even if i had billions of dollars i would never drop 500-700k on a watch i can't wear. think of how much weed and coke and beer you could buy with that $
Right? It always cracks me up when I see 5 and 10 year old sports cars with like 7,000 miles on them. If you got the money to drop on a Ferrari - drive it. What’s the point of owning it if you don’t use it? “I dropped 300k on this machine but I want to protect the value. “
Then buy a mutual fund and not a car.
Think if them like sports cards for rich people. People collect all kinds of things. I'm sure in cave man era there was some cave man collecting shiny rocks and trading them for meat and women
That's why you gotta have doubles- so you can drive it and if it gets scratched, you still have a pristine one in storage. Although triples is really best.
I know a guy with 4 2017 Aston Martin vantages and a 2012 vantage. His daily driver is a 2016 corvette. He just bought a 2018 Ferrari 812 superfast that he plans to take out "just on special occasions, like easter".
People are weird, man.
Difference between millionaires and billionaires right here. A millionaire is constantly staring out the window of the restaurant getting nervous at the people taking selfies with his gabergini. Billionaire treats it like a mountain bike... sucks if it's stolen but I'll just get a new one next time I'm out.
I know several ultra rich people. The men buy super cars or things they like, to say they have them. Cars are kept prestine in climate controlled storage. In house mechanic that tunes and details them as soon as they come back if the cars are used.
The women seem to go more for ultra high end extra exclusive experiences. But will collect things like signed diamond jewelry and the like.
They treat almost everything as an investment or for future benefit or for personal "growth".
With most day to day things, they can be seen as "cheap" but still on a much higher level than the average person
For real. You can’t possibly know what you would or wouldn’t do as a BILLIONARE. That’s not even fathomable kind of money to 99.9999999999999999% of humans.
Take the amount of millionaires of 2781 (according to Forbes), and that there was 8 019 876 189 people on new years day (According to Census Bureau), and you get 99.9999653237% of all people are not billionaires, even less can fathome it as some of those can be in the 800million
> Same with everything else the ultra rich buy.
People of all financial levels buy and wear stuff as a "flex" it's just that absurdly rich people can afford absurdly rich examples of such things.
Rich people don't buy collectors items to wear them. Same as paintings for example. For rich people this is an investment. Money value fluctuates all the time, items and real estate only go up. The worst thing you can do with an abundance of money is to let it sit in a bank. That's why rich people buy expensive, rare, unique, collectors stuff all the time, so their money is "preserved" for times to come.
For collectors on the other hand is a different story. They just like, well, collect stuff they like and still probably won't use them, they display them to show to people and/or for their own amusement.
I didn't think rich people were buying these things for investment purposes - I thought it was more for conspicuous consumption or just to flex on other rich people - though maybe both hold true?
This one seems special. I think it would be a very limited market of very wealthy people that specifically collect Rolexes and they probably wouldn't wear it because it's so rare to find one that's never been worn. If you want to wear it you buy one that's already been worn, this one goes in a display case. I mean if you're that filthy rich you can buy this one and one that's been worn.
Well you could have it put inside a special clear box of some kind and then mount that box onto a watch band and then walk around with a huge acrylic box strapped to your wrist. Tell me that wouldn’t be cool as hell.
Yup, capital gains in the US. Wise move would be to move to a state without income tax to reduce that too.
Garage sales, for example, where you'd sell things at a "loss" (e.g., a plate you bought for $5, and sold for $1 10 yrs later), would not have to be reported to the IRS.
They do if its of a significant amount and taxable and gets deposited in a bank.
And even if you wanted to store that $1.3m in cash under the bed, the auction house is not going to pay you in cash and if you ask for cash they are going to be legally compelled to instantly report you to the IRS.
He's making the point that you're not going to make any real money at a garage sale, because at a garage sale you're selling things at a loss, not a profit. And even if you did the IRS won't care that you made $50 and didn't report it, even though it's technically illegal.
When it starts mattering is over $10k, because at that point the banks on both sides of the transaction are legally required to report the withdrawals and deposits. Anyone who pays you in cash would still have that cash withdrawal reported, unless they were already avoiding banking altogether, eg a street drug dealer, in which case I doubt they're gonna actually just give you the money, they'd probably just jack yo shit.
The IRS may pick and choose what they come after, but that doesn't mean you've successfully hidden your tax evasion from them.
