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Cultural memorabilia is heating up as Nvidia CEO Jensen Huang's iconic leather jacket auctioned for $960,000
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On July 17, a signed Tom Ford leather jacket worn by Nvidia (NVDA) CEO Jensen Huang sold at Sotheby's for $960,000 — a staggering 16 to 24 times its pre-auction estimate of $40,000 to $60,000.
"I think you're just seeing the start of this for anything that is culturally relevant.
While the Huang jacket sale is noteworthy, it takes a back seat to some of the pieces tied to Apple's (AAPL) history.
Added Keeney on the broader collectibles market, "I think there might be [a bubble] in certain sectors.
Like you see certain things like anything else that are overvalued, but we believe actually memorabilia is wildly undervalued."