Quote:
Originally Posted by Brent G.
If someone wants to ignore extensive sales data over the past 12, 6, 3 months, or even the past week, and price an item at way above those numbers, that's certainly their right. A used car salesman can ignore Kelley Blue Book and price an '86 Ford Escort at $20,000 if they want. And they can sit on that thing when no one buys it.
|
And by sitting on that Escort at 20K, they’ll eventually figure out that the market at that moment isn’t interested. Either they accept that and hang onto the car, or they lower their price. If no one buys it, oh well. If someone gives them 20K, job well done.
Every transaction is different for any number of reasons. If you went to Costco right now and bought a hotdog, what is the cost? $2 maybe? Now, let’s say you’ve been walking through the dessert for two weeks with nothing more than a $100 bill in your pocket. After two weeks, you stumble across a hotdog stand where hotdogs are $100 each. Are you buying that hotdog, trying to negotiate the price down, or walking away because you know hotdogs can be found elsewhere for $2? Different people may have different responses. Is the dessert hotdog vendor crazy for asking $100 or is the value to him determined by what’s involved in getting that hotdog out to the dessert?
We know that there are tons of low value cards that just don’t come up for sale often. Set builders may go nuts looking for that last card that they finally find after 20 years for $2. Would they have paid $100 ten years earlier to complete that set? Some say yes, some say no.