redcorals
3853
We have been seeing this long before this or any other mainstream media articles surfaced. Not all luxury watches but a few select pieces receiving superfluous bids in auctions, even smaller
..100K+ unworn pieces from ADs are being used as conduits - they are not used to buy/sell but simply as a security. In last 5-7yrs a lot of cash has been fleeing EMs and finding its way in RE/other assets across the globe. The govts on both sides are now trying to put curbs on these activities (a little too late IMO). Some AGs are already onto this on some high flying cities now that it has become a big socio-eco issue.
Why cryptocurrencies will never go away like luxury watches.
I’m shocked by the claims of this article. It’s says watches are used as an international means of money transfer. Buy a watch. Fly to another country while wearing it. Then sell. Kinda sad for stuff we love. link.medium.com
eh
I'd take the article with a grain of salt. The authors of the article are trying to muster attention for a crypto exchange, so any marketing good or bad is considered marketing. Wristwatches have been around for over 100 years. An item used by everyone fo...
Personally I’m not shocked as it’s been going on for decades
I don’t agree with the the morality but it’s a fact of life.
I've not read the article but I have long believed that the market for some watches are mostly driven by this.
If dealers had any requirement to know who their client was, and determine where the funds came from, they would see a significant drop in volume of transactions and we would see a material fall in prices. There's no easier way to move money around the wo...
We have been seeing this long before this or any other mainstream media articles surfaced. Not all luxury watches but a few select pieces receiving superfluous bids in auctions, even smaller
..100K+ unworn pieces from ADs are being used as conduits - they are not used to buy/sell but simply as a security. In last 5-7yrs a lot of cash has been fleeing EMs and finding its way in RE/other assets across the globe. The govts on both sides are now ...
My understanding is during the purge in Indonesia a few decades ago,
many rich ppl property were damage by rebel. So the rich ppl ran overseas (to Singapore and etc) literally empty handed. But they still wore “you know what” and pawn or sell away to get cash. Yup so I am not surprise by what you said as some hot model wat...
