Quote:
Originally Posted by pkincy
In the true luxury goods market we had an excellent data point last night. Sotheby’s auction at the Monterey Historics has been described as a “bloodbath.” They had more cars than last year but sold 30 fewer and at an avg sales price of $75,000 per car lower. Sales were down a full 25% year over year. This is one of the World’s top 4 or 5 annual collector car auctions.
So WalMart announced a great quarter this week but collector cars are off 25%?? Rolex is closer to Walmart than Sotheby’s in clientele but still I wouldn’t be paying over MSRP for a mass produced watch these days
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So people who are in positions to buy truly limited goods (exotic cars) are holding back... If that is the start of the events, then the market for mass produced luxury goods will start tanking soon.
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Collector and buyer of Lange, VC, Patek | 2 FA Enabled
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