Pejman Ghadimi
speaker
891 appearances
3 recordings
3 series
first heard Sep 2016
last heard 19 Jan
Pejman Ghadimi’s voice in public audio — every appearance, attributed to the second.
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Appearances
That's what I mean by used. And you can still make those bags literally like turn into a profit center by wearing them for free for... Three four or five years and maybe making five six grand at the time of sale And we teach that in one of our courses to called secure the handbag secure the handbag.
That's great Yeah, we have courses on the cars watches Art and handbags as well as real estate So we we basically teach people how to take any of the expenses that their lives required them to have In the luxury segment and turn them into a money-making opportunity instead.
So that gets a little bit trickier. So art and wine are a very acquired taste, and it's a very specific type of segment that's very hard to transact in. Actually, you're a case study in one of my courses, too, for the card market. You know, because you do the all the cards. Yeah, exactly. So cards.
I was actually talking about this in one of the in one of our webinars is that a lot of people ask me, well, what about cards? What about sneakers? What about these other things? Right. They're all collectibles and technically they could be sold. So it goes back to the wine thing. So you'll kind of loop into this.
So the reason sneakers really don't fit into the model we talk about is because sneakers have no utility because once the utilities used, meaning once you put them on, The value is gone, right? So, right. So they're gone. Like you buy those like expensive sneakers.
Right. Like, so you're buying them, right? Like, and you, you understand they're worth a lot of money, but once you use them, that worth basically disappears. So it's almost like you can't, you, you can buy something. It's arbitrage. You buy cheap, you look, it might go up, you buy it. So. It's different because we talk about the utility of things is just as important as the investment.
So the difference between investing in the stock versus investing in a car is that you want a car. You're going to buy a car anyways. You want a watch on your wrist. You're not forced to. You're going to buy it anyways. So the utility is very, very important.
And cards, specifically, don't necessarily have a utility in that manner because you can't, like, throw a Pokemon card at someone for something. Right.
The main thing that's really important about cards is the one piece of it that's become very transactional over the last couple of years is the institution of it, which means that people like you have basically opened shops that enable people to trade these things and have liquidity for them, right? So they can come to you. I'll buy it. Right. You'll put a number on it.
Now, that number might be lower than what the market is because you're like, I'm in the business of making money.
Exactly. And cards have become that because of people like you, because they're becoming more institutionalized where people can trade them. So wine also has its model like that, but it's not as open. And because it's such a scarce amount of people, it doesn't work in what we talk about. So similar to art too.
You could have art that's like basically $5,000 art that's worthless that you're buying that has no value because you like the picture. Or it could be blue chip art. Like you might be buying something that you like a, I want to say like a brainwash or something that you're like entry level still has some kind of tradability because people want it.
And you might say, OK, I paid like five, but it always will be worth four. Like so it's always has some liquidity. And that's what we mean by a store value. So you have to find things that have a continuity of institution being willing to pay for it so that you're never overpaying and have huge drops of like 50 to 80 percent because you're just buying because you want it.
Nobody really wants to put a pawn shop, you know.
Of course. So the value keeps going up, of course. And it's the same thing about those collector cars you talked about. You know, when you're only making five Bugattis and you've got 15 people wanting them, in five years, two of them will be crashed too. There'll be three of them, you know, and there'll be people that'll never sell them.
And there's that one guy that'll drop it and he'll be like, I'll sell mine for five times what I paid for it. And someone will be like, okay, I'll pay it.
I think I saw that on social.
Significant. I mean, but remember, in the watch market, there's also this illusion of this heavy illusion of scarcity. So if you go to a Hublot boutique, you'll see they'll say this is one of ten units, but ten units of something nobody wants is still worthless. So it has to be very specific.
Like if you said, hey, I bought this really rare Ferrari everybody wants, and this is the only one that's baby blue, it would bring significant money. But if you said, I bought this Ferrari that nobody cares about, and I decked it out in this beautiful pearl white, and there's only one in the world, it would still depreciate 50% of value.
So the argument is if you're buying the goods people want generally, and you're getting the scarcer versions, meaning the versions that are even more exclusive because of the dial, because of the, like maybe the size, the dial, or if it's a car, it could be the options on it, the color, the specifications, then those things will be astronomical like art because cars and watches are an expression of status.
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