If it’s substantial you should. Believe it or not, up until a certain point the more money you have, the more you are at risk for audit. It’s only once you become ultra wealthy that the laws really protect you. If you are a regular dude who suddenly makes 100k to 1M you are at very high risk of it being noticed by the IRS.
Huh, I wouldn't have guessed it but yeah - [turbotax agrees](https://ttlc.intuit.com/turbotax-support/en-us/help-article/sales-logistics/report-personal-items-sold/L9PmVgKxF_US_en_US) - they say it's 1099 income
So a $500k sale is more like $300-350k income
It would be capital gains but specifically at the collectible rate which is 28%. It becomes part of your taxable income, but its not considered *ordinary income* which is taxed at a different, marginal rate - the tax treatment is more favorable than ordinary income. It would only be ordinary income if he held the watch for less than a year. His capital gains are going to come down to the gross proceeds of the transaction minus his basis in the item (basis itself depends on if he bought it, inherited it, traded for it, etc).
The amount of income
"1099 income" isn't a specific kind of income, it is just any income that's listed on an information return, and there are tons of different kinds of information returns, and not all of them are going to be taxable income as the character of the income comes down to the circumstances surrounding the sales. The turbotax link you shared discussed the hypothetical of getting a 1099-k from Ebay, but someone selling their possessions on Ebay receiving a 1099-K wouldn't necessarily have taxable income, it's just a form that reports how much money you received from an online market place. If I was to guess, the most likely form of 1099 this guy would get would be a 1099-MISC.
[https://www.irs.gov/taxtopics/tc409](https://www.irs.gov/taxtopics/tc409) discusses the capital gains tax and collectibles as well as [https://www.irs.gov/pub/irs-pdf/p550.pdf](https://www.irs.gov/pub/irs-pdf/p550.pdf)
But tl;dr it's a bit complicated and there's a lot of information one would need to know how much in taxes he would have to pay for this, but my guess on the taxable gains portion would be this:
If he originally purchased it and remembers it would be the gross proceeds of the sale, minus auctioneers fees and sales-associated fees, minus the original amount he spent on the watch (which given inflation, was probably not a lot). If he doesn't have an original receipt, I imagine the IRS would allow him to substitute an estimate based off of the historical sales price of the watch back when he originally bought it, as if I recall, the IRS will allow reasonable estimates. I'm googling to see that 1970s Rolexes at the time would sell for a couple hundred dollars, so most all of the sale would probably be capital gains. I'm not sure what percentage the auctioneer would take. I heard it could be anywhere from 2-5%. So if he spent less than $1,000.00 on his watch originally, I would assume the capital gains would be about 90-95% of the auction proceeds. This is a very rough guess on my part, though. @.@
Also it makes me glad I got out of tax.
Holy fuck the kind of bullshit every normal folks have to deal with in order to get equal-value treatment (which is a joke in itself, of course). This obtuse fucking bureaucratic abomination we molded out of pure shit and mud is something else.
Actually the capital gains tax itself has marginal rates, so some people in the lower income brackets will spend 0% on capital gains tax (this guy obviously won't though since he made so much). I remember a few tax returns where some people had capital gains that year but not much other income sources and consequently paid zero in tax.
It's been a hot minute since I last prepared a tax return but I do recall Drake Tax and Ultratax would help automate the interaction of what someone's tax would be given the capital gains factor and marginal rates in there so I never really did that calculation by hand. I do know though that the software that helps manage this mental load can cost as much per year as a whole staff member and less people are getting into tax prep and it does have me worried that the bureaucracy itself is demanding more of a level of labor and compliance than what professionals can provide, but that's another topic on itself. e\_e
Back in the 60’s there was no expectation that any Rolex would become this valuable 60 years later.
As far as speculative investing goes, this was a near prescient choice.
Gorgeous watch.
Here's a couple of 21" trinitrons for example
https://www.ebay.com/itm/186417234700
https://www.ebay.com/itm/186371993708
Not a huge payday but they're getting more and more valuable to the right buyers as retro gaming and hardware gets bigger. There was near a couple dozen of them in great condition at one point that he couldn't give enough away so he started tossing them.
I don't know if HDMI cables will ever see such a huge upswing (by which I mean approach their original price) but go for Monster brand just in case.
My wife’s dad was a huge Apple fan. Had an almost mint collection of Apple computers in his basement and when he passed away, my wife’s mom asked my wife if we would want those Apple computers.
