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A Man of Wealth and Taste
 
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Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
Spoons right now are worrisome...if the economy goes south and people are worried about paying the rent and putting food on the table..I don't care what it is it will be sold for pennies on the dollar. That is what happened in the great Depression.

On the other hand the government is doing everything it can to start the music once again and reinflate the economy. To that end they have turned on the printing press full blast..which eventually will water down the currency. Then every hard asset including RE will go through the roof in value, making any loans against it look cheap.

Take your choich as to which way it will go?

My solution is to hedge and sell a bit here and a bit there to raise cash.

On 11/22 I had 18 items at auction. Twelve sold...netting me 25% under LOW estimate..I am still profitable by nearly 18% on those items, however some of the items I have had for a long long time. So I would say that my items were overall weak. That is not to say that some items just blazed away reaching unheard of prices...A Winchester 94 circa 1900 with factory install scope in near new condition for $48,000.00. Or an EMPTY UMC 44 Colt CARDBOARD Ammunition box for $4200.00...yes $4200.00. Should have bought cardboard and not the fking spoons. The remaining 6 items will be reauctioned in January...
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Old 12-03-2008, 12:09 PM
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