The market for luxury watches is vibrant and well, despite what is happening in the wider world economy. This year sees the launch of a whole range of different designs from both the traditional watchmakers to some new entrants. Some are based on long standing associations, such as the new Tag Heuer SLR which with the brands strong inks with the motor racing world, is based on the Mercedes SLR. Others are more conservative additions to an existing range and styling such as the latest series of Mont Blanc watches.
Historical market downturns have little impact on the luxury end of the market, and this year seems no different. Prices at the top end such as the range of Urwerk watches are near the $200,000 mark, with more reasonable offerings from the mid range such as Seiko Watches. If you want to pick up an exclusive and luxury watch without paying a crazy price there is a healthy market online.
With any purchase online there is always a risk that the goods you pay for may not be up to specification or very different to those advertised. This risk can be reduced by doing some standard due diligence before making a purchase. One of the big risks you need to mitigate in this sector, is that of being sold poor quality replicas of the real thing. This risk can be avoided by remembering the old adage that ‘there’s no such thing as a free lunch’ if it looks too good to be true, walk away. Having said that, some of the best genuine deals on something like a Bvlgari watch is invariably found online, where you can pick up some genuine deals that offline merchants with their big overheads, simply can not match.
November 7th, 2008
You may already know something about safe investments if you have a 401k plan through your employer. Many offer you the option of choosing between what you would think of as safe investments, medium risk, and very risky. You should always start with the safer of all of your choices when you first join, and then you can take just some at a later date to put into ones that might be riskier, but that would also get you more gains. In times of trouble, however, that may not be a smart idea. Stay with the tried and true to better protect your money.
When you think of making safe investments in the stock market, think about companies that you have known for a long time and that have a good track record no matter what was happening with the economy at any given time. You may think of things like Coke, Pepsi, and other companies that consistently make money. These companies are usually known around the world and have things that people will buy no matter what happens. You may even consider companies that make things that are essentials like food, toilet paper, and clothing. Those tend to be safer investments.
You can also talk with someone at your bank about safe investments that they would recommend. You can get a money market account, which is essentially a savings account with a minimum balance requirement and a higher interest rate. You can make slow but steady money that way, as long as it is protected by the FDIC. You may think about IRAs, but remember that those are prone to failure in tough times, and may not be covered by the FDIC. That means that they would not be a safe investment if the bank were to fail, as you would lose all your uninsured money. Insurance is something that is essential if you can get it, and serves you well no matter what happens next.
November 7th, 2008