So the economy sucks. I think most of the hundreds of posts on this blog can attest to that. But if there's one thing that might make you feel better, it's that falling prices have made luxury goods much more accessible to consumers, whether you have 30 dollars or 30 million dollars to spare.
This article describes how yacht makers are knocking off $18 million on their $48 million mega yachts, making the boats 'only' $30 million. Luxury home prices are falling rapidly, especially in Hollywood. Rare and fine wines are going for $300,000 less. And if you want a plane to go with your $1.56 per gallon gas prices, you could buy a commercial jet for $3 billion.
This article was written by an author who took advantage of a high lobster supply in Maine due to falling demand. Lobster, usually considered a splurge for a meal (excluding Red Lobster), has fallen in price -- but it won't last long because eventually supply will adjust when lobster fishermen reduce their catch.
And while I don't have any articles to back it, the recession is affecting the fashion industry as well. Finally these stores cannot justify most of their huge markups, and are lowering prices/having bigger sales that you will probably not see for awhile. Just go to saksfifthavenue.com to take advantage of $600, $1000 reductions on good, current-season designer stuff (and not old crap).
If you ever wanted to live the high life, I guess now's the time.
1 comment:
This is interesting, I've posted a blog a while back about how sales luxury items have stayed strong and will continue to do so. Now seeing this article makes me wonder whether the numbers of sale might have increased but they decreased the revenue of each sale. Seems like their lowing prices to attract more sales.
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