In a painful year for stocks, bonds; gold, investments in fine art and wine won out

[dealmaker]

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https://twitter.com/x/status/1079751964135706624

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[zdreg]

art up 10%. Sotheby's stock down20%. I doubt art up 10%.

 

[dealmaker]

art up 10%. Sotheby's stock down20%. I doubt art up 10%.

I am guessing Sotheby's is down because of interest rates i.e. like Boeing they finance their customers thus higher interest rates less profits...

 

[LanceJ]

I always assumed they just passed the higher interest rates to the customer. When finance companies pay more for money, they take the difference out of the bottom line to protect the customer? Seems unsustainable.

 

[dealmaker]

I always assumed they just passed the higher interest rates to the customer. When finance companies pay more for money, they take the difference out of the bottom line to protect the customer? Seems unsustainable.

They have been around since 1744. Sotheby's offers a grace period similar to what OEMs do with their dealers eg auto, motorcycle, agricultural machinery etc., it's a common enough practice.

 

[maxinger]

To profit from such markets,
best is to do spreading;

Long the Art or fine wine, and short the stoxx 600.

 

[murray t turtle]

art up 10%. Sotheby's stock down20%. I doubt art up 10%.

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Art up 10%-that must be asking price.LOL
Wonder what the appraised price /bid price is LOL??

 

[zdreg]

%%
Art up 10%-that must be asking price.LOL
Wonder what the appraised price /bid price is LOL??

exactly. the spread probably widen.

 

[murray t turtle]

exactly. the spread probably widen.

%%
LOL. By the way, i sold some real estate+ the REALTOR asked ''the buyer wants to know ,if you will accept his cousin doing a certified appraisal??'' LOL-LOL .I said NO; his cousin is not our bank's certified appraiser'' LOL-true.

 

[dealmaker]

%%
Art up 10%-that must be asking price.LOL
Wonder what the appraised price /bid price is LOL??

Art price stats are compiled from auction sales from not from asking prices.