Close-up view of a gray Hermes Birkin bag in grained leather, during a photo shoot in Paris, Oct. 28, 2025.Edward Berthelot | Getty Images Entertainment | Getty ImagesDespite two recent blockbuster auctions for Birkin bags, overall auction prices for the iconic Hermès handbags are falling, according to a study.Earlier this...
Category: Wealth
Art Basel Miami sees strong attendance and sales as art market recovers
Art Basel Miami Beach racked up strong sales and attendance last week, as the art market rode a wave of renewed confidence following the strong November auctions in New York.More than 80,000 collectors and art fans poured into the Miami Convention Center for the annual art show, with several works...
Rising stocks and IPOs helped create 287 new billionaires this year
Wall Street sign in New York with American flag and Christmas tree lights in the background.Mwelsh | Istock | Getty ImagesRising stock markets, a return of merger activity and flowing inheritances helped create 287 new billionaires this year, bringing the global total to over 2,900, according to a new report.Billionaire...
Asset-backed finance is growing fast and drawing new scrutiny
A version of this article appeared in CNBC's Inside Alts newsletter, a guide to the fast-growing world of alternative investments, from private equity and private credit to hedge funds and venture capital. Sign up to receive future editions, straight to your inbox.The First Brands Group bankruptcy has cast a spotlight on one...
Manhattan condo values fell over the past decade. Here’s why rents are still rising
From July 2024 to July 2025, 1 in 3 condos sold in Manhattan sold at a loss, according to luxury real estate firm Brown Harris Stevens. Experts say this dynamic is somewhat typical in a city with high selling fees and high tax rates.What is unusual is the borough's wavering...