Adam to me this statement couldn’t be more true.
Some parts of the card market are not tethered to the business cycle. I had an interesting conversation with a reporter who covers art (her son is way into cards and she was referred to me by a family member). She said that the art world no longer talks about cyclical investments in blue-chip art because the proliferation of extremely wealthy people across the world who are essentially insulated from economic cycles has led to a constant market. I suspect we are there with the really expensive cards. People who can drop $100K on a card aren't going to be hurt by inflation or a recession.
People spending six figures on big cards in the major auction houses
REA, Heritage, Mike High, Goldin, ect inflation doesn’t really bother them.
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