You can get this, a $50 value, for only $19.95!
(originally posted somewhere else July 5, 2007)
I know all of the lovely, talented, intelligent, savvy people here are already quite clear on the point I'm about to make, but I'm going to make it anyway because I just had a really frustrating conversation with a friend who is having money troubles and can't seem to resist a "deal" ...
It doesn't matter how much someone tells you that their product is worth.
That's it. That's the whole point. Nothing complicated.
"But, but, but..." she said.
No! There is no "but." It doesn't matter if the guy on the commercial tells you that you are getting an extra dryer lint brush and extra something or other, a $39.95 value, for $19.95. You are not getting half off. Further, when he tells you that he'll send you an extra one for FREE (just pay separate shipping and handling), you are not getting $80 worth of dryer lint brushes for $19.95.
The VALUE of the brushes is what you are willing to pay for them. He can say they're worth $4000 and it's no more ridiculous than saying they're worth $40, because nobody would pay either amount. Nobody SHOULD, anyway.
Wanna know the VALUE of a lint brush? Go buy one at Bed Bath & Beyond and then offer it up for sale, still in the box, via whatever method you want to use ... craigslist, ebay, garage sale. That'll bring you back down to reality.
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1 comment:
I love it! The idea that value constitutes what someone else is willing to pay is both absolutely intuitive and totally counterintuitive. If there's an apocalypse, a store of canned veggies and tuna will probably be more valuable than a gold brick...not that I recommending canned food as an investment strategy.
PS: glad you're back.
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