The Hour Glass

[specuvestor]

I’m just amazed they can gather so much money which in a sense is also a sign of bubble eg dot com shell companies and the recent SPAC

The 2 are on interpol so I think there’s a good case. They chose to be rich criminals than free Spartans 🙂

Many of these watches are Brand New In Box or so they claim. Doubt they will allow you to open up. To paraphrase Buffett it’s to take out and fondle them once a while. I’ve seen the YouTube videos but usually are low grade imitation comparisons. When the stakes are high I’m sure there will be many incentivised. I would have thought one is extra careful when handling over large sums to people on the net but I can be wrong 😬

I've stated that 2021 is not as crazy as back in GFC or dot com. Frankly anyone competent can see a bubble but nobody knows when it will burst

https://www.valuebuddies.com/thread-8536...#pid163257

This watch segment is however a lesson of what a real bubble looks like.. almost 7X of retail price. What are GPU buyers complaining about? At least it's more durable than sports shoes

I've no idea how people authenticate these and am not surprised by the recent duo in Singapore that absconded from this bubble but more surprised at the crazy $32m amount that's like robbing a armoured bank truck

That's what you call a Long Con, or you could even say it may not have started out as a con as they were supplying genuine luxury watches to many buyers worth 10k/20k or more each. Then perhaps they piled up orders till 32m and decided since the bottom had fallen out of the watch market and no more demand, just abscond with the profits and retire on the beach in Thailand like a king. It will be very hard to charge them, especially if you cant find them, as they were probably not running this as a business, but as a private collectors group thing.

Nowadays with so much liquidity and greed in the world, its probably much easier to run a white collor type con like this, or like 3AC crypto thing, and just run road/plane than to physically try to rob something, where you cant run. 


You can bring to watch dealer or watch repair shop to authenticate, usually open up and look at the "movement" and jewels and components will tell, also magnifying close up of watch dial components will show often as almost all fakes have rough finishing. Youtube also has a lot of informative videos on spotting the fakes