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Watches As Tools Of Money Laundering And Illicit Finance
Posted on 1/9/24 at 6:43 pm
Posted on 1/9/24 at 6:43 pm
Pretty interesting article talking about how high end watches are being used as a means of money laundering across various countries. Even some foreign politicians caught up in it.
LINK
LINK
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Posted on 1/9/24 at 7:44 pm to Shepherd88
I’ve always assumed watches/jewelry and art were mostly used for money laundering once you get to the $50k+ price ranges.
Posted on 1/9/24 at 8:01 pm to Shepherd88
NFTs lost their final use case
Posted on 1/9/24 at 8:32 pm to Shepherd88
I’m not a watch guy, but what’s the hit you take if you buy a Rolex and then turn around and sell to a legitimate dealer the next week? 10%? 20?
Posted on 1/9/24 at 10:44 pm to Shepherd88
Add books to the list with art as best ways for politicians to take bribes.
Posted on 1/10/24 at 9:52 am to turkish
Depends on the watch. Depends on the time. Currently, most Rolex watches purchased at retail can be flipped for profit. Problem is they aren't in the case for you to buy.
Posted on 1/10/24 at 9:56 am to Shepherd88
You'd be surprised at how many old school hustler types have 7 and 8 figures of watches stuck in a safe.
Posted on 1/10/24 at 2:12 pm to TSLG
quote:
You'd be surprised at how many old school hustler types have 7 and 8 figures of watches stuck in a safe.
I'm not saying Obtuse is an old school hustler, but he for sure has 7 figures of watches in his safe.
Posted on 1/10/24 at 9:42 pm to Shepherd88
The fact that this goes for $30k? God bless the marketing folks at Rolex .
Posted on 1/11/24 at 9:53 am to weurf3
quote:
most Rolex watches purchased at retail can be flipped for profit. Problem is they aren't in the case for you to buy.
I do understand what you mean here, but I’m not sure that I’d call needing to have a special relationship with a dealer a true “retail purchase”.
Posted on 1/11/24 at 1:12 pm to Jag_Warrior
You can call it anything, but the price you pay for a watch at an AD is the retail price. Rolex sets that number and AD's must follow pricing.
The "special relationship" you refer to is buying other items from their "book of brands" and being given the opportunity to purchase a Rolex of their choosing.
It's an incredible model. When you don't have shareholders to answer to, you can follow whichever model you desire.
The "special relationship" you refer to is buying other items from their "book of brands" and being given the opportunity to purchase a Rolex of their choosing.
It's an incredible model. When you don't have shareholders to answer to, you can follow whichever model you desire.
Posted on 1/11/24 at 2:20 pm to Shepherd88
This has always been a thing. Think sports fixing.
Posted on 1/11/24 at 3:48 pm to FishinTygah84
quote:
I'm not saying Obtuse is an old school hustler, but he for sure has 7 figures of watches in his safe.
I’m jealous. I have one Rolex and I am itching to buy about 4 more watches.
Posted on 1/11/24 at 8:07 pm to Shepherd88
I cannot tell the difference between expensive watches and cheap.
I bought a Swiss Army General 22 years ago and still enjoy it. Maybe $200?
I stopped wearing it for 10 years due to cell phones. But recently picked it back up.
It looks nice I guess.
But 50k for a watch is silly.
I bought a Swiss Army General 22 years ago and still enjoy it. Maybe $200?
I stopped wearing it for 10 years due to cell phones. But recently picked it back up.
It looks nice I guess.
But 50k for a watch is silly.
This post was edited on 1/11/24 at 8:08 pm
Posted on 1/11/24 at 8:33 pm to Shepherd88
Wear the watch to foreign country and sell/trade it once you get there.
Old trick to transfer cash internationally.
Old trick to transfer cash internationally.
Posted on 1/12/24 at 8:04 pm to Shepherd88
Posted on 1/16/24 at 4:27 pm to Shepherd88
quote:Copy/Paste for art. Same principle. The value is arbitrary. It's simply an opinion expressed in dollars at the time of sale.
Pretty interesting article talking about how high end watches are being used as a means of money laundering across various countries. Even some foreign politicians caught up in it.
Posted on 1/17/24 at 3:26 pm to Shepherd88
quote:
Watches As Tools Of Money Laundering And Illicit
Nothing to do with actual money laundering, but reading the article did make me think of this thread.
Arnold Schwarzenegger detained at Munich airport over imported watch
Posted on 1/17/24 at 3:35 pm to Jag_Warrior
Arnould did not want to pay his taxes. Glad for others to though.
"We Have the Power" (Attendees at his Enviro fundraiser)
"We Have the Power" (Attendees at his Enviro fundraiser)
This post was edited on 1/17/24 at 3:45 pm
Posted on 1/19/24 at 10:44 pm to evil cockroach
I got this watch in last week. Daytonas don’t really need marketing to sell. You can thank Paul Newman.
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