'There’s a lot of mainland Chinese buying; either they didn’t know what the items are worth or they wanted them so badly that price didn’t matter'

Record-setting prices for gems at Christie's Hong Kong auction. More evidence, I think, that the worldwide economy is screwed big-time and long-term.

Just as interesting though? The auction coming up Dec 10 in New York City. As for the identity of the "distinguished private collector" who's selling "magnificent jewels," any irresponsible guesses?

ADDED: Oh my gosh, did you preview tomorrow's Country Music Auction? LOOK AT IT! There's stuff from Roy Rogers, Johnny Cash and Loretta Lynn! What's not to love? I want the Dale Evans hand-tooled leather fold-out purse (lot 21) and I'd marry the man who buys one of the Nudie suits and wears it.