|Richard Mille Watch|
Just came across a story about someone getting shot by a thief who wanted his half-million-dollar Richard Mille Watch and I'm thinking WTF? I've heard of other ridiculously expensive watches, but I've never heard of a Richard Mille Watch. Where did these guys come from, and more importantly, how many other ridiculously expensive watch companies are out there? I can see if you have a zillion dollars you might be inclined to go out occasionally and blow a million bucks on some play-pretty. But how many zillionaires are there? And how many of them are inclined to spend money on something like a watch? I just don't understand the economics of it. There are roughly 2800 billionaires in the world today. Let's say 1% of them have a hankering to blow a million bucks on fancy gee-gaw every year. That's 280 million dollars. If you figure 100 K per year for each watch maker and salesman, that's full time, first class employment for 2800 people. So, okay, I guess you could make an industry out of that.