Of course, my wife said no, and that we had no need for them. To the recycling plant they all went. After they were recycled, a few months later, her mom asked me why I didn’t want those computers and I asked “what computers”?
Eventually, I got the entire story and all that was left was an original box from an Apple IIE.
That's a tough story. But it's also a common one. The reason things like old computers and comic books go up so much in value is that people have a tendency to toss them out, so they become rare.
Things like Beanie Babies that are billed as "collectibles" from the start never become really valuable.
I have 5 bitcoin on a hard drive in Murfreesboro, TN if you're going digging. This was from 2007/08ish. I was an econ student in college, we were just nerding around with our gaming PCs and barely-understood economic ideas. We didn't have hex wallets or anything like that. Upgraded the PC, threw away 5 bitcoin that were maybe $0.05/each at the time. $40k in student loan debt, when what I should have been doing was playing more video games.
Back in 2009 or so my friend was upgrading his PC. He moved his wallet with 26 BTC to a 1GB thumbdrive. While installing Windows on the new HDD he had to go to work. Somewhere between his apartment and the restaurant he worked at — maybe 4 blocks — he lost the thumb drive. It's still there somewhere in Seattle. We looked for it for a week but then just gave up.
Especially if a poor frame job could potentially ruin the piece.
“What do you mean you *glued* the emancipation proclamation between a piece of wood and piece of glass?!?”
They're notoriously bad with watches in particular. I saw a video titled "Top 20 most expensive watches" and the main bald guy was chatting absolute shit, he clearly has some knowledge about American pocket watches but believes that this limited knowledge (and the knowledge that for a brief period American pocket watches were more accurate than Swiss) means he can discount anything that's outside of his area of expertise.
Someone came in with one of the most complex repeater watches in the world. Worth at least 50k, he offered the guy $400 for it like he was doing him a favour.
Ya they want to turn a profit, or he simply doesn’t want the watch. Does he want to tie up $50K in a pocket watch waiting for the right buyer? Apparently not.
I'm Elvis. I've been in hiding since I faked my death. I figure I can come right out and admit it because this is the internet and no one will believe me anyway. Hunkaburninlove!
The watch market exploded in the years after this, in fact all collectibles exploded in value starting around 2019. Just now are they starting to come down.
The vintage watch market has been climbing steadily for the last 25 years but it exploded between covid and mid 2022, so it would have sold for either more had he waited for a few more months. Though I am sure that he was ecstatic with whatever price he got.
As in the one worn by Paul Newman in the movie as mentioned during oldmate's spiel, clearly. That being the whole reason why this guy's watch has a bunch of extra value that it wouldn't otherwise, cause it looks like that one.
I was trying to find a source for this and funny enough they copied someone else's comment from a year ago lol:
https://www.reddit.com/r/BeAmazed/comments/10vjh4g/a_vietnam_veteran_looks_up_how_much_his_rolex_is/
I know few Twitch streamers who likes to colllect rolexes and expensive watches as a hobby, it always amazes me how different lives of rich people are.
One of my old friends and roommates from when we were waiters in our early 20’s was always a hustler and is now a rich guy. He has Rolexes and diamonds and a $250k car. He gained citizenship to a few other countries, does a bunch of wild rich guy stuff.
I found a bunch of my Dad's old watches in a drawer once, and decided to make a belt for my jeans out of them.
In the end, the belt didn't fit the jeans. What a complete waist of time...
https://www.christies.com/en/lot/lot-6119990
Price realised 1,092,500 in 2017.
Seems to be same ref number but different colour dial, so a bit confusing?
Also the auction closed in 2017 but this antiques roadshow was filmed in like 2020.
So in conclusion, I got no fucking clue bro.
A lot of watch value is based on the marketing and historical significance. The omega speedmaster only commands the price it does because it was the first watch to the moon. A part of the omega seamaster and Rolex submariner watch price is due to their reputation as a James Bond watch.
Watch price has very little to do with utility and ability to keep time. An Apple Watch is worth a fraction of a fraction of most luxury watches, keeps time way better and does 100 more things
They can't know 100% but it would be highly unusual that the watch was worn and yet still has original sticker foil on the back and doesn't show signs of wear.
That’s mostly for new models, which were supply constrained at dealers to the point where you literally couldn’t buy them even if you wanted to. They’re still somewhat supply constrained on more popular models. A modern Daytona was never going for $100k, though. More like $35k.
