Re: Dear China...
That's how it would work if limited runs of luxury items didn't accrue value.
People are buying luxury items out of runs of 100 to sit and admire it. It's a store of value and a way to move wealth around in channels outside of the banking system.
This is pretty much the sole reason fine art never goes down in value. If you need to move $10m easily, you buy a painting...you might buy it in Christies in London, ship it to New York and sell it again a month later. You have now moved your capital out of the UK and into the US with very little paperwork, you probably made 10% (because your purchase might have been record breaking, raised awareness of that piece and thus it's value) and the cycle continues for the next person that buys that piece.
Some people genuinely collect fine art, but most of the people involved do not...they buy it to sit on it to store wealth...the clever part is they get to be seen to "donate" it to a gallery for a period of time, so the "public can benefit" from it...but really, it's about ensuring that piece remains publically well known, which improves it's value...crucially, the responsibility to protect and insure it falls on the art gallery, not you...Art Galleries are not public institutions for the benefit of the general public...they're fully insured bank safe deposit boxes you can walk around in.