is the bubble due to burst?

How about $32 per ounce?

 

Resetting it to worthless will be good how? If the goal is to devalue everyone's money and screw up the global economy (both domestic and international holders) then yes that's a way to succeed. The results won't be pretty. There's also nothing special about gold...it's just an arbitrary physical item selected for that. It could be rhodium for all it matters.

 

considering current values of currency without a tangible backing or tying currency to volatile asset like petroleum is proving to be not the best choice. the US has reset its currency every 20-30 years with little notice. Hugh debt needs viable scale to reconcile monetary systems. Why use a dropper when multiple high capacity pumps are needed to reduce the debt. Gold is not the exclusive store of value, but a reasonable constant in conjunction with anything that might be a store 0f value

 

It's not going to happen, but if you wanted to price government's holdings of gold to the US dollars floating around it would have to be over $50,000 per ounce. M2 money stock alone is over $14 trillion and the US govt has under 300 million ounces of gold.

https://www.fiscal.treasury.gov/reports-statements/gold-report/current.html
https://fred.stlouisfed.org/series/M2

 

Do I hear $35?

 

Found it hard to believe when gold went from $30/oz to whatever it was. Find it extra hard to believe its value should be $10000 /oz

 

Not vintage. But prices are down.
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Plenty of La Ferraris on the market now, how many do you need?

Marcel Massini

 

And all unfortunately seem to have less than 1,000 miles. Sad...it looks so much fun to drive.

 

If I were holding one in inventory I’d be getting nervous!

Matt

 

Everybody wants a virgin.

Marcel Massini

 

if the speedometer is as easy to disconnect as on the 288 GTO then I don´t wonder about those miles

 

The LaF market has always confused me. There's no way a market exists for 700 ish new cars worth $3 million+. The F12 TdF is the same way. I suppose that's what happens when a car is released at the height of the market. Plenty of speculators. Should comfortably settle in the $2 million to $2.5 million range.

 

selling for lower than their low estimates....that probably means the reset is just getting started. Interesting times.

 

I think we're most of the way there for 80% of the market but Ferrari's and air cooled Porsche's likely have another year or two to go. They wont crash or anything but a slow decline is likely. It seems like a healthy correction overall.

 

Correction or general market decline? Time will tell.

 

Prices aren't really down in my opinion (we are all allowed to have an opinion right???)

That LaFerrari did 3,080,000. Thats just shy of 3.4 million... FOR YELLOW. That is a considerable sum of money. I would put that in the well sold category. If I could get a buyer for 3.3 million I could sell probably 2 or 3 laFerraris today.

The TDF did no sell. So that means that the seller wouldn't sell it for for that. The top bid was 875 plus the fee so about 950k. A little light, but again the car did not sell. So we can determine that you can not buy a TDF for 875 from that buyer. Probably not even 900. The owner will not take it.

The lusso... Well... with the fee the car did exactly it estimated for. fuel injected Lussos are not a good indicator of anything in my opinion. It is an unvalued car. It is a phenominal car... probably one of the best cars ferrari makes... but the market doesn't care.

 

Estimates were high. Estimates have been high for sometime. Its a game

 

No.

Howard Hughes used his OWN money.

 

Anybody following RM Sotheby's auction @ Essen?

 

What has this world come to if a monster Porsche 928, aborted by Koenig, fetches far more than a 328 GTS ? (the latter sold for 52.000 € hammer price)

 

However, virginity is overrated!

 

https://rmsothebys.com/en/home/social-feed/ almost finished.

 

Reminds me of the old Dennis Miller line about the 72 Virgins in Paradise. After 5 or 6 you’re going to want a Pro!

 

Exactly... ;-)