Reply With QuoteWow. So you mean i can buy a virtual share in an Aquanaut since there’s zero chance I’ll ever own one. And i get to put a (digital) picture on my wall of a watch whose crown i own part of.
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Just seen this as an advert on Instagram. You've got to be kidding.
Are you allowed to wear it one weekend a year? Is it literally the same as owning a share in a company? Who wears it while you're paying for it?
Advertised as passive income from a token of a watch. Seen it all now.
Recession indicator #384362828
Wow. So you mean i can buy a virtual share in an Aquanaut since there’s zero chance I’ll ever own one. And i get to put a (digital) picture on my wall of a watch whose crown i own part of.
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Totally justifies my decision to boycott social media if that’s the kind of people who are out there.
Surely that’s just a scam.
I was all in until I their atrocious spelling (and lack of hyphen).
On the wear side of things, not that much different perhaps from your current situation, given you need to visit your safe deposit box for a change in wearer? (o;Originally Posted by wileeeeeey
Just another investment vehicle, I was having a long heated conversation with a work colleague today pretty much about something very similar, schemes like this will probably drive the prices even higher. Giving real meaning to the “you never actually own a Patek “
At least they will get more wear than most of the stickered safe queens on this forum which only see a keyboard for a special picture on Friday….. my everyday watch…. My arse.
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A great idea, to help fund a nice watch for yourself.
You sell shares in what is basically a picture of a watch (NFT) then you use the money to buy the actual watch, as the investors have paid in to purchase the picture you get to wear the watch.
Ahem, nobody is wearing the watch. It's just sitting in a safe as collateral for the NFT.
Someone who lies about the little things will lie about the big things too.
How will the people operating these schemes obtain the watches that are effectively unobtainable to others?
If they buy on the grey market, there's a significant risk that greater availability could kill the whole scheme if prices drop...
Or worse - as a token holder, could you become liable for the loss?
I assume those watches will have to be bought on the grey market, where else?
And obviously, a token holder owns a part of the watch so will be on the hook if the value goes down. Just think if you owned all the fractional interests in one particular watch, then you will simply own the watch. Price goes up, you make a profit, price goes down, you make a loss.
If you ever find an investment where you only enjoy the upside and somebody else takes the downside, please let me know. I will put every penny that I have and can borrow into it.
Someone who lies about the little things will lie about the big things too.
Genius.
Every fintech buzz word lobbed in there.
Pyramid scheme by any other name.
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I have no problem with the idea behind it. It is like investing in anything else.
The only problem which I imagine most would have is the high unlikelihood of prices continuing to up or even stay at current levels.
This specifically justifies a decision to boycott social media? Wouldn't it also be justification to boycott the internet as well then? And watches? And investments? You see where I'm going with this right
I think the idea in principle is fine, no different from buying a share in any asset, be it a company or index, etc. But apart from concerns about, I imagine, the near complete absence of any meaningful regulation in this market:
- how can you ensure reliable pricing, especially in the rarer, more expensive pieces, without which there is easy room for price manipulation and
- what will the liquidity be like, i.e. who's going to buy your share when the prices start heading south and you want to get out?
Absolutely agree with this. It's entirely speculative, nobody wants a small fraction of a watch that's dropping in value so it requires a constant stream of new investors to prop it up, it's a Ponzi scheme.
Is it perhaps a belated April Fool? It even states 'Going to the moon' on the webpage (maybe they bought a Speedie already!).
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That is a new one !
Cannot see it cathing on for obvious reasons as stated above, but who knows, everything is entirely unpredicatable these days.
For a time, the recently floated Watches of Switzerland plc was a good proxy for expensive watch prices. Just looked and the share price is down 27% since the turn of the year. Guess that reflects the cap on their growth potential as they can’t (for now at least) get any more Rolex stock than they do currently.
You have to join the virtual waitlist - just like the real Rolex waitlist then!! Nothing changes..
The fact that you don’t get an actual watch you can strap on takes away the fundamental aspect of the hobby. This should really be marketed at those who are solely in it for a quick return.
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from now on, whenever i sell a rolex or patek on sc (lol) i will buy shares in this as a hedge against future heartbreak
Utter nonsense.
When you look long into an abyss, the abyss looks long into you.........
Join the waiting list eh. I imagine they would be back to you quite quickly. I suppose the timeshare boys had to move into something different.
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