Tag Archives: Mayfair Economy

Apple 1 sells for a whopping $387,750 in online auction

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“Instead of paying top dollar for the newest tech products, some people are spending a lot of money on the oldest tech products.  One of Apple’s original computers, known as the Apple 1, sold for $387,750 in a Christie’s online auction on Tuesday. It’s the highest priced item ever sold in one of Christie’s online-only auctions.  The computer was built in Steve Jobs’ parents’ garage and designed by Steve Wozniak. There’s no monitor, but Christie’s says that the device is still functional.  While nearly $400,000 is a lot of cash, it’s less than the price of another Apple 1 that was auctioned off in May. Sold by German auction house Breker, that Apple 1 fetched $671,400 — but, it had a monitor.”

http://news.cnet.com/8301-13579_3-57593189-37/apple-1-sells-for-a-whopping-$387750-in-online-auction/

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World’s costliest auctioned car ‘in Swiss hands’

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“The most valuable road car ever sold at auction, a candy red Ferrari convertible that fetched $27.5 million at a sale in the US last weekend, was acquired by a Swiss buyer, a report says. The unidentified successful bidder acquired the 300-horsepower NART Spider sports car, built in 1967, at an auction in Monterey, California. The car was previously owned by Eddie Smith Jr., the son of Eddie Smith Sr., an American multi-millionaire from North Carolina who bought the car new in 1968 after travelling to the Ferrari plant in Modena in northern Italy. With a 3,866cc V-12 engine and five-speed transmission, the two-seater was only one of 10 such models made.”

http://www.thelocal.ch/20130822/worlds-costliest-auctioned-car-in-swiss-hands

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Over 50% Of Electric Cars Sold In US Are In 5 Cities

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“Here’s the list: Los Angeles, California; San Francisco, California; New York City; Seattle, Washington; Atlanta, Georgia. Georgia offers a tax credit for electric vehicles that is equal to 20% of the vehicle’s cost, up to a maximum amount of $5,000. California has many charging stations, which might have contributed to its presence in the list above, but it also offers a $2,500 incentive for electric vehicles. New York City has its own EV policies that surely helped stimulate EV adoption a bit, but the fact that it is the largest city in the US (by far) is also surely a factor.”

http://cleantechnica.com/2013/08/19/top-electric-car-cities-us/

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Tesla Motor’s Model S is the safest car ever tested

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Tesla Motor’s Model S is the safest car ever tested

“Tesla Motor’s fully electric luxury sedan, the Model S, isn’t just the best car ever tested by Consumer Reports. It is also the safest car ever tested by U.S. regulators. The Tesla Model S has earned a 5-star safety rating, both overall and in each individual category, from the National Highway Traffic Safety Administration (NHTSA). The car has a Vehicle Safety Score (VSS) of 5.4 stars, a better than perfect score. The car has received glowing reviews, but with a base price of about $70,000 it is too expensive to be enjoyed by most Americans. Tesla hopes to begin selling a cheaper fully electric SUV, the Model X, in 2014.”

http://www.rawstory.com/rs/2013/08/20/tesla-motors-model-s-is-the-safest-car-ever-tested/

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Steinway Agrees to Be Bought by Paulson for $512 Million

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“Steinway Musical Instruments Inc. (LVB) agreed to be acquired by Paulson & Co., the hedge fund owned by billionaire John Paulson, in a deal valuing the 160-year-old piano maker at about $512 million. The piano maker that gave the company its name was founded in 1853 by German immigrant Henry Engelhard Steinway in a Manhattan loft on Varick Street, and over the following decades became a brand recognized worldwide. The company was bought by saxophone maker Selmer Industries in 1995 and taken public the following year. They expanded through acquisitions and faced declines in sales during the recession.”

http://www.bloomberg.com/news/2013-08-14/paulson-co-to-buy-piano-maker-steinway-for-512-million.html

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Will the new gold iPhone lead to an unexpected windfall for Apple in China and India?

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“Amid all the head-scratching about the apparently confirmed (but not by Apple) rumor of a forthcoming gold iPhone, one observation has come up again and again: It’s likely to be quite popular in China and India.  In China, ‘[N]othing trumps gold as a symbol of wealth and privilege,’ Simon Cousins, CEO of China-focused PR company Illuminant told Gizmodo. All Things D, among others, has reported that the gold coating would be an option on the iPhone 5S.  Gold is also extremely popular in India.”

http://qz.com/117073/will-the-new-gold-iphone-lead-to-an-unexpected-windfall-for-apple-in-china-and-india/

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Swiss luxury home market turns downward

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“The market for high-end homes is suffering from a lack of demand and too many properties for sale, French-language daily Le Matin reported this week.  The Collins’ residence was just one example of luxury estates in the Lake Geneva area that are not fetching the prices sought by vendors. ‘The demand is less strong these last few months,’ Cyril Aellen, chairman of the Geneva real estate chamber, is quoted as saying by Le Matin.  In the upscale Geneva municipality of Cologny, no fewer than 20 mansions are for sale.  And Le Matin notes that the luxury market has faced a sharp slowdown in activity over the past 10 months.

http://www.thelocal.ch/20130820/market-for-luxury-swiss-homes-turns-downward

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Wanted: A Boring Leader for the Fed

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“Quantitative easing has amounted to an audacious experiment in trickle-down economics. Among other things, it has artificially boosted the stock market in the hope that enriching a few — the top 1 percent of American households owned 42 percent of the nation’s financial assets in 2010 — will help the many. Meanwhile, retirees who don’t dare buy stocks have seen their modest bank deposits stagnate with interest rates near zero. Economists hate to admit it, but the profession is as much faith as science.  Counting on monetary policy to secure full employment is like attempting vascular surgery with a dull ax.”

http://www.nytimes.com/2013/08/21/opinion/wanted-a-boring-leader-for-the-fed.html?_r=1&

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California adds 500,000 renters while homeownership declines amidst a boom

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“The California housing market is providing us with two different pictures.  First, home prices have surged and inventory is still very low.  However, the homeownership rate continues to decline from the peak reached in 2006 of 60.2 percent.  Since 2007 California has added a net of 500,000 renter households while losing a net of 233,000 homeowners.  Yet the market continues to boom in the face of a declining homeownership rate.  As we look at the market today we start seeing a slowdown in the speed in which flips are being accepted and inventory is rising.  With higher interest rates and the fall season just before us, will the market thaw or continue to accelerate?”

http://www.doctorhousingbubble.com/california-rental-world-california-renters-rentals-food-stamps/

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The most expensive home styles in America

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“Most people know that a mansion costs much more than a farmhouse. What many might not be aware of is that the style of a home can also have a major impact on its price. A Mediterranean-style home sold in the U.S. costs an average of $1.32 million, while a ranch-style home costs less than a fifth of that. Real estate site Trulia provided 24/7 Wall St. with data on the price and popularity of different home styles for which the average price listed by Trulia was greater than $650,000. Descriptions of home style characteristics and history came from groups including Realtor Magazine and Better Homes & Gardens.”

http://www.marketwatch.com/story/the-most-expensive-home-styles-in-america-2013-06-15

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