Monday, February 24, 2014
Follow the Money
Hard Assets all have their constituency.
New NY Money loves emerging Artists. Hedge Fund Honchos buy suits for $50,000 from Enzo Dorsi and doodles for $400,000 in Chelsea because they can.
Old NY Money buy their suits at Brooks Brothers and Old Masters, including Impressionists and abstract Impressionists. like Hans Hoffman for $250,000.
Down in PA they dig race horses that average at about $130,000
In CA they'll buy exotic animals for private zoos like this cat for $60,000
And of course this electric car for $100,000
In Abu Dabi its all about the mansion... this one will set you back about 50 million dollars.
And in Europe vineyards can be picked up for a little as $20,000 in Bordeaux!
In Russia, they just love Siberian Sable This one will set you back $100,000
And in China, my God they'll pay $600,000 for a bottle of brandy
But, interesting to note, that in all these places there are wealthy collectors who are wild about the one thing for which all modern cultures share an equal fascination:
Greco-Roman Antiquity: ..
The Russians prefer Rome. The Chinese prefer Greece. In Abud Dhabi they're creating a new museum for Greek Coins. The French love Greece and Rome. While the Italians, well you can guess. But everyone with any education is fascinated by Greco-Roman culture.