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Which markets are those? Besides black markets
by matthewbauer 9y ago
Which markets are those? Besides black markets
- whb07 9y agoWell for one any sort of auction/market like ebay, flee market, high end auctioneers, the like. They are trading precious metals/jewelry, other objects in which the buyer hopes to profit at some later point in the future. No one is out there buying XYZ widget in the hopes of burning their savings. No one is buying an ultra rare watch for $10 million in hopes that one day it will be worth less.
- semiel 9y agoThose aren't securities, though, because their value doesn't depend on the efforts of the seller, which is one of the prongs of the Howey test.