I barely understand that people would overpay for pappy van winkle or Weller, etc. I really don't understand paying a premium for nothing special about a mass produced bottle of cognac. p.s. I really liked Obama... not so much the human imposter that immediately followed.
I looked at one of these in a store in San Francisco a few years ago. I couldn’t understand why it’s considered a “collectors item.” I think they made about 250,000 bottles, so it’s far from rare. It was priced at $400 then.
But what really got me was that this is VS Cognac, which is Hennessy’s entry level. I would have expected a special commemorative bottling like this to be XO or at least VSOP. At that store they had the regular Hennessy VS displayed just a few feet away, marked at $40. Hard to want to pay 10 times as much for a commemorative bottling, but those were the prices.
Maybe it’s worth a lot more today, now that a lot of them have probably been drunk up.
Why.....simply because to become a "collectible" , a certain sub-set of the population must both want to own the item and simultaneously be unable to obtain it. Hence the "limited edition"....
who wants a non-smiling white woman just sitting there ? (Mona Lisa 1 of 1)
who wants an old 1 cent postage stamp with a dead president on it ?
who wants a piece of cardboard with a picture baseball / basketball player ?
who wants a worn out coin from the 1700's ?
ever heard of the Dutch Tulip Bubble where people paid fortunes for bulbs ?
We recently had a version of this here with the Beanie Baby Craze...(Now 10c /each)
So out of alllllllll of the above which you can spend MILLIONS on....some of
which were MEGA-MASS produced (see the US state quarter program) and
then you take into account that this bottle actually has intrinsic value (you can always drink this collectible......unlike any of the above....
You take an item, which celebrates the 1st black person in the history of the world to lead the most powerful country the world has ever known and limit it to only 250,000 for the approximate 8 BILLION people on the planet
.....and wah-lah.....$1100 bucks seems like a bargain....(and again, only if you are
....(and it sounds like you are not).....in this sub-set of people)
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