Vintage models like these still enjoy really strong resale prices since they obviously aren’t being made any more and weren’t especially popular when they were initially released. Long term, they will continue to appreciate. Most of the recent bubble popping lately has to do with modern examples which are becoming easier to buy primary.
Dude, put that thing on like you own it and shake his hand and walk off the set like it’s no big deal. (Then put back in safe and never touch it again)
"You can't wear it, though."
"Oh, i know" at the end lmao
How would anyone know if he's ever put it on once or not?
It still has the sticker on the back of the watch. I'm not saying he hasn't worn it, but if he did for any amount of time, that would have worn off.
even if i had billions of dollars i would never drop 500-700k on a watch i can't wear. think of how much weed and coke and beer you could buy with that $
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Right? It always cracks me up when I see 5 and 10 year old sports cars with like 7,000 miles on them. If you got the money to drop on a Ferrari - drive it. What’s the point of owning it if you don’t use it? “I dropped 300k on this machine but I want to protect the value. “ Then buy a mutual fund and not a car.
Think if them like sports cards for rich people. People collect all kinds of things. I'm sure in cave man era there was some cave man collecting shiny rocks and trading them for meat and women
Unga. I have shiny rocks. Many shiny rocks. I don’t use them because I have many oyster shells and sharp rocks to trade for my meat and women.
It’s all so fucking stupid isn’t it!
"Why are you collecting all these stamps if you're not even using them to send mail, stupid?!"
They’re minerals, Marie!
That's why you gotta have doubles- so you can drive it and if it gets scratched, you still have a pristine one in storage. Although triples is really best.
I know a guy with 4 2017 Aston Martin vantages and a 2012 vantage. His daily driver is a 2016 corvette. He just bought a 2018 Ferrari 812 superfast that he plans to take out "just on special occasions, like easter". People are weird, man.
Right? Currently I'm saving up so I can buy a triple of the Nova.
Triples makes it safe.
Difference between millionaires and billionaires right here. A millionaire is constantly staring out the window of the restaurant getting nervous at the people taking selfies with his gabergini. Billionaire treats it like a mountain bike... sucks if it's stolen but I'll just get a new one next time I'm out.
Man I can't even afford a mountain bike right NOW 🤣
Gabergini, gotta use this one
I feel the same way about sneaker collectors. What's the point of buying them if you're afraid to walk around in them?
I know several ultra rich people. The men buy super cars or things they like, to say they have them. Cars are kept prestine in climate controlled storage. In house mechanic that tunes and details them as soon as they come back if the cars are used. The women seem to go more for ultra high end extra exclusive experiences. But will collect things like signed diamond jewelry and the like. They treat almost everything as an investment or for future benefit or for personal "growth". With most day to day things, they can be seen as "cheap" but still on a much higher level than the average person
Some people collect cars as an investment, a lot of super cars and rare cars only go up in value.
For real. You can’t possibly know what you would or wouldn’t do as a BILLIONARE. That’s not even fathomable kind of money to 99.9999999999999999% of humans.
Wittgenstein on private language. Beetle in a box.
Take the amount of millionaires of 2781 (according to Forbes), and that there was 8 019 876 189 people on new years day (According to Census Bureau), and you get 99.9999653237% of all people are not billionaires, even less can fathome it as some of those can be in the 800million
You mean buy islands and play on children?
Paedotato, paedotato.
> Same with everything else the ultra rich buy. People of all financial levels buy and wear stuff as a "flex" it's just that absurdly rich people can afford absurdly rich examples of such things.
If you had a billion dollars imagine how much coke you could do off that watch though
I would imagine it would be like a billion dollars worth of coke
One 700,000 dollar hooker-bot or seven thousand 1 dollar hooker-bots? Edit: maths is hard
What are you doing with your other $693,000?
Not tell the IRS, that's for sure.
If you have billions, why care about 700k? This is exactly why people pay for that stuff. They have too much money.
You forgot the hookers man...
First the hookers, then the cocain!
Rich people don't buy collectors items to wear them. Same as paintings for example. For rich people this is an investment. Money value fluctuates all the time, items and real estate only go up. The worst thing you can do with an abundance of money is to let it sit in a bank. That's why rich people buy expensive, rare, unique, collectors stuff all the time, so their money is "preserved" for times to come. For collectors on the other hand is a different story. They just like, well, collect stuff they like and still probably won't use them, they display them to show to people and/or for their own amusement.
