r/sportsgossips • u/NSFWdontview • 2h ago
Rumors Floyd’s 18 million dollar watch only has resale value of $3 million
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u/Zigglyjiggly 2h ago
If he could read, this fact would really upset him.
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u/WonkyWalkingWizard 2h ago
Maybe 50 will buy it if he reads a page from a harry potter book
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u/stakopancakes 1h ago
So he’s financially illiterate too.
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u/eddyb66 1h ago
It's not a small club, most Americans are financially illiterate. Finance is not a requirement for education because they need financially ignorant consumers. I mean there are $120k pickup trucks that quite a few people have bought. It's financial suicide, a 7 year car loan that is as much as a mortgage, for a work truck that will never see any work.
The smaet people with money get a financial advisor that guides them on not wasting their money.
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u/stakopancakes 1h ago
As someone who has been in banking and finance for 20+ years. Yes, I agree. This was more so a joke saying that the rumors of his illiteracy also expands to his financials.
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u/Trollking0015 1h ago
My wifes ex husband owns three cars (two are financed), in 60K credit card debt, rents but wants to blame others for his situation.
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u/traditionalshallot 28m ago
You don't need a financial advisor to guide you, just some basic common sense goes a long way.
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u/Megaloman-_- 2h ago
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u/SocomPS2 2h ago
Is this gif losing a pixel every time it’s used.
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u/Clear-Pomegranate463 2h ago
hahah yeah because people just take screencaps of the gif and reupload all the time
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u/Nikyu1 2h ago
Because it's a hideous piece.
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u/NSFWdontview 2h ago
Right you can’t even tell the time and if you haven’t noticed no one actually wealthy wears shit like this. These jewelers know they can rob rappers and uneducated
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u/Banned3rdTimesaCharm 2h ago
Yea the bling mark up is insane. The will mark something up 200% because they set some diamonds in the shape of a cereal box or something. If you ever resold the piece any self respecting jeweler would just scrap it for parts.
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u/SeahorseCollector 1h ago
This is the case with most custom made items. Same with remodeling a house. Nobody had the same taste as you, so if they don't like it, it doesn't matter what you paid for it.
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u/Hulahulaman 1h ago
There might also be a difference in the publicly announced price and what he paid for it. Jewelers like to pump up the prices just so they can privately give discounts for customers. "Just for you, 83% off".
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u/BrotherMcPoyle 1h ago
That’s an unfair statement. Regardless of the watch it’s likely Floyd just cant read analog time.
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u/ADIDAS247 56m ago
I think you meant to say “he” can’t tell the time. The average person could make it out but Floyd stands zero chance.
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u/dappershwarz 15m ago
Sorry some folks wear flashy stuff because otherwise you’re not given the time of day. If he weren’t famous he wouldn’t be taken seriously at first glance without something expensive looking.
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u/sevseg_decoder 2h ago
Seriously. This looks like the kind of piece you pick up at like a Rolex store for $30-50k and regret massively the first time you’re in a room with a real luxury watch. It’s really sad how much these guys who clearly came from actual poverty think luxury is something that stands out to average people and they just blow fortunes on the most ugly, classless shit.
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u/Suitable_Program_548 1h ago
Agree. Often they get influenced and used by others just looking to take advantage of them.
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u/sevseg_decoder 1h ago
100%. The jewelers, car salesmen, real estate agents, and everyone else in their lives sees what we all see, what anyone with even close to an average IQ can see I’m sure, that they’re not smart and don’t have the processes for protecting themselves worked out at a level close to commensurate with managing the money they have.
IOW: money burning a hole in their pocket.
So they take one of a handful of models their manufacturers make for people exactly like this, propose a custom design just blinged out like CRAZY, flash a smile with their diamond encrusted teeth or whatever and then laugh straight to the bank with 80%+ left over (and every other step in the chain down to them also is laughing with 80% margins on that sale).
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u/pew__pew__pew_ 1h ago
I met one of the guys who started Office Depot in Vegas; he was personally worth over $100mm at the time. The whole time we hung, he was in the same outfit; black button up, slacks, nondescript black loafers, and a Rolex that looked like an analog Casio.
There were so many empty, extravagant displays of “wealth” everywhere, the contrast was extreme, and my respect for his austerity is still seared into my brain.
And yeah he had like, a place in LA, Montana, NYC, etc (they got a Wynn high roller suite for free bc his wife was addicted to the $5k slots), not saying he was some monk, but it was clear that money let him exit the rat race entirely more than try to win it. Floyd could’ve left the rat race, but he wanted to win it.
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u/Top-Oil9556 2h ago
Fools and money are soon parted
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u/ignatious__reilly 1h ago
Most of these “watches” are overpriced trash.
Some of the dealers just throw numbers out there, praying some moron like Mayweather buys it.
