Ben Clymer

And the answer is really fucking insulting to a lot of people.

And a lot of people say, you know what?

Fuck you.

I'm just going to go buy it for $500,000 on my own site or I'm just going to not buy it at all.

I'm going to take a nice vacation or buy a Ferrari instead.

And I think this industry has really struggled with that.

The market has been so buoyed by easy access to capital, I'll say.

And the prices have just continued to go up and go up in a way.

It's not normal.

And that's not just true for watches, true for cars, wine, art, et cetera.

And all of a sudden, when things tightened up a little bit this year, which they have, people said, oh, wait a minute, like Rolexes will not always go up in value, then I'm out.

I'm just going to sell it.

That's a shame.

And I think not just Rolex, but all luxury brands who have their chest puffed out really broadly now should just remember that everything is cyclical and that if you have somebody that wants to buy a product from you that nobody needs, you should give them as much respect as possible because it doesn't last forever.

The weakest link of any chain is always retail.

Finding people, good salespeople is remarkably hard because you're selling stuff.

And a lot of the folks that are able to afford this stuff, frankly, are incredibly intelligent, incredibly well-versed in the world, know everything, know everyone.

If they don't, they're going to go on Houdinki and read all about it.

So they do know everything.

And you get salespeople that don't,