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I think that's the whole point of luxury watches. No rolex owner is under the illusion that they are somehow intrinsically worth so much.
by the_black_hand 3y ago
I think that's the whole point of luxury watches. No rolex owner is under the illusion that they are somehow intrinsically worth so much.
- AniseAbyss 3y ago[dead]
- jaredklewis 3y agoCan’t buyers decide for themselves the value of something?
- jakupovic 3y agoNot on hacker news! Herre the group think only allows for things that everyone agrees on and some are completely non-grata, like BTC, which none, supposedly, like. Let me translate, i have tried to evoke the same argument and "lost" saying the value is what we assign to anything (BTC)
- thatguy0900 3y agoTo some degree, but if something is 100$ worth of parts and 500$ worth of labor it's hard to argue it's actually intrinsically worth 30000$, even if that's what you're willing to pay.
- hnfong 3y agoNot if there's a "moat". Which could be unique expertise in making the thing, or through some government enforced monopoly like trademarks (i.e. "brand") or copyrights.
- gmerc 3y agoThe owners are under no illusions - at least not the professional ones. They are buying an asset that is vastly more efficient to move across borders than cash. Look at the Singapore Money Laundering Bust a few months back - all handbags and rolexes.