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flyer
ParticipantFantastic. Very familiar with that line. Doubt if our relatives would have ever imagined some of these collections from the past would be yielding seven figures today. Life is interesting.
ParticipantAgree. Never sell anything of sentimental value, the memories are definitely worth more. We have so many things from our families that we love, and would never part with. A pianist made an offer most would not refuse for a one-of-a-kind Steinway, but we passed. I’ll be surprised if my wife does sell any of the art collection, since there’s no need to, but one other collector seems determined to acquire one painting in particular–so that will be entirely up to her–otherwise, just more for the kids to look forward to:)
ParticipantVery interesting, gzz, and a good example of how obsessed some collectors are. I know my wife has been amazed at the offers she has received from private collectors, even without taking anything to auction. As in the article, it seems like multiple seven figures are becoming the norm.
Hopefully, with all of the millions floating around in our society, some of it will also be used to solve the more dire needs that threaten humanity’s very existence, such as the water issue discussed in another thread. In fact, my wife is considering selling some of her collection to facilitate the greater good.
ParticipantThankfully, I think most of us here love where we have chosen to live in San Diego. Although we have family everywhere in the County and elsewhere, absolutely no other location interests us, other than where we are, as far as our primary goes. Hopefully, that’s true for everyone–so there doesn’t really seem to be a need to argue about those choices–everyone should just enjoy their chosen place in the sun!
Participant[quote=gzz]Flyer, congratulations on the art. Even if you don’t ever intend to sell, it still feels like winning a game when they appreciate.
There are some art submarkets that are weak. Antique furniture is in a deep and long depression, many items down 90% from the peak.
Older European paintings, from before about 1800, also are not doing too well, outside of the very top of that market, e.g. Da Vinci’s Jesus painting. (IMO it is genuine)
I enjoy coin collecting but worry sometimes that the old white guy demographic is going to evaporate and not be replaced by new collectors. That has already happened with stamps and baseball cards to a large extent. They aren’t dead but far less popular than in the past.
To both keep my collecting focused and protect it from price declines, I generally won’t pay more than 100% over melt value for silver coins and 25% over for gold, and don’t buy non-precious metal coins at all. Indeed the boundary between coin collecting and precious metal investment is a little blurred, since some of my favorite items were acquired at roughly melt value, like a whole roll of very cool William Tell silver 5 swiss francs.[/quote]
Thanks, gzz. It’s true that all collecting has pros and cons, and glad you’ve found the niches that work best for you.
My wife inherited most of the art collection, which has a fascinating multi-generational history with a story line that could become a novel. Her personal experience of discovering an Impressionist piece at a thrift shop in Paris when she was attending college there is a gem. All the best to you with your collections.
ParticipantExactly, Svelte. Nothing wrong with GoFundMe for those in need, and my heart definitely goes out to all of those people who lost their homes–it could happen to any of us in CA. We do have family up there who are OK, but, it’s amazing how some who appear to be in a positive financial position either feel entitled, or, more likely, in reality, did not prepare for the unexpected in life.
We had a neighbor who was living large in RSF, and then, unexpectedly, passed away quickly from colon cancer at 58. GoFundMe was set up the next day. Couldn’t believe it.
ParticipantReally hope the baby formula issue is solved soon. Our daughter’s baby is due soon, but, like gzz, they have it covered, but for those who need it, the situation is heartbreaking. It does seem like most everything in life, from necessities to luxuries, is in high demand.
We recently had my wife’s art collection appraised again, and it’s off the charts, especially if it were auctioned. There are many collectors who are obsessed with owning certain pieces, and are willing to pay almost anything to acquire them.
Kind of sad we live in a world of such extraordinary extremes.
ParticipantSo true, Scaredy, and many more meaningful things in life are free. Money just helps us provide food, shelter, and an enjoyable life for ourselves and our families while we’re here. There will come a day, for all of us, when we won’t need anything material at all.
ParticipantExactly. That’s why it’s amazing that more blind squirrel’s uh, excuse me, people, didn’t max out these easy opportunities when they were available.
ParticipantInteresting resurrection of ghosts of real estate past, and fantastic confirmation that all of the wealth we have all acquired over these past years via real estate, and in so many other ways, were definitely once in a lifetime decisions. Gotta love it!
ParticipantEP, so glad to hear you’re doing well. Although there do seem to be more and more people who can’t make it CA, we know a number of people, like you, who have chosen to leave CA, and not because they couldn’t make it here.
Many feel they have maxed out their California experience over a period of many years, and just want a change, or have other reasons. Most are in a position where they can come back anytime, so leaving temporarily, or otherwise, is not really an issue.
Personally, we love everything about our lives in CA, and, after seeing what most of the world has to offer, really don’t feel the need to make a change, but still respect the need or desire others may have to do so.
ParticipantHave quite a few pilot friends here, most of us retired captains, some with military backgrounds, others, like me, who clocked their hours during college, but that doesn’t ring a bell, sdr. I encouraged quite a few of them to move here from elsewhere before COVID, and they are glad they did before the buying frenzy and price escalations hit.
It will be interesting to see how commercial aviation evolves from this point on. Glad I had the chance to fly the Dreamliner, and United is planning to launch their supersonic passenger flights by 2029. Even with all of the issues surrounding the Concorde, we really enjoyed the flights we took back in the day, so hope it goes better this time around.
Participant[quote=Coronita]Early Retirement.
That’s what’s on my mind regularly for someone that’s been working since the dot.com days.
2 more years and off to college my kid goes. 529k and custodial accounts ready all the way to grad school if necessary….I paid my dues by planning early and letting compounding over 16 years work.
The question that I keep coming back to is…What next? I don’t have an answer for this. I don’t really like to travel.[/quote]
Talk to lots of people who are asking these same questions about what’s next in life, so you are not alone.
Until COVID, I was semi-retired, and continued to fly international for American once a month, which I had been able to do for many years prior, due to seniority, before wrapping up that career. Didn’t want to deal with the hassles surrounding all of the COVID issues. Lots of airline pilots retired early for the same reason.
To keep life interesting, we’ve always known we never wanted to fully retire, so we’ve kept other businesses running concurrently–real estate, leasing aircraft to many different companies, including flight schools, my wife’s entertainment/movie business, etc.–and we still have time to spend with family, travel, and anything else we might want to do.
That said, I think it’s just a matter of finding things you enjoy, and possibly turning them into business or charitable endeavors. I’m sure you will find you have many options.
ParticipantAs a landlord of sfh’s and other rental properties, have to agree with both of the above.
I’m sure you realize you are living in one of the most competitive property markets in the country, so it’s going to be very difficult for you to negotiate, when there is so much competition for housing.
You are not alone in your concerns, as I hear people who have lived here for years, complaining about how their kids can’t afford to rent or buy a home here, or in many other desirable places in CA anymore, but, again, that’s the market, so it’s a kind of take it or leave it situation.
I wish you the best, and hope you find a solution that works for you.
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