logo
#

Latest news with #RolexDay-Date

Rush to trade gold for dollars sparks cash shortages in NYC's Diamond District
Rush to trade gold for dollars sparks cash shortages in NYC's Diamond District

New York Post

time02-07-2025

  • Business
  • New York Post

Rush to trade gold for dollars sparks cash shortages in NYC's Diamond District

As gold prices hit all-time highs, owners of vintage baubles and family heirlooms are scrambling to trade them for dollars — and the frenzy has sparked a cash shortage across New York City's Diamond District, The Post has learned. Last week at Bullion Exchanges — a storefront at 30 W. 47th St. in Midtown Manhattan that displays assorted gold coins and jewelry behind thick plexiglass — a handful of customers had been buzzed inside while others waited on the busy sidewalk. At the counter, a young woman shoved a fistful of gold trinkets under the bank-teller style window. Ten minutes later, she left with a check for $3,330. Advertisement 'This is a new experience for me,' the woman told The Post, declining to give her name as she edged out the door. 5 Alon Mirzaev of US Gold Refinery holds a container full of gold jewelry he bought in one day. Stefano Giovannini Business is 'going gangbusters' since gold surpassed $3,000 per ounce in March, according Bullion Exchanges CEO Ben Tseytlin. By April, it climbed to $3,500 over President Trump's tariffs and his pressure campaign on Federal Reserve Chairman Jerome Powell to slash interest rates. Advertisement Gold was recently trading at $3,334 an ounce. Silver has surged to a 13-year high of $35 per ounce. Accordingly, many customers on West 47th Street are looking to sell stuff that's made of gold instead of buy it. As a result, retailers claim cash is in short supply because of bank credit limits. Most customers are paid with checks and wire transfers. 'This is a seller-heavy market,' Tseytlin told The Post. 'We don't give cash for anything over $2,500.' Even used Rolex watches are trading at a premium when they're made of gold — even though nobody would ever buy a Rolex to melt it down, said Paul Altieri, chief executive of Bob's Watches, one of the US's largest purveyors of pre-owned timepieces. Advertisement 5 The Diamond District on W. 47th St. is buzzing with customers eager to cash in on the high price of gold and silver. Stefano Giovannini 'Lately we've seen more people bringing in solid-gold models like the Rolex Day-Date gold Submariners and Yacht-Masters, which contain substantial gold weight,' he said. The Submariner can fetch from $25,000 to more than $40,000 these days, with the price of gold 'strengthening those upper ends,' Altieri said. New York's so-called 'precious metals dealers' are licensed by the city's Department of Consumer and Worker Protection to both buy and sell to retail customers. They also can operate special ovens that melt down gold, silver and platinum into tradable bars at 1,000-plus-degree temperatures. Advertisement The Diamond District — mainly the block of West 47th Street that stretches between Fifth Avenue and Sixth Avenue — is one of the last holdouts of 'Old New York,' with street urchins waving passersby inside buildings that house warrens of kiosks operated by jewelers, some with magnifying loops strapped across their foreheads. 5 Gold reached a record price of $3,500 per ounce in April. Stefano Giovannini Efraim Ilyayev and his father run City Gold Jeweler at 20 W. 47th St. Their stall is overflowing with silver menorahs, candlestick holders, flatware and random Judaica purchased from customers — and which are due to be melted down. 'We run out of cash all the time, which leads to unhappy customers' Ilyayev said. 'We have been getting about the same amount of cash that we have always received even though our need has increased.' Cash on hand can mean the difference between clinching a sale or watching a client wander over to the next jeweler. Some vendors who are licensed to buy so-called 'scrap' are running out before the day is over. 'Banks don't want us to have a bunch of cash lying around,' said another jeweler, referring to the Brinks and Loomis trucks that deliver cash at least once a week. 5 Most purveyors in the Diamond District will pay cash for items worth less than $2,500. Bullion Exchanges / X Advertisement Jewelers says they also must grapple with customer expectations that aren't always realistic. Alon Mirzaev of US Gold Refinery, which operates a counter at 78 W. 47th St., recently met with a customer who presented a pair of gold rings 'that had never been worn' and were still in their box. Mirzaev put them into metal analyzer machine that indicated they were 18 karat. Mirzaev offered $500 after his initial bid of $470 was rejected. The customer wanted $750, and left in a huff — declining to be interviewed by The Post. Meanwhile, most jewelers aren't licensed to buy goods from the public – and many are feeling the sting. Advertisement 'In general, the high price of gold works against the business because it's harder to sell' finished jewelry, said Curtis Lewis, a jeweler from Dutchess County in upstate New York who also recently brought a briefcase full of goods to West 47th Street. 'We work on close margins.' 5 Business is soft for traditional jewelers who mostly sell rather than purchase jewelry from consumers. Stefano Giovannini Danny Bor of Mr. Jeweler, which has a counter at 23 W. 47th St., agreed it's 'a slower time for selling jewelry,' because people don't want to pay extra for gold. A longtime customer recently asked him to buy her gold-and-diamond tennis bracelet, but she thought the diamonds were worth more than he did. Bor — partly because she was a good client, and partly because of the value of the gold — agreed to painstakingly remove the tiny studs so she could sell them to another jeweler. Advertisement On occasions when customers are looking to buy gold rather than sell it, it's often not jewelry that interests them. Tysetlin's cllients last week included a 72-year-old retiree from Connecticut named Roger, who walked out with $6,000 worth of gold and silver coins inside a flannel, drawstring bag. The last time he'd purchased coins in the Diamond District was during the 1982 recession, he said. 'This is my precautionary hoarding' amid an uncertain economy, he told The Post, adding that he was looking to diversify his portfolio with a more 'stable' investment. 'Coins are a good bet.' Explore Top Gold IRAs American Hartford Gold American Hartford Gold is a precious metals dealer that specializes in gold and silver for physical delivery and retirement accounts. With a reputation for clear pricing and personalized service, it offers tailored solutions, secure storage, and a price match guarantee, helping investors hedge against inflation and uncertainty. learn more Goldco Goldco is a leading provider of gold and silver IRAs, helping investors protect and grow their retirement savings with precious metals. With a strong reputation for client satisfaction, GoldCo makes it simple to diversify your portfolio with physical gold, offering personalized consultations, secure vaulting, and tax-advantaged strategies. learn more Patriot Gold Patriot Gold is a top-rated Gold IRA provider known for its No Fee for Life IRA program and endorsements from prominent conservative figures and organizations. With a minimum IRA investment of $25,000, the company offers low-cost bullion, premium coins, and a strong reputation backed by an A+ BBB rating and years of trusted service. learn more New York Post may be compensated and/or receive an affiliate commission if you click/buy something through our links.