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u/TheRealK95 2h ago
I mean this is the case with most luxury goods and jewelry. A brand like Jacob & Co makes cool watches but doesn’t have the rich history and prestige that companies whose pieces grow in value over time do.
Patek for example, a watch will cost way more second hand then MSRP.
Jacob & Co, opposite. Especially for diamond, gold, etc..
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u/Jazzlike_Finish123 1h ago
Exactly. You can purchase really high end watches where the value will increase. Custom anything will always lose value.
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u/simple_champ 45m ago
I was watching some of the YouTube videos about this the other night. Guys coming in with a $30k watch they had blinged out with $20k of diamonds. They think they're gonna get $50k+ for it and the jeweler is like I can give you $18k, $15k for the diamonds and $3k for the gold in the watch (that is now ruined by the diamond mountings). And if they just would have left it alone it probably would be a $40-50k watch today.
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u/Octavian_202 1h ago
Nobody outside of the “entertainment and sports” arena thinks Jacob & co as a watch maker, but strictly a jeweler. Patek and the others may have a couple of pieces with set diamonds, but the vast majority are just finely tuned Swiss time pieces.
I’m not disagreeing with you but just adding to the point.
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u/GoMoriartyOnPlanets 1h ago
I knew I was missing something here. I thought these luxury purchases are supposed to appreciate. He just bought the wrong branch, didn't do his research I guess.
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u/ronshasta 2h ago
Jewelers must’ve been so happy that rap culture came about so they could start scamming these idiots that think you have to spend millions on chains and watches to fit in
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u/hauttdawg13 1h ago
Actually have a buddy in the custom jewelry game. NIL has been one of the biggest game changers. The college kids absolutely love buying like 20-50k custom pieces, and some look like complete shit so would have almost no value on the resale market.
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u/KarmaticEvolution 1h ago
I saw a clip of Lil Baby purchasing something and the dude said he put the wrong number on the machine when running his card and LB was just like, “np, we’ll just keep it as store credit” 😂
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u/CJKayak 2h ago
Diamonds are nearly worthless on the resale market. The metal is where the value comes from on resale jewelry.
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u/IamHydrogenMike 48m ago
People act like diamonds are worth a ton of money when you resale something, and they don't really appreciate like gold does. We tried to sell my wife's old wedding ring when we got her a new one, and we barely got half of what we paid for because it was too custom.
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u/tittysprinkles112 2h ago
You hate to see it. Athletes with no financial education blow all of their money on things that depreciate with value. If he put that 18 million in some funds on the stock market he would be sitting pretty today.
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u/Healthy_Turnip7352 1h ago
that's actually most people.
worse, my frappuccino is worthless after i consume it.
The real worst: i actually have some financial background and understand that i'm wasting my money, too much debt, too much new cars that i regret and have to sell, etc.
most people live paycheck to paycheck. It's most people commenting here.
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u/TheDixonCider420420 2h ago
No worries. One fixed fight with one of the Paul brothers will get Floyd's finances back in line and then he can waste more money on a second watch for his other hand.
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u/Bondserelly 2h ago
When he bought it that 18 mil looked like 3. Now that 3 mil is looking alot more like 18 mil for him in is current situation.
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u/Melodic-Comb9076 2h ago
he missed all the econ classes that taught depreciation.
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u/Alarming_Eagle_8832 2h ago
Well in accounting we like depreciation.
Providing you got taxes to pay that is.
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u/Scott801258 2h ago
Who ever sold him most of the gaudy overpriced stuff saw him coming a mile away. Good ! A Fool and his money SHOULD BE soon parted....
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u/BitTasty3729 2h ago
I knew 10yrs ago he’d lose everything. Anyone who carries around a million dollars in a briefcase to a casino is bound to end up broke. Even after he sells what assets he has left the lesson will not be learned.
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u/DDanny808 2h ago
I’m sure he’s asking himself who stole his money not why did I buy shitty investments!
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u/Mizzmo612 2h ago
No matter how rich you are, why would you ever want to spend 18 million dollars on a watch? You could give me a billion and I still wouldn’t purchase this. Dumb as hell
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u/garlic_cashews 2h ago
I remember watching a video from Johnny dang (the jeweler a lot of rappers use) and he was saying that what he does immediately depreciates the item. The jewelry is generally worth much more without being bedazzled but the flex people are looking for is for fully bedazzled pieces.
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u/Milestailsprowe 1h ago
Yeah the moment you turn a high end watch into a bust down it's less than half the regular cost of the watches price. Very few people can afford such a watch but now it's a question of how many rich guys wanna have this loud as can be thing on their wirst.
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u/seazonedsaltdog 1h ago
Then its a 3m dollar watch
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u/GoMoriartyOnPlanets 44m ago
Great, now that we have the value, lets negotiate. Would you sell it for $450k?
