Monday, August 2, 2021

Cash crazy

Section:

A diamond, an Aston and a startup are indicative of market madness

 

In the last twenty-four hours, three extraordinary priced items have hit the headlines. The first, a diamond, sold at Sotheby’s in Geneva for £51.6 million ($83 million); the second, an unrestored Aston Martin made £131,000 ($209,000) at an auction in Harrogate and the third was the reported £1.9 billion ($3 billion) offer made by Facebook for the app Snapchat.

 

The Pink Star diamond
The Pink Star diamond

At Sotheby’s, a New York-based diamond cutter named Isaac Wolf set a new record for a gemstone at auction in paying $83 million for a 59.60 carat pink diamond. Previously named the “Pink Star”, Wolf renamed the oval-cut stone the “Pink Dream” after competing with three others in a five minute bidding war.

 

The barn find Aston Martin DB6 Vantage
The barn find Aston Martin DB6 Vantage

The Aston Martin DB6 Vantage sold by Bonhams yesterday achieved £131,420 after a bidding war broke out between online buyers and those in the room at the Yorkshire Showground. A “barn find” that had not been used since the 1990s, the car sold to a Chinese buyer against a pre-sale estimate of just £60,000 to £90,000.

 

Evan Spiegel founded Snapchat in 2011
Evan Spiegel founded Snapchat in 2011

Meanwhile, reports that a 23-year old named Evan Spiegel turned down an offer of $3 billion for his Snapchat app from Facebook are equally extraordinary. These are interesting times in all sectors it seems and these are prices most definitely worthy of chronicling.

 

 

Subscribe to our free once daily email newsletter here:

    The Steeple Times
    We research and background check our articles. If you believe we have made and error in some detail please get in touch, we seek always to write the truth and stand against a press owned by a self selected few. Please help us, we will accept all your likes, subscriptions and anonymous suport. The Editor and his team at the Steeple Times.

    3 COMMENTS

    1. yes interesting times , my daughter said face book is for oldies, and snapchat is her thing. RIP Face Book as next generation simply aren’t even logging on..

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Advertisement
    Advertisement

    Become a Patron of The Steeple Times

    Independent journalism will only remain independent if it is supported by clear-thinking people like you. We each have the command to make a real difference. Join us.

    2,668FansLike
    2,068FollowersFollow
    11,545FollowersFollow

    Subscribe For DAILY NEWS

    Please subscribe, like and share this very British site, it helps us grow. Your data is protected and The Steeple Times will send you an email at noon everyday that we rather trust you will enjoy.

    Advertisement

    Weather

    London
    overcast clouds
    15.5 ° C
    16.7 °
    13.8 °
    75 %
    1.3kmh
    100 %
    Mon
    16 °
    Tue
    20 °
    Wed
    23 °
    Thu
    20 °
    Fri
    21 °