Investors who are nervous about the stock market are buying tangible assets.
It’s hard to look beyond the dream of owning a residential island, but buying any vacant property can result in big bills.
You wouldn’t want to put this baseball card in your bicycle spokes: A 1909 card of Pittsburgh Pirates shortstop Honus Wagner, whose nickname was “The Flying Dutchman,” will probably sell at auction for between $1.2 million and $1.5 million. The card is owned by a Texas businessman who wishes to remain anonymous.
In his 21-year career with the Pirates, Wagner hit a career batting average of .327 and was known as one of the greatest players of the time. If you’re thinking anyone would be crazy to buy a baseball card for $1 million plus, it’s actually less than half the price of another Wagner baseball card.
Looking to trade up to a mansion with all the extras? Now’s the time to buy for a song. During the housing boom, average square footage for homes continued to trend upward according to the National Association of Home Builders, from 983 square feet for an average home in 1950 to 2,434 square feet in
The numbers just keep going up. Seems every time we look, there’s a new spending record being set by the wealthy. This week, Pablo Picasso’s 1932 portrait of his mistress, “Nude, Green leaves and Bust,” fetched $106.5 million at a Christie’s auction in New York. It was — needless to say — the highest amount ever paid for a work of art at auction.
Only three months ago, a buyer spent $104.3 million for an Alberto Giacometti sculpture, “Walking Man I.” Picasso’s art came near that price in 2004, when he set a pre-recession record of $104.1 million for “Boy with a Pipeshe.” …
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