𝚃𝚒𝚖𝚎𝚕𝚎𝚜𝚜 𝚒𝚗𝚟𝚎𝚜𝚝𝚖𝚎𝚗𝚝𝚜 - Part II

Looked at the subject matter again.

Part I: https://app.getquin.com/activity/PFSzNoWiME

The Youtube links in the old post are unfortunately only useful in the web version, otherwise all videos would be embedded below the post.

Part III: https://app.getquin.com/activity/tGsaqiLdPH

Since recently a contribution in the 𝐅𝐢𝐧𝐚𝐧𝐜𝐞𝐅𝐨𝐫𝐰𝐚𝐫𝐝 𝐏𝐨𝐝𝐜𝐚𝐬𝐭 appeared I have times purely heard. Likewise, also in some older with the CEO but there came to me from the interlocutors too few critical follow-up questions. Who wants to read a field report @meta has written something about timeless: https://app.getquin.com/activity/mjrMxACXhl

First of all, it was confirmed what I had already suspected in the old article, that the previous gapless project is being left alone.

"𝘋𝘢𝘴 𝘗𝘳𝘰𝘫𝘦𝘬𝘵 𝘎𝘢𝘱𝘭𝘦𝘴𝘴 𝘧ä𝘩𝘳𝘵 𝘥𝘢𝘴 𝘛𝘦𝘢𝘮 𝘦𝘳𝘴𝘵 𝘦𝘪𝘯𝘮𝘢𝘭 𝘻𝘶𝘳ü𝘤𝘬." [1]

Now that I have also looked at the 𝐅𝐚𝐜𝐭𝐬𝐡𝐞𝐞𝐭𝐬 for some objects I have noticed a few oddities. Apparently they have decided on a fixed number of 3 links to give under "Reading on the subject". Depending on the object, it seems to be difficult to find 3 suitable sources. If you want to read about the Balloon Animals by Jeff Koons, you won't be happy with the links from the factsheet [2]. Link 1 refers to the Koons website, but to a subpage that deals with a different object. Link 2 goes to a paid course by Koons on masterclass.com and link 3 goes to an automatically generated page on Google Arts & Culture.

The factsheets also include the 𝐁𝐞𝐫𝐞𝐜𝐡𝐧𝐮𝐧𝐠 of the previous 𝐖𝐞𝐫𝐭𝐞𝐧𝐭𝐰𝐢𝐜𝐤𝐥𝐮𝐧𝐠. The large percentage values that are advertised also come from the calculation. This requires a purchase price and the inflation rate to calculate the inflation-adjusted purchase price.

For the Patek Philippe Aquanaut 5066 J it says:

Purchase price 60,310*0.2156 = €13,002.836 [3].

Presumably, the purchase price of the foreign currency is converted only which, no idea.

The inflation rate per year Timeless gives with 2%. No matter how old or new the object is. Thus the inflation is partly overestimated and partly underestimated. For older properties this has a significant impact, if you look at the inflation rates of the 60s to 80s alone. It is understandable to simplify the calculation but I do not find it ideal. With past inflation rates of up to ~8%, one shows so ~6%, in the year, as an increase in value, which there has not been.

In the Finance FWD podcast, the 𝗙𝗿𝗮𝗴𝗲 𝗻𝗮𝗰𝗵 the 𝗦𝗶𝗻𝗻 of the application 𝘃𝗼𝗻 𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻 is asked again. From my point of view, it is not answered satisfactorily. Who wants to listen for himself from 15:03 [4].

At 16:25, there is talk of trading Timless Tokens on other platforms. But here I ask myself a crucial question: If the tokens are traded outside of Timeless, how does Timeless fill the gap of the missing fees? Currently, Timeless earns on customer-to-customer sales. On an external trading platform, that would be eliminated. Certainly, an implementation could be found that returns fees to Timeless for each transfer. But here the question would be, what incentive would other trading platforms have to make Timeless tokens tradable? Normally, trading venues earn money from trading. If I as a customer then pay the trading venue and Timeless, why not trade directly with Timeless? The only option I see in the current constellation would be that Timeless can finance itself with the fees at issuance alone. How realistic that is, I cannot say. It is also unclear to me how the following passage from the framework agreement fits with this statement.

