THE UNBIASED RECESSION You may think that the global recession does not have much impact on the super rich. It may not impact them in the same way that it does you and me, but it is all relative, and even the super wealthy find them selves having to scale-down. And that is where most of us share a commonality. Because we allow ourselves to be validated through possessions, and by others, scaling down is embarrassing.

When Denzil can’t keep up with the repayments on his Z4 and has to scale down to an Audi A4, he is embarrassed.
When Lukmaan’s Toyota is repossessed and he has settle for a second-hand Mazda, he is embarrassed.
When Crystal, who does not even own a car, has to take her DVD Player to the pawnshop for taxi fare to get to work, she is embarrassed.
And when Rifa, who is unemployed, has to exchange empty bottles at the local shop to buy two loose cigarettes, she is embarrassed.

Through this embarrassment, all of them pray for the same thing.
‘I hope nobody sees me.’

 

Well, the super rich are going through exactly the same thing, but someone has come up with a business plan to at least offer them some discretion and privacy.

Internet auction site BillionaireXchange launched on Monday.
The company said it has already played a role in the sale or exchange of more than $180-million (about R1,2-billion) in assets during a 10-month test phase, and has noticed a trend of distressed transactions from US clients.
"Because of the current economic conditions in the US we're seeing a lot of people who need to actually trade out or trade down from some of their luxury items and facilitate that transaction somewhere discreetly and privately so that they don't have to deal with the shame and or embarrassment of downgrade."

The site facilitates sales and trades of everything from arts and antiques to commercial properties, businesses and foreclosed homes, family jewels, luxury yachts and exotic cars.
The firm counts among its clients professional athletes and A-list actors. Overall, the five-member firm claims more than 26 000 multi-millionaires as well as "nearly a dozen" billionaires as its members.

So, if you are looking for a solid business plan to start coining it right here in South Africa, consider opening up a discreet mobile pawnshop.
The potential client would telephone you, and you would then travel to the client’s home in an unmarked car to view the goods and complete the transaction.

Better still, you could discreetly meet with the client in a secluded place, far from the public eye.
You know, like buying stolen goods.

Kader Khan
Editor
info@yummie.co.za