Economists tell us that the 'price' of an object and its 'value' have very little or nothing to do with one another. 'Value' is entirely subjective economic value, anyway while 'price' reflects whatever a buyer is willing to give up to get the object in question, and whatever the seller is willing to accept to give it up. Both are governed by the Law of Marginal Utility, which is actually a law of psychology, rather than economics. For government to attempt to dictate a 'fair price' betrays complete misunderstanding of the entire process.
Si inuenissem emptorum, Londoniam uendidissem. If I could have found a buyer I would have sold London itself.
It's like a vicious cycle. How the hell could you turn around and be a buyer with all of this stuff going on?jack baker
[In this auction we may expect the article to be sold to] "the most eager buyer at a price which is just about the highest he is willing to pay, for in this case the most eager buyer does not know what prices the other buyers are willing to give [and] ... each buyer fear that someone may slip in ahead of him.kenneth boulding
The most common cause of low prices is pessimism some times [ sic ] pervasive, some times[ sic ] specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.warren buffett
1. Never give anything away for nothing. 2. Never give more than you have to (always catch the buyer hungry and always make him wait). 3. Always take back everything if you possibly can.William S. Burroughs
The more you realize that most judgements are greatly influenced by random, extraneous factors that most people judging you are more like a fickle novel buyer than a wise and perceptive magistrate the more you realize you can do things to influence the outcome.paul graham
And as in other things, so in men, not the seller, but the buyer determines the Price.thomas hobbes
One of the functions of an industrial designer is to bridge the gap between manufacturer and ultimate buyer.
Create and save customized flash cards. Sign up today and start improving your vocabulary!