Leonardo DiCaprio's alleged compliment on Tom Brady's Rolex sparks viral AI debate
Leonardo DiCaprio's alleged compliment on Tom Brady's Rolex sparks viral AI debate

Time of India

time15-06-2025

  • Entertainment
  • Time of India

Leonardo DiCaprio's alleged compliment on Tom Brady's Rolex sparks viral AI debate

A viral video featuring Leonardo DiCaprio praising Tom Brady's rare Rolex at a gala has sparked debate about its authenticity (Getty Images) In an age where deep fakes and AI-generated videos blur the line between real life and digital fiction, a new viral clip featuring Leonardo DiCaprio and Tom Brady has stirred both fascination and skepticism. The footage, which appears to show DiCaprio praising Brady's ultra-rare Rolex watch at a private gala, has viewers asking: did it really happen—or is this just another stylish AI illusion? Tom Brady's Rolex collection continues to turn heads at high-profile events Tom Brady, the legendary seven-time Super Bowl champion, isn't just known for his dominance on the football field. He's also become a connoisseur of elite watches. Most recently, Brady was spotted at a private event in Los Angeles donning a Rolex Day-Date with an Olive Green Arabic Dial. With a price tag of $175,125 and the nickname 'Middle East exclusive,' this timepiece isn't something you casually flash—unless you're Tom Brady. It's this showstopper of a watch that reportedly caught Leonardo DiCaprio's eye. According to a YouTube video making the rounds, the Killers of the Flower Moon star approached Brady while he was admiring an art piece and delivered the now-viral line: 'Didn't know you had Middle East exclusives in your playbook.' To which Brady supposedly replied with equal flair: 'Seven rings open strange doors.' Fans call out AI fakery—but can't deny the cool factor The clip feels like something out of a movie—maybe too much so. As slick as the interaction sounds, many viewers believe it's the work of AI. One YouTube commenter summed up the mood perfectly: 'This is high-end cap.' Still, there's precedent for such an encounter. Brady and DiCaprio have crossed paths at celebrity-packed events before, including a Jay-Z-hosted bash in Las Vegas. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo And Brady's watch game has long attracted attention—sometimes praise, other times controversy. His $600K Jacob & Co. Caviar Tourbillon, worn during his Super Bowl LIX broadcast debut, drew mockery online and was dubbed a 'distracting flex' by GQ. Even if the viral moment turns out to be AI-generated fiction, it's not far from reality. Brady's wrist has been home to some of the most exclusive timepieces in the world, including a limited edition Royal Oak reportedly gifted by former Audemars Piguet CEO François-Henry Bennahmias. Also Read: Tom Brady's loss? Gisele Bündchen says she's finally earned her happiness without him So, did DiCaprio actually compliment Brady's Rolex? Maybe not. But when the GOAT walks into a room, real or not—people always notice.

