Thanks for the reply. Perhaps I should take a look into expanding my watch collection hobby. Basically my only limitation is that its increasingly difficult to find good deals as I get into higher priced watches.
I can definitely find great deals on watches in a lower price point, but at that point I start really running the risk of needing an overhaul. On a sub $1000 or even $2000 piece, a $500 service will effectively kill any sort of profit I may make.
On the other hand, I can sell watches to US buyers if the Canadian dollar does plummet like many are speculating. That way if CAD values go down, my watches increase in value.
Im in a unique position actually where I might be able to find watches listed in Canada that are cheaper than the going rate because of the weak canadian dollar. Alot of local sellers are basing their selling price on what they paid a few years ago in canadian dollars which is considerably less than what I could list them for. (10-20% lower). However there's always the risk that the canadian dollar goes up. For example, if the Cad dollar reaches USD values, then I wouldn't make any money on my Rolex. I could probably break even, but I would consider that a loss because of the time and effort I put into getting this watch.
Im also considering getting into buying gold and silver. Because of the Canadian dollar being so low, I can find people selling gold jewelry for very close to scrap price. This is in part due to undervaluing the value of gold, and also due to the the lower demand for luxury goods in Canada because of the economy. For example, I found a 18k Solid gold chain that weighs 28g selling for $1300 CAD. I could probably negotiate this price a bit lower as well. Given the current gold price, that has a scrap gold value of $1150 CAD. Im thinking of taking advantage of these low prices in anticipation for a drop in the CAD dollar. If the cad dollar drops to 65 cents, for example, then that chain becomes worth $1300 just as scrap value. If I list it online and market towards US buyers, I should be able to sell it for much higher than that value. (From what Ive seen, I should easily be able to ask for $2k or so).
This is a little less of a risk because gold will always have a melt value no matter what happens to the economy, and unlike with watches, there is nothing that can break.