It's addictive, but a couple questions always get me thinking.
First, you always hear someone crow about what a good investment something was when they hear their $40 painting from 1825 is now worth $5,000. One of these days I'll have to write down some of the numbers and see what the actual rate of return they get.
Secondly, and more interestingly: The experts almost always give a very wide price range. Appraisals like $8,000 to $12,000 are almost standard, and ranges like $2,500 to $5,000 are common as well. Does the market fluctuate that much, or is there that much uncertainty in the value that even experts can't give precise estimates?
Monday, April 4, 2011
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