How will the COVID-19 pandemic affect sites like Audiogon?
One would think that with social distancing and shelter in place policies, there has never been a better time for upgrading and enjoying your audio system. But is now the time to buy and sell? The mass unemployment and economic distress accompanying the pandemic seems certain to undermine what is essentially a luxury market encompassing both gearheads and music lovers? What effects on buying and selling audio gear — both short and long term — can we foresee?
Jetter it was actually pretty easy to watch and predict when this was going to devastate the stock market. Sure I waited a day or two too long but I moved the majority of my 401k holdings into fixed cash bonds just prior to the grand slam. Yes I lost some $ but not dreadful.
And no I am not a broker or connected, just observant and reasonably intelligent no matter what some here think.
So goes without saying that it was also pretty likely to hit just the way it has. I had no need to rush out and buy toilet rolls... lol. We already had them!
I agree with Uber, this will create a buyers market. Personally I hope no one has to sell to raise survival funding. I really hope the real end game here is that, we are all safe, healthy and if facing additional time off. Spend it getting onto your music collection and rediscovering the real reason you bought that album. The drum solo, guitar lick, bass line or maybe the album cover👁
IMHO, we are all going thru this, rather than focus on the problems we cannot fix. So instead of worrying, enjoy as much as we can while taking the necessary precautions. Whether the flood comes or not, the only real option we have is to be mentally sandbagged in our most vulnerable spots.
I have read every post that stereo5 has written over a lot of years with interest, but when I read when anyone posts " The government cares more about propping up big corporations than ordering companies to start to manufacture what is needed to fight this." I lose faith in the author.
nonoise, I am a very sensitive person, but the constant liberal drivel about how F. U. our response has been doesn't sit well with me. I am an independent, so no bias one way or the other. A month ago no one really saw this hitting the U.S. like it did, arm chair quarterbacking is always 20 20. Otherwise a lot of us would have deep 6'd our stock holdings.
stereo5, I concur wholeheartedly. I'm beginning to wonder if resources aren't already being allocated according to hierarchy, status, and fealty to those in charge. I wouldn't put it past them.
They did it with their stocks so it would be foolish to think otherwise.
jetter, that was an incredibly sick and mean thing to say.
@stereo5 : We also are old, and we're having groceries delivered, to reduce contact with others. If that's available in your area, you might consider it.
I worry about my wife, kids, other family and friends.
I would think if you really cared instead of investing $10s of thousands in a stereo system you would have bought life insurance instead to insure their continued well being after your gone.
Stereo5, I am very sympathetic to what you are saying. Many people in this hobby are also in the most threatened demographic. It will be a hard slog. I understand and wish you, and everyone in your situation, a healthy outcome.
If one has the spare cash there is likely not going to be a better time to buy. selling? Pretty dire even if a hot item.
With the spare time at home folks have right now I would say tweaks would be big time spenders. Things that require little capital, Just time. like removing and cleaning all cable connections. rerouting that rats nest of wires you think is out of site out of mind behind your rack. working on speaker placement. cataloging all your music via Discogs for example.
The changes that are now and will comes are too big for most to figure out now....I cannot imagine to speak about my tweaks with the same enthusiasm now....Solidarity and speaking to one another.... Listening music is the way to go trough that... But buying luxury no for most....
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