Originally Posted by
NitroZ7
I have to generate income so gold won't work for my purposes. That being said, I work with someone who is very involved with certain auction houses for expensive pieces of art, jewlry, etc. and she said that over the past year these types of assets are increasingly being bought up and bid up by wealthy international buyers, mostly the Chinese. It looks like a lot of wealthy individuals abroad are buying these as a store of value since these are unique. It used to be that Real Estate was another asset that worked but we recently had an auction on a house on Hillsboro Mile that was under construction for about 8 years. They had it listed for 120 million and it went to auction for no reserve and sold for about $43 million. There is apparently a glut of these ultra luxury mansions around the country so these do not seem to be viewed as a store of value.