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I absolutely disagree. There is no doubt that the first watch in a production series has greater incremental value than the other 999. This is simple economics. If there is a greater demand for #1/1000 than than for the other 999 units (I.e., there is somebody who thinks that is really cool and it differentiators it and thus they are willing to pay more), than it is incrementally more valuable. The question is whether you can quantify that incena value and whether that is a reason in and of itself to buy that particular PAM. I would estimate that the incremental value is app 5% for this particular PAM. The more years they produce the 138@, the lower the incremental value as there are now more than one of them.
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