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Mehki Becton buys 400K necklace

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1 hour ago, Losmeister said:

1) someone said it..." I don't get it." me too.

2) His money.

3) Joe Burrow did it too. ( i dont teh valuation)

https://twitter.com/FLEESPORTS/status/1298655455577694208?s=20

4) It IS better than buying a new car.

 

I absolutely agree with all of this.  It's not what I would do, then again I'm not a 21 year old who was just handed several million dollars.  If I was I likely would have splurged on something big too.

In fact, related to #4, I bought the GLD (gold ETF) in the market a few months ago.  I just don't wear it around my neck but it's completely true that a new car would decrease in value much quicker than precious metals.  So I got something in common with the Big Ticket....

excited seinfeld GIF

 

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50 minutes ago, DirtyJersey said:

There is no comparison between buying & selling paper gold and buying & selling gold jewelry.  

Correct, at least in relation to the intended purpose of such a purpose.  And certainly not when you stamp the chain with something like "Big Ticket," but my point was a simple one.  Let's not criticize him for buying something like that when an automobile or many other things would depreciate pretty damn quickly.  I had a friend who sold a small business in 2016, he used about 10% of the proceeds on a weekend long party in Las Vegas for 100 of his friends and family, all expenses paid.  It was his money so to each his own, but I'd call that more frivolous than what Mekhi did.

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7 hours ago, DirtyJersey said:

Jewelry probably depreciates more than cars when you leave the store.  % of value retained if you trade in a Lambo the day after you bought it is probably higher than a piece of jewelry, which probably gets you scrap value.

You might be surprised.  The economy went through a period years ago where copper prices were escalating so high that thieves were stealing piping from inside walls and other places.

I can't tell you the direction of spot gold prices in the coming days, but I can almost guarantee that a non-collectible automobile will lose value the second it drives off the lot.

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