EnjoytheMusic, if that is your real name, what percentage of people on this planet would have knowledge, experience, judgement, patience, GUTS and MONEY to buy these items and consistently get a reasonable rate of return, be able to withstand wild economy swings we endure periodically and be confident that he/she has low risk?

Sir, I rest my case! Us microbes have spoken, right Weary?

 

LOL MerryMicrobe. It is fun to watch how things ebb and flow over time.


Love it when there is 'blood in the streets' like in 2007/2008 as that is the time to buy, NOT NOW when everyone has an abundance of funds to waste.


(Humor) Maybe we all should have listened to Jim Cramer and stayed in Bear Stearns just a few days before...


ADDED: As for expertise, there are many people out there far wiser with more knowledge than I. It is expertise and knowing the right people (at the right time). If you're REALLY smart you'd be an algo programmer for HFT, or some sub-set of that. There are MANY ways to skin the proverbial cat, yet do agree that the intrinsic value of items can vary depending on market, societal, etc fluctuations. It is having the ***** to go against mainstream sentiment that has made many men over the course of history quite wealthy.

 

[QUOTE=enjoythemusic;4138542]Well, ok, in a general sense i agree with you guys. BUT.... that depends on PRECISELY what you buy. Picasso, Dali (full painting, not the smaller items), Stradivarius violins, pristine early Gibson guitars, vintage highly complicated Patek Philippe timepieces....


So you gentlemen are correct UNLESS you choose well. BTW, Sir Evelyn de Rothschild said for safety you should hold on to your gold bars.


Rare coins? Hmm, if I ever dump my PCGS MS70s I know who to contact. Does investing $1300 each for quite a few MS70 First Strike UHR Double Eagle 1oz sound ok to you? END QUOTE



Unfortunately I don't do any bullion because it is so capital sensitive. Being 20 years old in a startup company, I don't have the leisure of making that 1-3%.

The more "common" rare coins ("stuff") tends to acutely follow the market conditions. To dealers, it's just stuff that we're trying to flip for 10/15%. When the market gets weak, people have to hold on to that "stuff" for longer and they want to pay less money so they can increase their turnaround time. This in effect brings down all the prices due to information sharing on the internet. However, what I do is very risky and requires a lot of skill. I buy rare coins and upgrade them for the profit. In plain english, basically all coins' values are subjective to the condition. The condition is annotated by a numerical grade. So I have a 1909/8 $20 Gold Saint Gaudens in 65. The coin is worth 35k as a 65, but I think it is a 66. A 66 is worth 100k. Others also think it is a 66 but what we're willing to pay differs. I had to pay 67k for the coin. Very risky, but I trust that my statistics will place the odds in my favor.
These types of coins retain their value extremely well and have been known to historically appreciate. As long as there are collectors and investors stimulating the market for these super rare gems, they will always hold their value.

 

Jim Cramer is an entertainer. Bear Stearns is just one of his many screw ups but probably his most dramatic. He is, without doubt, the all time pro at being able to talk about something he may know little or nothing about, at a level of confidence that defies the imagination.

My question about so called analysts, if they know a sure fire way to call the market - why would they need to tell anyone else in order to make money?

 

.....

 

100% agree. This is true for a variety of items, not just coins of course. Obviously you have a great talented eye and thus can judge ungraded gems, or perhaps old slabs and get them graded again.

 

Algo was a bit before my time although I have some familiarity with its successor Algol. I have been essentially a programmer since 1967 starting with Fortran, had a brief encounter with an octal language among other programming languages, but over the years drifted toward higher level programming languages.

I don't know if programming makes you any smarter, but it does indeed make you think you're smarter.

 

LOL! As long as your programs do not compile only by odd luck

 

Hi OP,

I've made a longer reply but the forum's login system destroyed it...

Here is the short version:


1. 07-09 Boxster $30-35
2. 05 997 911 $43-48
3. 06-07 Vantage $55-70
4. 04-06 CGT $55-70
5. 08 R8 $80-85
6. 04 Gallardo $80-85

If I were you, I will wait for 1 to 1.5 year and get the 04 Gallardo in cash or finance it knowing you have cash in the bank to bail it out.

I love my CGT but my true love was an 06-07 Itcha Verde Gallardo Spyder. I got impatient in my search and bought the CGT. 2 days after my CGT purchase, a perfect Gallardo popped up in the marketplace...

Now I'm in the market for a 09-10 LP560 Spyder but my CGT purchase has delayed this for a year. From time to time, I'm tempted to pick up a R8 coupe but I know better now especially when I look at all those convertibles with envy.

Plus, waiting and dreaming is usually better than the reality of getting it.





At 22, you will be a "god" for owning this car:




Be patient, my friend.