Oh...and what else did I want to mention.
National Jeweler has posted an article stating that consumer confidence is increasing.
I'd have to agree with that statement given the prices on what I see being sold at auction.
Take these earrings, for example.
This pair is being sold on Beladora.com for $8750.
A pair of the same VCA Lion Doorknocker earrings
except with diamond eyes instead of emerald eyes
sold two weeks ago Christies New York sale for $18,750.
Obviously, there must be a lot of consumer confidence out there if estate jewelry buyers are willing to pay $10,000 (114%) more at Christie's auction for basically the same earrings.
( you know what I'm thinking don't you....ARBITRAGE!)
Also, at the same Christie's auction a gold and diamond evening bag, unsigned, sold for $20,000 while the Boucheron gold and diamond evening bag on Beladora was priced at $19,750. Did I mention that the Beladora bag was Boucheron....and yes, it sold (with a discount) right after the auction.
At any rate, I don't know who was bidding at Christie's but it wouldn't surprise me if some very wealthy Chinese were doing the buying. After some 80 years of pent up demand, everyone is expecting the Chinese to dominate high end luxury goods purchases, like the Russians did a few years ago, and the Middle Eastern Royals before that.
There are new fancy-schmancy stores being built now on Rodeo Drive, (Tom Ford, Stephen Webster, Badgley Mischka, etc...) that will open for the holidays, so high end businesses are investing in new stores. Obviously these Luxe businesses are confident.
BTW, Gold Sets A Record Price ...again
Investors looking for safer places to stow their assets pushed gold to a record price above $1,400 an ounce Monday as they become more worried about the global economy.
A combination of issues have created fresh worry among investors: Ireland's debt difficulties and two key global summits where leaders of major industrial and developing nations are discussing currencies, free trade and ways to help the world economy.
Also in the back of investors' minds is the prospect of inflation stemming the Federal Reserve's multi-billion bond-buying program.
I'm wondering, do you think that consumer confidence is increasing?
BTW, Gold Sets A Record Price ...again
Investors looking for safer places to stow their assets pushed gold to a record price above $1,400 an ounce Monday as they become more worried about the global economy.
A combination of issues have created fresh worry among investors: Ireland's debt difficulties and two key global summits where leaders of major industrial and developing nations are discussing currencies, free trade and ways to help the world economy.
Also in the back of investors' minds is the prospect of inflation stemming the Federal Reserve's multi-billion bond-buying program.
I'm wondering, do you think that consumer confidence is increasing?
