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Look, I don't disagree with the fact that it's largely bollocks and blatantly another mechanism for money laundering.
My guess is that like regular art the huge values are manipulated.
Overall though I think there is a lot of trying to rationalise the value of something that is just as irrational as almost every other similar asset.
Edit: obvs I get the value of authenticity
hugo7
My only challenge is that I get its a one off, but it's a one off in an infinite series of one offs.
(also,a limited watch series is hoax...)