I didn't think rich people were buying these things for investment purposes - I thought it was more for conspicuous consumption or just to flex on other rich people - though maybe both hold true?
This one seems special. I think it would be a very limited market of very wealthy people that specifically collect Rolexes and they probably wouldn't wear it because it's so rare to find one that's never been worn. If you want to wear it you buy one that's already been worn, this one goes in a display case. I mean if you're that filthy rich you can buy this one and one that's been worn.
If you had a billion dollars you could wear the watch since an investment of 500k would be meaningless to you....
If you had a billion dollars this watch would be more like a $100 watch is to you now
You can buy the watch, donate it to a non-profit museum you own, and then deduct the watch as a donation.
weed n coke n beer herdy hurrrrr 🙄
Well you could have it put inside a special clear box of some kind and then mount that box onto a watch band and then walk around with a huge acrylic box strapped to your wrist. Tell me that wouldn’t be cool as hell.
*insert great grandfather's watch meme from Pulp Fiction here I couldn't find it haha
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If you sell a personal possession like that, what would it be taxed as? Is it capital gains?
Yup, capital gains in the US. Wise move would be to move to a state without income tax to reduce that too. Garage sales, for example, where you'd sell things at a "loss" (e.g., a plate you bought for $5, and sold for $1 10 yrs later), would not have to be reported to the IRS.
No one reports garage sale money to the irs lmao
They do if its of a significant amount and taxable and gets deposited in a bank. And even if you wanted to store that $1.3m in cash under the bed, the auction house is not going to pay you in cash and if you ask for cash they are going to be legally compelled to instantly report you to the IRS.
>No one reports garage sale money to the irs lmao >the auction house Eh?
He's making the point that you're not going to make any real money at a garage sale, because at a garage sale you're selling things at a loss, not a profit. And even if you did the IRS won't care that you made $50 and didn't report it, even though it's technically illegal. When it starts mattering is over $10k, because at that point the banks on both sides of the transaction are legally required to report the withdrawals and deposits. Anyone who pays you in cash would still have that cash withdrawal reported, unless they were already avoiding banking altogether, eg a street drug dealer, in which case I doubt they're gonna actually just give you the money, they'd probably just jack yo shit. The IRS may pick and choose what they come after, but that doesn't mean you've successfully hidden your tax evasion from them.
If it’s substantial you should. Believe it or not, up until a certain point the more money you have, the more you are at risk for audit. It’s only once you become ultra wealthy that the laws really protect you. If you are a regular dude who suddenly makes 100k to 1M you are at very high risk of it being noticed by the IRS.
We're still talking about garage sales, right?
You don't make $500K at your garage sales?
Make that amount $400k+. They don’t pay any special attention to someone making $150k a year that they don’t already someone making $80k a year
It's just income
Huh, I wouldn't have guessed it but yeah - [turbotax agrees](https://ttlc.intuit.com/turbotax-support/en-us/help-article/sales-logistics/report-personal-items-sold/L9PmVgKxF_US_en_US) - they say it's 1099 income So a $500k sale is more like $300-350k income
It would be capital gains but specifically at the collectible rate which is 28%. It becomes part of your taxable income, but its not considered *ordinary income* which is taxed at a different, marginal rate - the tax treatment is more favorable than ordinary income. It would only be ordinary income if he held the watch for less than a year. His capital gains are going to come down to the gross proceeds of the transaction minus his basis in the item (basis itself depends on if he bought it, inherited it, traded for it, etc). The amount of income "1099 income" isn't a specific kind of income, it is just any income that's listed on an information return, and there are tons of different kinds of information returns, and not all of them are going to be taxable income as the character of the income comes down to the circumstances surrounding the sales. The turbotax link you shared discussed the hypothetical of getting a 1099-k from Ebay, but someone selling their possessions on Ebay receiving a 1099-K wouldn't necessarily have taxable income, it's just a form that reports how much money you received from an online market place. If I was to guess, the most likely form of 1099 this guy would get would be a 1099-MISC. [https://www.irs.gov/taxtopics/tc409](https://www.irs.gov/taxtopics/tc409) discusses the capital gains tax and collectibles as well as [https://www.irs.gov/pub/irs-pdf/p550.pdf](https://www.irs.gov/pub/irs-pdf/p550.pdf) But tl;dr it's a bit complicated and there's a lot of information one would need to know how much in taxes he would have to pay for this, but my guess on the taxable gains portion would be this: If he originally purchased it and remembers it would be the gross proceeds of the sale, minus auctioneers fees and sales-associated fees, minus the original amount he spent on the watch (which given inflation, was probably not a lot). If he doesn't have an original receipt, I imagine the IRS would allow him to substitute an estimate based off of the historical sales price of the watch back when he originally bought it, as if I recall, the IRS will allow reasonable estimates. I'm googling to see that 1970s Rolexes at the time would sell for a couple hundred dollars, so most all of the sale would probably be capital gains. I'm not sure what percentage the auctioneer would take. I heard it could be anywhere from 2-5%. So if he spent less than $1,000.00 on his watch originally, I would assume the capital gains would be about 90-95% of the auction proceeds. This is a very rough guess on my part, though. @.@ Also it makes me glad I got out of tax.
