The Skydash Collection ... the aftermath

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Posted By: PC

I'm not surprised at the prices. Most people who can afford these rarities are probably very, very concerned about the economy next year (primarily because they know more then we do about the issues on the horizon), and are not going to pay a premium for any collectible that has a significant risk of declining in value.

I think we're going to see some things in this down cycle that we haven't seen before. Banks already have reserve issues because of write-downs, and we're beginning to see a domino effect in the capital markets, as money is neither plentiful nor cheap. This has already limited the ability for troubled companies to refinance their debt, which will lead to bankruptcy proceedings, which will wipe-out the high yield unsecured debt issued by those companies that is held by every financial instutition in the country. Which leads to more write-downs. The problem is already here in certain industries (homebuilders). You do not need a crystal ball to see it.

And the problems go way beyond housing sector and housing market.


But what do I know, I just collect beat tobacco and gum cards. Maybe there just aren't enough Tin Top collectors out there.