RUNNING OF THE BULLS
sold at an auction. A 1969 Fender Mustang Bass with a Competition Orange finish (which presumably means something to guitar geeks) (pictured) that was designed by company namesake Leo Fender is not worthless. But the $384,000 price it sold for feels almost as over the top as that toilet seat cover. And last month, a house in Palm Beach, Florida – built on a piece of land once owned by former President Donald Trump – sold for $132 million, making it the second-most-expensive single-family home in the U.S. (A photo of the above interior, posted by Forbes magazine, make it clear that money doesn’t buy taste... but it can get you
Dogecoin is a meme-inspired digital currency (though it really isn’t) that was called a “joke” by the guy who made it. It serves no real- world purpose but hit a market capitalization of upwards of $10 billion. It was up by as much as 15-fold this year. And things that are next-door neighbors to worthless – by any normal person, normal market kind of standards – are also selling for waaaay too much money. In September, a yellow Rolling Stones’ tongue logo toilet seat cover (pictured) sold for $1,152 at an auction of belongings of the band’s bassist, Bill Wyman.
plenty of tacky.) It all feels like a bubble... And that feels familiar.
As Spin magazine explained, “The purchase... made a splash in the history books, with the cover becoming the most expensive ever sold at an auction.” (If you’re ever having a lousy day, cheer yourself up with this: At least you’re not the guy who tracks the prices fetched for toilet seat covers at auctions.) The same auction also set a record for the highest-priced bass guitar ever Things that are next- door neighbors to worthless – by any normal person, normal market kind of standards – are also selling for waaaay too much money.
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March 2021
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