“Prices for highly prized art, wine, vintage cars, jewels watches and other collectibles are soaring past their 2007 highs.”
I’d equate that to ME stockpiling rice, beans and ammo.
We both know the end is near, we just find different things to be of ‘value’ in our immediate lives. :)
I believe in a diversified portfolio. Ammo, food, water, medical supplies, tools, pint bottles of whiskey and vodka and of course the old standby - gold and silver.
“Prices for highly prized art, wine, vintage cars, jewels watches and other collectibles are soaring past their 2007 highs.”
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I have collected antique glass & crystal perfume bottles/presentations by famous artists/design houses (Lalique, Viard, Baccarat, etc) for 40 years. I keep tabs on the current auction results. Prices realized are barely at 1/3-1/2 of 1998 book values. Sales results plummeted from their highs in 2008 and while they have rebounded in the past 18 months, they are still depressed.
OTOH, having finished the 2013 books, we were astonished to find sales were up 15% Y/Y. Costs, however, were up 30%.
I believe these folks are stockpiling the equivalent of PMs. These collectibles, they hope, will be priceless after the riots and destruction they foresee. This is their store of value. They will use their PMs to survive the harder times. The cars, wines, paintings, et al are all stashed in their country homes, aka: BOL. They will trade them among themselves, or leave them to their children and grandchildren. It’s a way to keep assets from the government.
I doubt any of them would even think of stockpiling rice, except Arborio for their risotto. Ammo? Gaia forbid!!!!
It has been good to see you back, Diana.
art = kids first coloring efforts in scrapbook
wine = Ripple, Boones Farm (Strawberry Hill and Melon Ball)
vintage cars = 69 Corvette Stingray in matchbox car
jewels watches = Timex (I used to wear two Timexs until I found I had too much time on my hands)
The rich don't have anything on me.
What’s a 2013 dollar wort compared to a 2007 dollar?