Steve Jobs’ Sandals Sell for $218k
Alternative assets are down but not dead
This might be one of the few posts on Rad Pursuits without any photos or images. Because I’m only featuring this item to point out the awesome fact that we are all free to like what we like. What I think is awful, someone else can think is amazing, and vice versa.
Case in point.
Steve Jobs’ old Birkenstocks sandals sold for $218,000.
I’m not going to post the picture but I’ll link to it. I was scrolling through my phone while eating lunch (I should stop doing that) and saw the headline and a photo of the sandals. My first thought was yuck and I was suddenly a bit less hungry.
But clearly someone else out there is a big fan of Steve Jobs and has way more money than I will ever have.
So while this isn’t for me, I will still tip my hat to the buyer. For someone, these must be a grail piece for their collection.
I’ve also never worn a pair of Birkenstocks. They seem like the sandals that once people get a pair, that’s all the get for the rest of their life. A lot of brand loyalty there. Maybe if I was a member of the Birkenstock crew, I would be more understanding of these sandals selling for almost a quarter million dollars.
But there is another reason I’m rambling on about some old sandals. It goes to show that alternative assets are not dead. 2022 has been a rough year for all types of markets. High interest rates are putting downward pressure on real estate. In stocks, the S&P 500 is down 18% year to date. Cryptocurrencies are down and NFTs are down bad.
It’s hard to say alternative assets are dead in the face of those sales, even if it feels like it. I know that’s not much of a consolation if your current portfolio is down. Everything in my Rally Rd and Collectible portfolios is down between 55% and 65%.
Here’s to hoping we see some recoveries in alternative assets soon.
That’s it for now.
Stay rad. 😎