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u/No-Calligrapher-4449 1h ago
Almost all custom jewelry, is insanely low for resale. Most jewelers don't care about the custom peice and will simply melt it down and pull the jewels. Not uncommon at all
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u/The_Kaizz 1h ago
As kids we're taught no matter how much money we get, spend it wisely, because it can all disappear. He did NOT get this message. He's selling off assets but is still losing money. Literally was just buying whatever he saw for outrageous prices that had horrible worth. So stupid.
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u/BubbleThinker 1h ago
Diamonds, maybe a girl‘s best friend, but the guy that pays for him doesn’t love them
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u/Crackadon 1h ago
For sure overpaid for a custom piece, but theres no way there wasn't 12-15m in gem/gold alone when he bought it in 2018.
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u/Dontneedflashbro 1h ago
If you're buying an expensive watch, resale value shouldn't be a topic on your mind.
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u/WWWTENTACION 1h ago
I thought this looked way better than RM, but yeah, there’s no interesting complication…
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u/Great-Gas-6631 1h ago
Yet another reason why i laugh at the idiots who waste money on jewelry like that.
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u/Faiz-ClippedIn 1h ago
Lab diamonds have really destroyed the diamond market. Lab diamonds are not able to be caught through the naked eye and passes most diamond testers. But tbh who would want to pay 100x the price for diamonds when you can get the same exact look for way cheaper. Also watches like this won't retain value just because it is iced out and not factory. A rolex or another jacob and co watch could hold its value but honestly buying diamonds right now isnt the best idea
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u/derek_32999 46m ago
Maybe he should see if Deutsche Bank can give him a bail out like they did Floyd Money Trump
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u/ike_tyson 45m ago
He could've had a collection of replicas and because of who he was people would've assumed they were real.
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u/Front-Cabinet5521 2h ago
It's practically worthless now. I'll gladly help him keep it if he wants to give it away.
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u/Most_Reach6070 1h ago
He didn't pay 18m for it.... That's what it's "worth" when he got it. All ultra rich people own shit that does not cost equal to what it's "Worth"
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u/IZZY_PLUM 1h ago
Literally through away millions on something he can’t live in or drive? I feel like I bought the watch now….
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u/i_Cant_get_right 1h ago
Jacob Arabo stays ripping these dummy’s off. Laughing all the way to the bank.
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u/Adopteddaughtermargo 1h ago
Looking at that abomination tells me he’s not a “watch guy”, he’s a “look at me guy”
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u/Unopuro2conSal 1h ago
I’m sure he thought it was a deal when he was 500 million at fight. Just the sales tax in CA is about 1,800,000 million
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u/West-Confidence1495 1h ago
It’s a watch, not a car. How does it lose that much value?..seems impossible
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u/Dangerous_Smoke1375 1h ago
Stupid question but is that part of the goal? Is “losing” money in value helpful for taxes?
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u/juanuha 1h ago
He certainly belongs to r/WallStreetBets he's part of the "Regard" brigade. Buying high and selling low since ancient times. This watch would put him in the hall of fame for sure!
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u/orangutangang0 1h ago
Imagine being stupid rich and buying a shiny watch instead of investing or helping people.
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u/Dragnet714 36m ago
Would he be in this situation if he didn't blow so much of his money on worldly possessions? I understand having nice things but his habits seem unsustainable.
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u/girthbrooks1 29m ago
On a serious note, I wonder if he can actually read that watch or tell time at all?
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u/jry666811 11m ago
I love everything thats happening to this piece o shit, hope he pisses away every last cent
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u/NicCage2028 7m ago
$10 says he couldn’t read it anyway. Bro needs a god tier Casio F91W. He just doesn’t know it yet.
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u/atlhawks1 6m ago
People in this thread talking about he’s broke, when I’m sure he is still worth more than everyone who commented negatively in this thread. Perspective.
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u/Archimedes31415926 3m ago
Seeing this after seeing a video about athletes bitching about their pay.
No wonder y'all go broke, these the type of decisions you making.
Its one thing if you making floyd type money and this the the one or two times you did this you'll be fine but often it's dudes notaking it like that trying to act like they making it like that.
Bunch of gay boys trying to impress other dudes with jewelry, cars, bottles, making it rain. It's all for other dudes to see. And none of 'em are smart enough to know if it's fake or not, so if you really insecure just get the fake shit that looks real and costs 10 cents in the dolla anput the rest into your portfolio and live off half or less of the interest and earnings.
The smart ones do: Ocho and Gronk come to mind, and you know there's a problem when Gronk is the smartest in the room (no hate to Gronk I think it's and act and persona that he is putting on for the brand, but I say that with all peace and love, no hate).
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