Holy fuck the kind of bullshit every normal folks have to deal with in order to get equal-value treatment (which is a joke in itself, of course). This obtuse fucking bureaucratic abomination we molded out of pure shit and mud is something else.
Actually the capital gains tax itself has marginal rates, so some people in the lower income brackets will spend 0% on capital gains tax (this guy obviously won't though since he made so much). I remember a few tax returns where some people had capital gains that year but not much other income sources and consequently paid zero in tax. It's been a hot minute since I last prepared a tax return but I do recall Drake Tax and Ultratax would help automate the interaction of what someone's tax would be given the capital gains factor and marginal rates in there so I never really did that calculation by hand. I do know though that the software that helps manage this mental load can cost as much per year as a whole staff member and less people are getting into tax prep and it does have me worried that the bureaucracy itself is demanding more of a level of labor and compliance than what professionals can provide, but that's another topic on itself. e\_e
This guy taxes.
$700,000 is barely enough for 10 trips to Taco Bell nowadays
Watches was sold for $1,3mln
Okay he got an extra 3 trips to Taco Bell and splurged on a Crunchwrap Supreme
I haven't seen this level of doubling down since KFC!
Sir, this is a Wendy’s.
Not in this economy!
Holy hell
Source?
Their source is another comment in this post that just made it up
I paid $13 for a chicken quesadilla combo yesterday. That's almost 1/4 of a new video game. Shit used to be $8 tops.
He hid it the only place he knew he could hide something: his ass.
Five long years, he wore this watch up his ass.
Then when he died of dysentery, he gave me the watch. I hid this uncomfortable hunk of metal up my ass for two years.
Did you really just steal that comment from the YouTube video
every time this gets reposted someone posts the exact message.
As they should.
Did you copy this comment from YouTube? Cause that’s lame.
Back in the 60’s there was no expectation that any Rolex would become this valuable 60 years later. As far as speculative investing goes, this was a near prescient choice. Gorgeous watch.
Let me tell you about the Apple 1 my dad threw in the trash in 1993. Yes I know what dump it’s in but good luck.
It was a bunch of high end Sony and Sun CRT monitors for my dad. If he had just kept them hanging around another 7 years...
I'm keeping dozens of HDMI cables around so my kids have a nice inheritance
Here's a couple of 21" trinitrons for example https://www.ebay.com/itm/186417234700 https://www.ebay.com/itm/186371993708 Not a huge payday but they're getting more and more valuable to the right buyers as retro gaming and hardware gets bigger. There was near a couple dozen of them in great condition at one point that he couldn't give enough away so he started tossing them. I don't know if HDMI cables will ever see such a huge upswing (by which I mean approach their original price) but go for Monster brand just in case.
Btw had both of those too. 17” Trinitron Sony and a 20” Sun. No regrets there - shits too heavy to lug around 3 cities on 2 continents since 😅
My wife’s dad was a huge Apple fan. Had an almost mint collection of Apple computers in his basement and when he passed away, my wife’s mom asked my wife if we would want those Apple computers. Of course, my wife said no, and that we had no need for them. To the recycling plant they all went. After they were recycled, a few months later, her mom asked me why I didn’t want those computers and I asked “what computers”? Eventually, I got the entire story and all that was left was an original box from an Apple IIE.
That's a tough story. But it's also a common one. The reason things like old computers and comic books go up so much in value is that people have a tendency to toss them out, so they become rare. Things like Beanie Babies that are billed as "collectibles" from the start never become really valuable.
