Market Bubbles in My Hobbies: Challenges and Transformations

Introduction

Throughout my multifaceted hobbies, I've experienced the rise and fall of market bubbles that have significantly impacted my activities. This article delves into the challenges and transformations I faced in my roles as a musician, ice carver, and coin collector, as well as the impact of global events on these endeavors. Let's explore how these bubbles formed, burst, and what changes I've witnessed in the aftermath.

The Musician's Bubble and Its Burst

I am a passionate musician, performing in an acoustic band, and have been deeply involved in the vibrant local music community over the past few years. This was a tight-knit group of musicians supporting each other and delighting local audiences through regular open mics. This community experience was like a bubble, filled with growth, support, and mutual enjoyment.

However, the bubble burst when the COVID-19 pandemic hit. Open mics and performance opportunities dried up almost overnight. For over a year and a half, we had to shut down all the open mics, leading to a significant reduction in performance opportunities. This downturn has not only strained the community but also led to the passing of a key member of the music community from COVID. The hope and anticipation for a return to normalcy are tempered by the knowledge that the community we’ve built will never be the same.

From Ice Carvings to Fruit Art: A Creative Pivot

A long-standing tradition of mine is hosting annual motorcycle picnics. Before the pandemic, I was a keen ice carver, transforming two 200-pound blocks of ice into elaborate sculptures. These included swans, an Indian on a motorcycle, and other intricate designs. Each block measured 8 inches by 24 inches by 40 inches and could cost up to $60.00. When I could no longer afford this level of expense, the price tag soared to $100.00 per block, forcing me to explore more affordable alternatives.

To adapt, I turned to fruit carving as a substitute. Carving flowers from watermelons, honeydews, or cantaloupes became a popular centerpiece for the picnic. I also created a 32-inch ceramic platter for serving these carved fruits. Recently, I’ve been experimenting with making chocolate-covered strawberries and even attempting to mold chocolate into faces using techniques inspired by Japanese wagashi art. However, this process has proven challenging, and I’ve been using chocolate dough instead of white chocolate to achieve better results.

The Turbulent World of Coin Collecting

My collection of coins has also experienced its fair share of ups and downs, particularly during market bubbles. The first notable bubble occurred when the Hunt Brothers attempted to corner the silver market in 1979. Silver prices skyrocketed, reaching over $40 per ounce, but the bubble burst shortly after, causing prices to plummet dramatically. This bubble had a significant impact on the value of many collectible coins, which are often made of silver.

Another bubble emerged in the early 2000s, when silver prices again soared to around $40 per ounce, followed by a sharp decline. If you own a one-ounce coin valued at $10 as a collectible and the price of silver is under $5, this can have a substantial impact on the coin's value. For example, a one-ounce silver coin might be worth $100 when silver is priced at $40 per ounce, but it could drop to a mere $20 if silver prices drop to $5 per ounce.

Conclusion

The world of hobbies, especially those involving performance, art, and collecting, can be susceptible to market bubbles. These bubbles can be both exciting and devastating, as they bring periods of growth and prosperity, followed by sudden drops that can leave a lasting impact. It’s important to stay informed and adaptable in these rapidly changing landscapes. Whether it’s through creativity, financial planning, or community support, overcoming the challenges posed by these bubbles is key to maintaining a healthy hobby ecosystem.