𝘕𝘦𝘸 𝘏𝘰𝘳𝘪𝘻𝘰𝘯 𝘸𝘪𝘳𝘥 𝘴𝘪𝘤𝘩 𝘯𝘪𝘤𝘩𝘵 𝘣𝘦𝘮ü𝘩𝘦𝘯, 𝘥𝘪𝘦 𝘡𝘶𝘭𝘢𝘴𝘴𝘶𝘯𝘨 𝘷𝘰𝘯 𝘛𝘪𝘮𝘦𝘭𝘦𝘴𝘴-𝘛𝘰𝘬𝘦𝘯 𝘻𝘶𝘳 𝘏𝘢𝘯𝘥𝘦𝘭𝘣𝘢𝘳𝘬𝘦𝘪𝘵 𝘢𝘯 𝘨𝘦𝘦𝘪𝘨𝘯𝘦𝘵𝘦𝘯 𝘒𝘳𝘺𝘱𝘵𝘰-𝘉ö𝘳𝘴𝘦𝘯 𝘰𝘥𝘦𝘳 𝘔𝘢𝘳𝘬𝘵𝘱𝘭ä𝘵𝘻𝘦𝘯 𝘻𝘶 𝘦𝘳𝘸𝘪𝘳𝘬𝘦𝘯. 𝘌𝘪𝘯𝘦 𝘓𝘪𝘴𝘵𝘶𝘯𝘨 𝘥𝘦𝘳 𝘛𝘪𝘮𝘦𝘭𝘦𝘴𝘴-𝘛𝘰𝘬𝘦𝘯 𝘸𝘪𝘳𝘥 𝘦𝘴 𝘪𝘯 𝘢𝘣𝘴𝘦𝘩𝘣𝘢𝘳𝘦𝘳 𝘡𝘦𝘪𝘵 𝘯𝘪𝘤𝘩𝘵 𝘨𝘦𝘣𝘦𝘯.

Regarding the 𝐕𝐞𝐫𝐬𝐢𝐜𝐡𝐞𝐫𝐮𝐧𝐠𝐬𝐬𝐜𝐡𝐮𝐭𝐳𝐞𝐬 I would also find it interesting what exactly is covered. "Fire, water damage, lightning, explosion, burglary and robbery" are in the master policy. Not all water damage is the same. Storm surge, flood, extinguishing water or burst pipe are not the same and are accordingly treated differently by insurers. The same applies to fires or damage caused intentionally, such as arson or vandalism. This may sound quite theoretical, but since timeless had planned a pop-up store, with exhibits, for Q4 2021, which was cancelled due to Corona, I think the questions are justified.

I also find it exciting that the framework agreement includes a 𝐖𝐢𝐝𝐞𝐫𝐫𝐮𝐟𝐬𝐫𝐞𝐜𝐡𝐭. Apparently, you can return purchased shares for 14 days. That's something you'd have to try out.

In general, I would continue to adhere to the points of criticism in the original article. The solgan "𝘪𝘯𝘷𝘦𝘴𝘵 𝘪𝘯 𝘵𝘩𝘪𝘯𝘨𝘴 𝘺𝘰𝘶 𝘭𝘰𝘷𝘦" shows a fundamental problem with the platform. 𝐆𝐮𝐭𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 𝐬𝐨𝐥𝐥𝐭𝐞𝐧 𝐞𝐦𝐨𝐭𝐢𝐨𝐧𝐬𝐟𝐫𝐞𝐢 𝐬𝐞𝐢𝐧 and not controlled by them. Similarly, 𝐚𝐤𝐭𝐮𝐞𝐥𝐥 is the 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 absolute 𝐧𝐢𝐜𝐡𝐭 𝐧ö𝐭𝐢𝐠.

I have created an account and will take a closer look at the app in January and possibly use it myself. Then follows perhaps a part 3. I myself would not recommend the app after my current state. Currently, I also see no particular danger in it, unless you put more money in it than you can afford to lose ...

If Timeless is not enough, there are also competing platforms, such as konvi, masterworks, onlyalt or 360x (not yet launched).

[1] https://financefwd.com/de/timeless-nft-runde/

[2] https://documents.timeless.investments/assets/40fb0130-2846-4deb-baf9-7975eda97fc9/documents/0bc8a92e-8e68-4ae5-a2e4-96ed6c641481-16316.pdf

[3] https://documents.timeless.investments/assets/dad4403a-3abf-497c-9c4a-d8f1537d8e91/documents/270989aa-6e06-4b66-ace7-b94b374aff38-16279.pdf

[4] https://financefwd.com/de/podcast-karnath/