Barbie for $5,000, Rare New York Rangers Collectibles for $30,000 – Die-hard Americans sell their treasures for cash
Some cash-strapped Americans are selling valuables including Barbie memorabilia and sports memorabilia at sky-high prices, according to the WSJ.
High inflation, rising interest rates, and growing debt are just some of the challenges American consumers face today.
Fortunately, the collectibles industry is a lucrative industry, with global sales expected to reach $1 trillion by 2033.
Hard-core Americans have turned to selling their prized treasure trove of collectibles to live in a grappling economy High cost of living Historically high interest rates.
Mitch Beck is selling his stash of New York Rangers memorabilia that took 23 years to collect for up to $30,000, while 29-year-old Anorita Lubier trades in her collection of 300 Barbie dolls to pay her rent and electric bills. According to The Wall Street Journal.
“It’s literally like selling my life,” Beck, 61, told the outlet as he grappled with a six-figure debt pile.
Large interest rate increases by the Federal Reserve It didn’t make it easier for those deeply in debt. The central bank has raised record borrowing costs by a staggering 525 basis points since March 2022, bringing them above 5% from near-zero levels in a bid to cool inflation.
US consumer debt has soared as Americans deplete their savings and pandemic-era financial cushions evaporate. In a worrying sign of consumer health, credit card debt It topped $1 trillion For the first time ever, suggesting people are spending beyond their means post-pandemic.
Fortunately for Beck, the sports souvenir market is a lucrative one – global collectible sales are expected to reach $1 trillion by 2033, According to market break.
Loubier told the magazine that she plans to sell her rare collection of Barbies, which she has amassed since the late ’90s, for $5,000.
she said, pointing to The latest highly successful Barbie movie.
Along with mounting debt, Americans are also being stressed High costs of fuel, food and mortgage — suggesting that many US consumers face an increasingly difficult environment even as the economy continues to falter.
Read the original article at Business interested