The Sotheby’s auction house has been named as a defendant in a lawsuit filed by investors who regret buying Bored Ape Yacht Club NFTs that sold for highly inflated prices during the NFT craze in 2021.

  • wamasi@lemmy.world
    link
    fedilink
    English
    arrow-up
    127
    arrow-down
    3
    ·
    1 year ago

    Should’ve invested in beanie babies like the rest of the smart people.

    • ChickenLadyLovesLife@lemmy.world
      link
      fedilink
      English
      arrow-up
      18
      arrow-down
      1
      ·
      1 year ago

      Back in the mid-90s I had a friend who inherited $40,000 from her grandmother and spent all of it on $75 Fossil watches, the kind that were based on old cartoons like Popeye etc. And it took her a while to do it since she would drive to malls within a few hours of her and clean out the department stores that carried them. That’s over 500 watches, a few at a time.

      She was adamant that this was an excellent investment, but these are on eBay now for $50 to $60. At parties she would pull out the collection and start showing them to people (no touchy, of course) as if there was something intrinsically interesting about a cartoon Fossil watch. The sad thing is, with $40,000 in hand she probably could have bought two or three times as many from a wholesaler and maybe eventually actually have made some money.