Leanna Lenee gifts Travis Hunter a Rolex before NFL Draft but fans think he paid for it himself
Leanna Lenee gifts Travis Hunter a Rolex before NFL Draft but fans think he paid for it himself

Time of India

time25-04-2025

  • Entertainment
  • Time of India

Leanna Lenee gifts Travis Hunter a Rolex before NFL Draft but fans think he paid for it himself

Travis Hunter and Leanna Lenee with Heisman Trophy (Image: Instagram) The 2025 NFL Draft was full of flashy entrances, headline-grabbing suits, and major trades but one of the most unforgettable moments came before a single name was called. Travis Hunter , the Colorado two-way phenom, was surprised with a luxury Rolex and bracelet by his fiancée, Leanna Lenee , and his reaction instantly became a fan favorite. Travis Hunter's fiancée gifts him a Rolex before NFL Draft, and his reaction melts hearts — _MLFootball (@_MLFootball) by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Build Your Career in Urban Transformation at IIHS IIHS_DU Learn More Undo Just hours before the NFL world turned its attention to the big board, Hunter had a private, heartfelt moment that stole the spotlight. Leanna Lenee, his longtime girlfriend and now fiancée, gifted him a gorgeous Rolex watch along with a bracelet both wrapped in love and symbolism. Travis, known for his cool demeanor and elite play, was visibly emotional and overwhelmed. Cameras caught the moment, and the video quickly racked up thousands of likes and reposts on social media. Leanna has kept a low profile in recent months. After facing online backlash in 2024 during Travis' Heisman campaign , she pulled back from social media and public appearances. But on draft night, she returned with a bang and not for herself, but to show up for her man. But fans weren't exactly sold on the sweetness of the gesture. A large chunk of social media felt the Rolex and bracelet were likely bought with Travis' own money and they didn't hold back. Travis and Leanna's relationship has been in the public eye for a while. The two have reportedly been together since their high school days in Georgia and got engaged back in February 2024. Their bond has only strengthened despite the pressures of college football stardom and internet drama. What kind of Rolex did Travis Hunter get and how much does it cost? While exact details of the watch haven't been confirmed, the model looks like a gold Rolex Day-Date with a champagne dial, a favorite among athletes and entertainers. Estimated value? Anywhere from $40,000 to $55,000, depending on the customization and diamond detailing. Also read - Inside Shedeur Sanders' legendary draft room and his unforgettable NFL Draft day outfit Hunter didn't have to wait long to hear his name. The Jacksonville Jaguars shocked the crowd by trading up with the Cleveland Browns to take Travis at No. 2 overall. And yes, the Rolex was on full display as he hugged Roger Goodell and posed for pictures. The moment felt full circle: from receiving the watch as a symbol of love to wearing it on stage as a first-round NFL pick.

Travis Hunter's fiancée lavishes two-way star with $50K gift ahead of NFL Draft
Travis Hunter's fiancée lavishes two-way star with $50K gift ahead of NFL Draft

