Auction Market Strong Amid World Woes
Published: Oct 16, 2008
Updated: Jul 4 2011
Sell gold, buy Nazi memorabilia. That's the word coming from an auction house in the U.K. Despite the economic downturn, the sales of Nazi remnants from WWII remain strong. Interest is very high for an upcoming auction which will feature Nazi war ensigns and a half dozen swords and daggers. It might not be a healthy sign of an economic recovery, but luxury items still are a hot ticket.
Implications - Even though the economic recession has turned a certain majority of consumers into money-conscious individuals, there is still a large demographic that is willing to maintain an opulent lifestyle. Companies that provide products with prestige and luxury can profit from these individuals.