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@Howard
A lot of things saw those kind of price increases at that time, especially things that were scarce, desirable and justifiably an 'investment'. There was just a lot of money sloshing around and lot of positive sentiment, and folks were buying 'stuff' rather than experiences because the later was restricted in availability and somewhat risky. + IIRC there was also a lot of folks in China hoovering up Swiss watches for the same reasons but at a different scale.