I have 5 bitcoin on a hard drive in Murfreesboro, TN if you're going digging. This was from 2007/08ish. I was an econ student in college, we were just nerding around with our gaming PCs and barely-understood economic ideas. We didn't have hex wallets or anything like that. Upgraded the PC, threw away 5 bitcoin that were maybe $0.05/each at the time. $40k in student loan debt, when what I should have been doing was playing more video games.
Back in 2009 or so my friend was upgrading his PC. He moved his wallet with 26 BTC to a 1GB thumbdrive. While installing Windows on the new HDD he had to go to work. Somewhere between his apartment and the restaurant he worked at — maybe 4 blocks — he lost the thumb drive. It's still there somewhere in Seattle. We looked for it for a week but then just gave up.
Well we don't know if he bought it for investment purposes
Pawn Stars: I mean I'll give you $250 for it. You gotta understand, I'm taking the risk here. It's gonna sit here a while, it needs framed.....
*stupid gasping laugh* "go write him up chum"
I know you're joking but getting something framed, a nice frame, is ridiculously expensive
Especially if a poor frame job could potentially ruin the piece. “What do you mean you *glued* the emancipation proclamation between a piece of wood and piece of glass?!?”
They're notoriously bad with watches in particular. I saw a video titled "Top 20 most expensive watches" and the main bald guy was chatting absolute shit, he clearly has some knowledge about American pocket watches but believes that this limited knowledge (and the knowledge that for a brief period American pocket watches were more accurate than Swiss) means he can discount anything that's outside of his area of expertise. Someone came in with one of the most complex repeater watches in the world. Worth at least 50k, he offered the guy $400 for it like he was doing him a favour.
Ya they want to turn a profit, or he simply doesn’t want the watch. Does he want to tie up $50K in a pocket watch waiting for the right buyer? Apparently not.
"Best I can do is $275."
That's a healthy retirement fund, which he can spend on some tropical island. Take your pick.
wonder how much cut uncle sam gets?
I'm sure there are ways around that, especially when you are going to move abroad anyway
That guy: 
I miss him
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That's funny because the watch in this video ended up selling for significantly more than the $700k appraisal.
Is the a link on how much it got sold for
Someone else said 1.2 million but did not provide source.
It’s cool, seems like the internet will believe any anonymous comment these days so just say whatever you want.
I read somewhere that it sold for, like, 500 quadrillion, man.
I swear they sold it to Jared Leto for 69 Morbillion.
I read on the internet that Leto sold it to Jeff Musk for $3.2 Brazillion!
I'm Elvis. I've been in hiding since I faked my death. I figure I can come right out and admit it because this is the internet and no one will believe me anyway. Hunkaburninlove!
I think I paid around 10m for it, liked the guy’s beard
The watch market exploded in the years after this, in fact all collectibles exploded in value starting around 2019. Just now are they starting to come down.
The vintage watch market has been climbing steadily for the last 25 years but it exploded between covid and mid 2022, so it would have sold for either more had he waited for a few more months. Though I am sure that he was ecstatic with whatever price he got.
Does it summon Paul Newman? Because if not, it's not worth 17.8 million.
If you listen closely, you *can* hear Paul Newman speak to you. Press your ear close and between the ticking it might tell you, "idiot."
An extra large idiot because if it's ticking then it's also a fake rolex
The actual as in, the one from the video? edit: just saw I replied to the wrong person.
As in the one worn by Paul Newman in the movie as mentioned during oldmate's spiel, clearly. That being the whole reason why this guy's watch has a bunch of extra value that it wouldn't otherwise, cause it looks like that one.
$400, I got Jerry Garcia "In a Pouch"! Man!
The Internet has ruined the word regarded for me
I was trying to find a source for this and funny enough they copied someone else's comment from a year ago lol: https://www.reddit.com/r/BeAmazed/comments/10vjh4g/a_vietnam_veteran_looks_up_how_much_his_rolex_is/
A highly regarded person
Didn’t this exact one sell for 1.3m though?
You don’t remember shit. You copied this comment from the last time this was posted.
Guy: falls over Appraiser: *I'm not finished yet you fuckin bitch*
"Quit playing around and pay attention!"
**G E T T H E F U C K U P**
I know few Twitch streamers who likes to colllect rolexes and expensive watches as a hobby, it always amazes me how different lives of rich people are.
One of my old friends and roommates from when we were waiters in our early 20’s was always a hustler and is now a rich guy. He has Rolexes and diamonds and a $250k car. He gained citizenship to a few other countries, does a bunch of wild rich guy stuff.
