You can now buy shares of rare Hermès bags

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  1. A fool is born every minute comes to my mind ...

    Even if you take the article seriously for one moment, “investing” in a $26.25 birkin share hoping for a return would not turn anyone’s dial even if successful. If you manage to double that “investment”, big whoop that you now have $52.50 in your account ...!

    I buy Birkins, cars, watches and the like for consumption pleasure and turn to my stock and real estate portfolio for wealth creation.
     
  2. The concept of purchasing a "share" in a Birkin valued above retail seems hilarious to me. Would you buy a stock above its current share price? No, you would not, because the actual, real price is available. A Birkin is a substantially worse concept even AT retail, since there is little data on the expected return. The "shareholder" is not holding shares in a company with a known management team and business plan, - it's one item, in this case already overpriced, with almost zero data on expected trend. You would not buy real estate with this profile, snd real estate is an actual necessity with, again, history and pricing data.
    For the same amount, even $26, you can put cash into any number of actual investments.
    These resellers either think we are fools or have hold of some strong recreational substances.
     
  3. #18 Feb 15, 2020 at 2:09 AM
    Last edited: Feb 15, 2020 at 2:19 AM
    When I read this a few days ago, my first and only thought was, oh, she wants others to shoulder the burden of carrying and purchasing costs. That's it. She shops at my same boutique, and spends SO. MUCH. MONEY there I can imagine that carrying all those bags for resale certainly adds up. I guess she flies in once a month for a week and spends 6 figures on rare and exotic bags. (She was also robbed in said hotel in a major inside heist last year or the year before possibly). As posted above $26 per share isn't all that much to someone, but maybe in bulk to her, it covers her costs. I would imagine accountability for losses over time would be something to address sooner rather than later, as I cannot imagine those exponentially inflated "values" to hold with demand and resale the way it is now. BUT if that someone loses $10, maybe they won't care so much, but at least she's covered her costs. Like those Quibids (??) something like that on TV. They are all like "I got this brand new iPad for $12!" but you have to purchase bids in bulk each costing like $2 or something. So 50 people at 20 bids each nets the company $2000.

    On a semi-separate note, did anyone see the IG post for fashionphile's birkin aisle? Sort of nauseating. I don't understand how "demand" is still so high with that level of ubiquity and selection.
     
    weibandy, Lejic and momoc like this.
  4. My problem with all of this is would you trust these people to value the "stock", keeping the records etc properly? They are not regulated by anybody unlike the conventional investment markets (even with regulation, we see wrong doings all the time!). How can you avoid "insider trading" with these people? I am sure the share value will be predicted to go up when you try to buy and somehow you will make a loss when you try to sell. :rolleyes::rolleyes: Ponzi and scam are the words coming to mind.
     
    insidemysoul, momoc and totesmcgoats like this.
  5. A fool and their money soon parted. . .what shyster came up with this concept?
     
  6. It’s absolutely hilarious. I thought I’d be reading an article from The Onion. This is so far beyond the realm of delusional, I don’t even know what to make of it.
     
    Txoceangirl likes this.
  7. Exactly. S&P 500 or shares in a consumer food that won’t be worth much when the market bottoms out again? Hmmmm, I wonder...
     
  8. After some digging around on the owners of Prive Porter, this smells strongly of “Fyre Festival”...
     
    Lejic, Txoceangirl and QuelleFromage like this.
  9. Oh my. A felon who is "like Jesus but prettier". I don't want to know any more :P
     
    totesmcgoats likes this.
  10. I saw on IG that it took only 7 minutes for the Hermes 35CM Bordeaux Crocodile Birkin to be funded. It had 272 investors.
     
  11. If you haven’t watched the documentary on Netflix, I highly recommend it. Straight up sociopath. And honestly, not as great to look at as people say.
     
  12. Oh that is nauseating.

    “Investors” is not the correct term here. Can you imagine visiting your financial advisor and chatting with them about this most recent “investment” you’ve made? They’d have you declared unfit to manage your own finances (if that were an option).
     
  13. My SA told me the same story and here is a news article too. https://www.fox5vegas.com/news/jewelry-purses-worth-k-stolen-from-encore-hotel-room-in/article_424e35a2-fcc1-5bd9-a5b2-cbddf1197b8c.html

    The entire Privé Porter team seems fraught with legal shadiness, in my opinion, and I would never shop with them let alone “invest” in any scheme they are selling. I wonder what, if any, government regulations are required for this sort of “investment business”...
     
    TraceySH and madamelizaking like this.
  14. Yeah none of it passes the smell test does it...