[lunaru]

A rare watch is an IYKYK item and the iconic pieces are immediately noticeable from across the room. I do wonder if the deflation in asset prices (driven by increase in interest rates) will put downward pressure on some of the craziness right now.

But for someone who is outside looking in, and wondering what the fuss is all about: A watch, especially Patek Philippe is much better for signaling status to those you want to send that signal to, while completely being unnoticeable by an audience from whom you don't want negative attention. At the same time, it appreciates like fine art that you can take with you on your wrist. It has a lot of the characteristics of investment assets that are desirable.

It's crypto v0.1.

[anjel]

See also the booming Rep (replica) Watch scene, where $100-300 gets you a very passable knockoff PP that signals the same, especially from across the room.

In California, IYKYK, but so do the streeet thugs. $200k is a nice payoff for 30 seconds worth of risk.¹

[1]https://archive.ph/MY0Hb