Purchasing less due to poor stock market results 1 1

[KirbyCollector]

Euro below parity with the dollar, pound on the way and possibly worse. There is no doubt this will hurt the purchasing power of our European collecting brothers for a while

[tth2]

On 9/27/2022 at 10:11 PM, Bronty said:

there's an awful lot of american art in there for what's supposed to be an international art auction.    I suppose international includes American but I understood it to be Euro comic art in this context, primarily.   Anyways, a lot of the usual suspects.

I think it's primarily intended to be an auction for Europe-based consignors.  Maybe so they don't have to pay customs or something.

So there'll be European and American art, and not surprisingly more American art the more of these international auctions are held as that's where the primary action has been the past few years except maybe for Mobius art.  Sure there's also Tin Tin art, but the good stuff isn't coming to Heritage.

[tth2]

On 9/27/2022 at 11:56 PM, KirbyCollector said:

There is no doubt this will hurt the purchasing power of our European collecting brothers for a while

[Rick2you2]

On 9/27/2022 at 9:03 AM, vodou said:

What’s your target?

Some time after my heart operation next month. Preferably, well after your planned retirement in 2032. 

[vodou]

On 9/27/2022 at 12:43 PM, Rick2you2 said:

Some time after my heart operation next month. Preferably, well after your planned retirement in 2032. 

Good, I wish the well with your operation.

I’ve been retired since 2010.

2032 is cha-ching time!

 

[tth2]

On 9/27/2022 at 5:38 PM, jjonahjameson11 said:

On 9/27/2022 at 11:27 AM, tth2 said:

Less than 2 months to go until The Auction That Signaled The Start Of The Great Crash!  

We don’t have to wait two months… The HA International OA auction ends Oct 2nd.

since everyone is saying this will be a global recession, we can fully expect the OA price crash to be reflected in this action.  Right? 😉

It would appear that rumors of the impending Original Art Apocalypse have been greatly exaggerated.

[Rick2you2]

On 10/1/2022 at 11:53 PM, tth2 said:

It would appear that rumors of the impending Original Art Apocalypse have been greatly exaggerated.

I was only following one piece, and it looked like it went for almost 3 times what I expected.

[EXPhysiker]

This Enrico Marini Dark Prince page lost 33% of his value in 2 years. The consignor lost 54% (if he/she paid the 15% fee and the BP was 25% here) or $9150. 

But the auction 2 years ago was a Platinum Signature auction and this page was featured. This time it was „only“ the International Signature auction. Don’t know why Heritage ask for 25% BP for less work. For example the don’t put the pages at CAF for advertising. 

[Stefanomjr]

On 9/24/2022 at 6:56 AM, KirbyCollector said:

Just an update for those who either don't pay attention to their 401K or don't have one, but the market took another huge hit this past week (in normal times it would have dominated headlines, but it has been buried for some bizarre reason). The heavy debate inside financial circles I belong to is: Is the bull market dead (i.e., peaked in Jan this year)? If so, it may become grim for any assets other than bonds over the next two years. I'm not fully in that camp yet, but right now there are very few market technicals which indicate an immediate positive outcome is on hand.

Bloomberg has fair and balanced reporting. They've not buried a thing. We hit lows in June and then had the best July in.... 20 years? Now we are back to testing those June lows. We've got a Fed that's raising rates and shrinking the balance sheet. It's never had to do both. The glide path to a soft landing is narrow.

Inflation isn't an American thing... It's global. The Russian invasion of Ukraine and China's zero covid policy is mostly to blame.  Oil went from 130s to 80s, equity markets are choppy/volatile and down down down. 

 

Meanwhile, US economy is the best house in the worst neighborhood. USD is incredibly strong against the euro and Canadian dollar.

 

Americans are seeing their buying power dwindle. Europeans and Canadians are in the same boat PLUS their currency is weakest it's been against the dollar in over two decades.

I think that translates into less buyers bidding at auction and less interest in dealers and their inflated pricing.

 

[Stefanomjr]

On 9/27/2022 at 11:56 AM, KirbyCollector said:

Euro below parity with the dollar, pound on the way and possibly worse. There is no doubt this will hurt the purchasing power of our European collecting brothers for a while

Summers is creating a second career outta being Mr gloom and doom 

[Stefanomjr]

On 10/2/2022 at 1:19 PM, Stefanomjr said:

Bloomberg has fair and balanced reporting. They've not buried a thing. We hit lows in June and then had the best July in.... 20 years? Now we are back to testing those June lows. We've got a Fed that's raising rates and shrinking the balance sheet. It's never had to do both. The glide path to a soft landing is narrow.

Inflation isn't an American thing... It's global. The Russian invasion of Ukraine and China's zero covid policy is mostly to blame.  Oil went from 130s to 80s, equity markets are choppy/volatile and down down down. 

 

Meanwhile, US economy is the best house in the worst neighborhood. USD is incredibly strong against the euro and Canadian dollar.

 

Americans are seeing their buying power dwindle. Europeans and Canadians are in the same boat PLUS their currency is weakest it's been against the dollar in over two decades.

I think that translates into less buyers bidding at auction and less interest in dealers and their inflated pricing.

 

Counterpoint to everything I just said... Tokyo Ghost issue 4 page 2 just sold for $4500

[vodou]

Art is defensive. Eventually everyone else will see that too.

[tth2]

On 10/3/2022 at 1:19 AM, Stefanomjr said:

I think that translates into ... less interest in dealers and their inflated pricing.