ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
23 September 2020, 08:14 AM | #1 |
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In Time Of Pandemic, Auction Houses Cash In Big On Watches
"The world may be in a state of Covid-19 chaos, with growing unemployment, a spiraling death rate, and no vaccine on the immediate horizon, but someone just paid $3.6 million for a pre-owned wristwatch, $9.2 million for a fancy blue diamond ring, $84.6 million for a painting, and $795,000 for a rare bottle of whiskey.
And $615,000 for a pair of used Nike sneakers worn by Michael Jordan in 1984..." https://www.fa-mag.com/news/in-time-...tml?section=75
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23 September 2020, 08:21 AM | #2 |
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Prices were down for only a month and then started ticking back up, they are now more than they were before the pandemic.
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23 September 2020, 09:57 AM | #3 |
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If you’re rich, you’re rich. I wonder what they’d have paid if the pandemic, etc. were not happening...
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26 September 2020, 02:53 AM | #4 |
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There are more ultra wealthy watch collectors than there are ultra expensive collectible watches. And most likely always will be.
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26 September 2020, 09:11 PM | #5 |
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Ok, interest rates are Zero, the equity markets are at or near all time highs, the U.S. Government, alone, has printed and distributed over $3.5 trillion, most of which went to already well heeled friends of the administration. What is a super rich individual supposed to do in times like this, sit around and feel sorry for poor folks?
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26 September 2020, 09:28 PM | #6 | |
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Quote:
In other words, cash is trash (and will remain so for a long, long time) as central banks around the world attempt to keep the illusion of a financial bubble inflated. When this finally pops, as all bubbles do.... Or pull a 1933 and choose to 'revalue' currency, this time into a digital form as the Fed is proposing, yet in the end currencies are an illusion of 'value'. Which brings us back to central bank 'cash' is trash (in any form) as smart investors scramble and compete for items of intrinsic value.
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26 September 2020, 10:27 PM | #7 |
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27 September 2020, 07:31 PM | #8 | |
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Real Name: Daniel
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Quote:
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27 September 2020, 07:40 PM | #9 |
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That’s probably the money they saved on travelling so spent it on something else
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27 September 2020, 08:32 PM | #10 |
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True. And people forget that Money is a transactional medium and is meant to be used to purchase things. Once you have enough in reserve to assure you of a certain life style, the rest of your money can be spent on whimsy. When the government urges you to spend, by bringing interest rates to zero, or lower, and promises you that your money will be worth less in the future, why wouldn't you buy a nice watch for $4M, which is guaranteed to impress your friends, thereby bringing you great joy.
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