Posted By:
Richard MassonNet income has steadily declined over the last five years and now the company is for sale (Shorin agreed to not pass a poison pill).
Stamps sell at a fraction of the values they commanded two decades ago.
Modern art has been run up largely due to the efforts of one knucklehead hedge fund guy (the rotting shark in a fish tank for $25 million?).
Price is determined at the margin: the one card for sale, the one or two top bidders. What leads to excess is when the buyers get the impression that there will always be that cover bid. When that disappears is when every marginal holder decides to sell and prices decline. Will the current buyers at the high end ever need the money? If not, stated prices may decline, but little product will change hands.