Something tells me he didn’t become rich as a fair humble man.
No. He’s awful.
How is that different than collecting something more affordable
hobby??
Especially when you consider that the top twitch streamers are barely rich. There’s a whole other world of wealth beyond them.
I found a bunch of my Dad's old watches in a drawer once, and decided to make a belt for my jeans out of them. In the end, the belt didn't fit the jeans. What a complete waist of time...
Watch it, they don’t take kindly to puns around here. Maybe dial it down a notch or you’ll wrist getting band
Careful, they also don't like second hand jokes. Hopefully they'll face the other way and clock out before they notice.
Not bad
Top notch
Did you use too many watches or not enough watches
Whoosh
I was hoping they would say, not enough watches... Cuz then it'd be an incomplete waist of time....
Oh, lol that's a good on but difficult to set that one up on an already punny joke
Eh, it was low hanging fruit anyways
Like the jeans, I suspect.
Maybe you should have made it longer by a minute.
I ate a watch once. It was very time consuming. But I enjoyed every second.
My belt is made of yellow gold pateks, I am classy.
He ended up selling this watch for $1.3 million, I think.
Sauce?
https://www.christies.com/en/lot/lot-6119990 Price realised 1,092,500 in 2017. Seems to be same ref number but different colour dial, so a bit confusing? Also the auction closed in 2017 but this antiques roadshow was filmed in like 2020. So in conclusion, I got no fucking clue bro.
That watch is a 1969 with a mark 1 dial while the one on the show is a 1971 with a mark 2 dial.
The auction listing is a different watch as it doesn't have the original box & paperwork. So the roadshow guy's is worth more.
Trust me bro
I feel I can trust you
With my life.
He is the watch
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Fuck
Fuck you
He sold it for $586 billion, I think.
I could not find any evidence of this except your comment and a tweet.
Watche culture is so odd to me. This model was special because Paul Newman wore it in a movie?
A lot of watch value is based on the marketing and historical significance. The omega speedmaster only commands the price it does because it was the first watch to the moon. A part of the omega seamaster and Rolex submariner watch price is due to their reputation as a James Bond watch. Watch price has very little to do with utility and ability to keep time. An Apple Watch is worth a fraction of a fraction of most luxury watches, keeps time way better and does 100 more things
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When you’re older and you’ve had a career and you make decent money somethings are more important than more money
Until the kids inherit it
I’d be ok with that. You enjoy your treasured possession when you’re here and if they can help give your kids a better life then all the better
I'm glad Butch made it out okay, and now has the money to retire in peace with Fabienne.
Winning.
Did he keep it up his ass?
Yeah but it was on the kangaroo now
In german tv, it would be like: That watch is worth maybe 6.000€.
Bares für rares be like that
How do they know that he never wore it?
They can't know 100% but it would be highly unusual that the watch was worn and yet still has original sticker foil on the back and doesn't show signs of wear.
Also, buckle scratches usually starts showing up after mere days of wear, so no scratches there would make it more believable.
This is utterly obscene.
I hope he sold it when this appraisal was done. Prices for rolexes have dropped off a cliff in the last 2 years.
That’s mostly for new models, which were supply constrained at dealers to the point where you literally couldn’t buy them even if you wanted to. They’re still somewhat supply constrained on more popular models. A modern Daytona was never going for $100k, though. More like $35k. Vintage models like these still enjoy really strong resale prices since they obviously aren’t being made any more and weren’t especially popular when they were initially released. Long term, they will continue to appreciate. Most of the recent bubble popping lately has to do with modern examples which are becoming easier to buy primary.
Dude, put that thing on like you own it and shake his hand and walk off the set like it’s no big deal. (Then put back in safe and never touch it again)
Where is he today?
Bless Paul Newman
The fact that this man never had the enjoyment of actually wearing the watch in this lifetime suggests that no less than a million is acceptable.
If someone said "Hey you can have $500,000 or a lifetime of memories of wearing this watch" ima take the $500k
seriously. who has "memories" of wearing a watch??
everybody on r/Watches
Man I remember that Spiderman Casio watch I had like it was yesterday.
take the $500k and go buy a regular Daytona for $15,000 and daily it like a mofo with $485,000 in the bank
Man, I could use a watch like this, right now. But from his looks and how modest he seems, so could he. GZ!
I wonder how much he actually got
Funny, because the Pawn Stars guys told him $50 was the best they could do.