Price for used Ferraris, Porsches, Penthouses etc

What makes you think the rich are doing bad? The middle class are the ones getting crushed, the rich are doing fine. Maybe better than ever if their smart. Deflation is good for rich ppl, since their money is worth more.
 
Ultra-Rich Clutch $191,000 Bags for Comfort as Wealth Shrinks



Dec. 5 (Bloomberg) -- The black crocodile Birkin handbag displayed at Hermes SA’s Milan boutique in October was one of a kind, with a diamond-studded clasp and a 150,000-euro ($191,000) price tag. It had already been sold.

http://www.bloomberg.com/apps/news?pid=20601093&sid=adh_ahXmy0xE&refer=home

Lavish parties and extravagant events are in vogue as the economic slowdown causes marketers to focus on their high-net-worth customers.

http://www.latimes.com/business/printedition/la-fi-luxuryads4-2008dec04,0,4550956.story
 
Quote from Banjo:

Ultra-Rich Clutch $191,000 Bags for Comfort as Wealth Shrinks



Dec. 5 (Bloomberg) -- The black crocodile Birkin handbag displayed at Hermes SA’s Milan boutique in October was one of a kind, with a diamond-studded clasp and a 150,000-euro ($191,000) price tag. It had already been sold.

http://www.bloomberg.com/apps/news?pid=20601093&sid=adh_ahXmy0xE&refer=home

Lavish parties and extravagant events are in vogue as the economic slowdown causes marketers to focus on their high-net-worth customers.

http://www.latimes.com/business/printedition/la-fi-luxuryads4-2008dec04,0,4550956.story
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It's always a bull market on the high end.

There is a waiting list for 400k watches. Not everyone is dependent on the "economy".

http://www.hodinkee.com/blog/2008/8/19/the-maitre-du-temps-chapter-one-haute-mechanical-art.html


you should see the OUTRAGEOUS window displays in the Fifth Ave shops--- truly a reflection of the gilded age.


Someone is benefitting in a HUGE way here, more than a few actually, but most will only find out after the fact.




surf
 
Ultra rich never do bad. They have access to information no one else has.

They can short/long with 100% confidence knowing all the insider information they need.
 
I bought a Honda Odyssey 3 weeks ago and my sons love it more than my ferrari(imaginary).....lol. On a car you couldn't get a $1000 discount 3 years ago, I nearly knocked off 10K off the MSRP........too bad Honda and Toyota can't ask for a bailout lol
 
Quote from 377OHMS:

Ferraris? Phtt!

This is what I'm seeing around LA, usually the orange ones.

f9c0-Lamborghini_Gallardo_LP560-4_rear.jpg


Poor people drive Porsches here. I drive a 20 year old Carrera and a 38 year old 914-6. That almost qualifies me for welfare in California. :D
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A quick google revealed that a 1 year old Lambo Gallardo in the UK can be leased for two years for 1000 GBP per month, with a 7K deposit up front.

No idea what the maintenace and insurance costs are. But the lease payments are easily affordable for anyone with a half decent job.
 
Quote from kxvid:

What makes you think the rich are doing bad? The middle class are the ones getting crushed, the rich are doing fine. Maybe better than ever if their smart. Deflation is good for rich ppl, since their money is worth more.
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Not true, real estate and share prices have got crushed too or did you not notice?

Some poor guy who was worth a cool a billion or two a couple of years ago now has to suffer the humiliation of being a bog standard (centi) millionaire :p
 
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