Daily Mail​

time24-04-2025

  • Entertainment
  • Daily Mail​

Travis Hunter's fiancée lavishes two-way star with $50K gift ahead of NFL Draft

Just before he was about to hear his name called at the NFL Draft in Green Bay, Travis Hunter's fiancée gifted the future football star a watch to wear to the ceremony. In a video posted to the Instagram story of Hellion 'Boog' Knight, the head of operations for Young Money APAA (the agency Hunter is signed to), Hunter's fiancée Leanna Lenee is seen walking into his room while holding a green watch box behind her. The video, which features the Boosie Badazz song 'Rolex Baby', shows Lenee in a black t-shirt surprising the football star with a watch. It appears that the cornerback/wide receiver prospect received a Rolex Day-Date (Reference No. 228235). The beautiful timepiece appears to have a brown dial inlaid with diamonds in a rose gold case that features a fluted bezel. It's completed by being set on a rose gold oyster bracelet. While the watch in a 'plain jane' style runs more than $40,000 the additional diamonds raise the price up to just north of $50,000, according to the Rolex website. Later in the evening, Lenee and Hunter hit the red carpet before the Draft - with Hunter sporting a bright pink suit for the occasion. It's been a rocky season for Lenee and Hunter's relationship as the public have cast doubts on Lenee's motives for dating the star. This forced Lenee to defend herself in a lengthy eight-minute video posted after Hunter won the Heisman Trophy. As Hunter was announced as the winner of the prestigious award, Lenee initially remained sitting while Hunter's mother and Buffaloes coach Deion Sanders stood up. She briefly stood and gave Hunter a hug after Sanders appeared to tap her, but promptly sat back down as Hunter continued embracing his group. Fans took issue with what they perceived to be a slight, sparking horrific backlash on social media. It's one of many perceived slights Lenee had to address. Others included a tense moment after a game against Oklahoma State and some comments she made as Hunter was taking photos with female fans during a pre-Heisman photo shoot. On a Twitch stream after the ceremony, Hunter revealed that Lenee had cried herself to sleep as she continued to be pelted with criticism. The couple went through a tough season where Lenee was barraged with public criticism 'She's still sleeping, she's slumped,' the Heisman winner shared on a Twitch stream. 'You know when you're hurt but you just cry yourself to sleep and you just be gone? She drunk [sic], like, an OD amount tonight for no reason.' Hunter told people to stop targeting her, specifically calling out 'clickbait' pages, social media accounts, and websites. 'Clickbait pages stop, y'all better stop I'm telling y'all. Something bad is gonna happen to y'all [if you] keep doing that. Y'all better stop that. I ain't playing,' he said. 'Y'all hate on me then you go hate on my girl,' the two-way star continued. 'I feel the same thing that she feels. We're inseparable. We're with each other. If she's hurting, I'm hurting.' Hunter and Lenee have been dating for five years, according to the football star. They are set to be married next year.

Bad Bunny's vintage luxury watch collection, from Rolex to Cartier: the Puerto Rican rapper wore an Audemars Piguet to the Grammys and a Patek Philippe for his GQ shoot … both ladies' watches
Bad Bunny's vintage luxury watch collection, from Rolex to Cartier: the Puerto Rican rapper wore an Audemars Piguet to the Grammys and a Patek Philippe for his GQ shoot … both ladies' watches

South China Morning Post

time22-04-2025

  • Entertainment
  • South China Morning Post

Bad Bunny's vintage luxury watch collection, from Rolex to Cartier: the Puerto Rican rapper wore an Audemars Piguet to the Grammys and a Patek Philippe for his GQ shoot … both ladies' watches

Puerto Rican superstar and 'King of Latin Trap' Bad Bunny is in a league of his own when it comes to style. With nearly a decade of chart-topping hits under his belt, he's not only become the face of Latin hip-hop and reggaeton – he's looked the part every step of the way. He is known for his bold, genre-blurring style and his wardrobe reads like a visual mixtape: gender-fluid silhouettes, head-turning statement pieces and era-hopping references that span Y2K, 1970s glam and old Hollywood elegance. Bad Bunny at the 2025 iHeartRadio Music Awards in Los Angeles, in March. Advertisement That fearless approach extends to his watch collection. Like his fashion sense, it's not about the price tag or even exclusivity – though let's be real, he has access to the rarest timepieces out there. No, for Bad Bunny, 31 – real name Benito Martínez Ocasio – it's about the story, the unexpectedness, the cool factor. He's just as likely to wear a classic women's watch , with numerous vintage Cartiers, Pateks and Audemars in his collection, as he is a flashy status symbol. Here are some of Bad Bunny's most elegant and eclectic luxury-watch moments. Rolex Day-Date 'Wood Dial' The 'Wood Dial' Rolex Day-Date is a throwback to the 1970s. Photo: Handout Bad Bunny's preference for the unusual over the obvious shines through with this unexpected Rolex. Rather than opting for the flashiest model in the case, he chose a vintage Rolex Day-Date, a rare late-1970s reference with a wooden dial, reports GQ. It's a throwback that speaks to the era of wood-panelled cars and shag-carpeted dens, and feels right at home for someone who has never shied away from retro aesthetics. Custom Rolex Datejust on Chrome Hearts Bad Bunny performing at the 2023 Coachella Valley Music and Arts Festival, California. When Bad Bunny made history at Coachella 2023 as the first Spanish-language artist to headline on the festival's main stage, the moment deserved something outstanding – and he delivered. He wore a rose gold Rolex Datejust, custom-modified by LA jewellery design house Shay Jewelry, who added rubies to the dial and replaced the original strap with a diamond-studded chain link bracelet by luxury fashion label Chrome Hearts. Cartier Santos 'Carrée'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store