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by notimrelakatos
1708 days ago
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They are stupid, but rich people sometimes wear them for a reason, if they ever get stranded in a messy situation and their wealth is confiscated, they can still sell their watches and other miscellaneous items to bootstrap themselves outta poverty zone. |
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Huh? That doesn't make any sense.
1. "if they ever get stranded in a messy situation": I'm interpreting that as a situation where they need to barter the watch or use it as a bribe. However there's hard limits on how much they could realistically get for a watch due to the seller's desperation and the buyer's risk (I'm guessing a few thousand dollars), even if they paid tens of thousands or more for it. The cheapest gold Rolex you can find (or maybe even a knock off) makes far more sense for this use case than some elite status watch.
2. "if ... their wealth is confiscated": anyone confiscating their "wealth" to the point where they're in the "poverty zone" more than likely will confiscate valuables like $100k watches, jewelry, art, etc. Planning for that to be your "back up wealth" is about as dumb as planning on living in your garage if you ever lose your home.