Quote:
Originally Posted by Phoneboy
This thread is interesting to me.
A few random thoughts without quoting and replying...
The Jordan rookie hit $738k for exactly one weekend.
I agree with Premium's thoughts on improving your situation, but it takes a certain amount of intelligence, work ethic, and luck....at least it did for me. In 1995, I was 26 years old, working at a video store making $5.75/hour, and living with my parents. I convinced a guy to take a chance on me. If not for him, I wouldn't be where I am now.
Pewe's narrative about the lawyer is spot on. While he might sell, he doesn't have to sell to affect prices. If you have enough people deploying cash elsewhere, you see a drop in prices. Does he totally quit buying? Does he quit buying modern and stick with vintage? Personally, I've stopped buying anything. The cash that I have is going into the stock market. I'm not a lawyer or an investment banker, but I dumped a ton of money into cards over the past 3 years.
On the Rolex market, I have friends who play in this space. They have connections with jewelers, and are flipping Rolex watches as a side hustle. It's crazy to see these prices. $200,000 for a platinum Daytona?
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That's a given. Prices have already dropped from the peak of the bubble. But if there's a sell-off, prices will tank.
And what would trigger a sell-off? Financial necessity and the expectation of continued lower prices.