330million $ worth of Reps seized in Dubai

[Mr.Marbella]

Just saw this article :

2 Asian geezas were doing it big over in Dubai.
330m$ worth of reps seized by Dubai authorities - https://www.google.de/amp/s/amp.ara...-police-seizes-fake-luxury-watches-worth-330m


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[Art Tic]

Expensive reps at $11,000 each... Might as well buy gen.

 

[mrsullivan]

These "330 millions" numbers can't be right right?

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[nalomb]

These "330 millions" numbers can't be right right?

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My guess is that they valued them based on their genuine counterparts. Assuming an average value of $400/each, the all-in number of just over $11MM makes more sense ...


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[Katarsis]

My guess is that they valued them based on their genuine counterparts. Assuming an average value of $400/each, the all-in number of just over $11MM makes more sense ...


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That means I have reps worth over 50k.

Anybody wanna buy?

 

[nalomb]

That means I have reps worth over 50k.

Anybody wanna buy?

I'm sure a prosecutor would love to use that $50k number. If it were me, I'd be happier around the $2k mark haha

 

[gigi77]

That means I have reps worth over 50k.

Anybody wanna buy?

Ups... I just realized I am over the 650k value.

 

[Natas78]

Looks like there's a job opening over in Dubai right now ))

 

[mydnytrydr]

That's a LOT of watches!!

 

[Faj]

I thought over there the people have lots of cash at hand to buy Gens like candies.

Nothing is sure nowadays.

I have no words.

 

[stufuse]

I thought over there the people have lots of cash at hand to buy Gens like candies.

Nothing is sure nowadays.

I have no words.

The reps are for the tourists.


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[Faj]

Oh ic

have been watching the Gens at the airport-
wasnt impressed.

they may have been reps

:whistling:

 

[efajri]

Is $330M of persian dollar (iranian rial)?


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[Lizandro]

the dark side of reps people fooling others

 

[CaptainSplash]

Is $330M of persian dollar (iranian rial)?


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You mean UAE Dirham?

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[nalomb]

The article clearly statues that the value was 1.2BN AED, or equivalent to $330MM USD at the time of printing


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[efajri]

You mean UAE Dirham?

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Nope. I really meant it as Iranian Rial as it is one of the worst currencies in the world. So $330M would be around $7k USD.
It was just for a laugh like saying $330M of monopoly money etc.

 

[CaptainSplash]

Nope. I really meant it as Iranian Rial as it is one of the worst currencies in the world. So $330M would be around $7 USD.
It was just for a laugh like saying $330M of monopoly money etc.

Gotcha Mate

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[Hor-Fan]

It might as well be Monopoly money as it’s an inflated valuation meant to sensationalize the seizure. No doubt Nalomb is correct in his assertion that the 330 M figure was arrived by assigning full gen value to each of the reps. The same prosecutorial math is used in drug busts when they value bulk shipments at street-level per gram prices - $20,000 dollars worth of blow becomes a much more impressive million dollar bust for the sake of good press.

 

[Diablo8]

Thank you for sharing. That was a huge operation with a lot of money and a lot of watches.