From a local Auction site;
"Fairfield, Maine - On Monday October 6th & Tuesday October 7th the U.S. Stock Market plunged nearly 10%, the world economy flirted with catastrophe but in Fairfield, Maine an assemblage of rare antique guns brought extraordinary results, despite the economy. A Colt Walker pistol, made for use in the Mexican War, and considered to be one of the finest examples in existence sold for a spectacular $920,000. This was the most expensive, single firearm ever sold at auction in the world. Julia’s held the past two World Records for Walker Revolvers with previous sales of $480,000 and $432,000. This Walker carried a pre-sale estimate of $500,000 to $1,000,000; another rare Colt cased fluted Army sold for $454,000. Total low estimate of all items sold was $9.7 million and sold for approximately $12 million. In all 2 objects sold for over $400,000, 10 objects realized above $100,000, 31 sold above $50,000, 124 sold for over $20,000, and 294 sold over $10,000. The average sale value of approximately $11,500 is the highest average ever achieved by an auction house for firearms.
The sale was, unquestionably, a tremendous testament to the demand, confidence and resilience of antique, tangible assets."
http://www.jamesdjulia.com/firearms.aspQuality(unmessed with) guns,antiques,jewelry will always sell and hold or gain value.The middle and low end market will not.
"Not everyone sells into a declining Dow Jones Average, but those who do will have a hard time getting 3% interest in what looks like 5% (or more)inflation. Now may be the time to buy the Dow at 8,800 down from about 14,000 little over a year ago... "
IMO now is NOT the time to jump back into to the market (if I recall there was some joker on here last summer saying it was a great time to buy,-hope he found a window high enough!).Gold,cash and some select commodities (Cocoa for instance) and selling into any ralley in the DOW will work a lot better then the old dead buy and hold.
