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re price and value

updated sun 10 dec 00


artimater on sat 9 dec 00

sorry charlie.....wrong again]
so what you are saying is that if i didn't like picasso and i found =
one of his paintings in the attic i might as well throw it in the =
trash...i have to be a fool ....
everything has an intrinsic value whether the holder recognizes it =
or not......nothing to do with price at all although value does inluence =
price sometimes.....try to buy a Jomon pot from the japanese......they =
will get a good laugh and you will learn a lesson
original post follows
Value and price are both determined by what a willing
seller will sell for and a willing buyer will pay at a particular
time and place.
Nothing more, nothing less.
It gets fun because people value things differently.
It's normal for the seller to over-value his possessions and
think he is selling too cheap and the buyer to under-value
it and think he is paying too much.
That's how deals are made.
It's as simple as that. Economics 101.

Anything else, such as appraisals, guide book prices,
or what the maker thinks something is worth, range from
honest estimates, to hoped-for values, to outright scams.
Around here we have a jewelry store advertising that
everything they sell will 'appraise for 150%' of what they
sell it for. And, you've probably seen the ad where, if you
will just visit the time-share condo, you will receive 'prizes
worth over $800'. The 'value' you assign to an object in
your possession means nothing until it is validated by a buyer.


"i only indulge when i've seen a snake, so i keep a supply of =
indulgences and snakes handy"