On Tue, 19 Dec 2000, Marvin wrote:
> HOWEVER, this whole discussion seems to rest on the questionable statement
> that everyone bidding knows what a given item is "worth" (excluding the
> obvious/trite argument that something is worth what someone is willing to
> pay.)
Trite? Hardly. It's the one true definition of fair value. How dare
you :)
> As a simple example, look at what the Jan/Feb 1975 issues of Popular
> Electronics are bringing now (about $80) as opposed to a year or so ago
> (about $300) when they were considered *rare*. Are the people who bought a
> year ago more (or less) "right" than those that bought today?
> <philosophical discussion mode off>
There's a simple explanation for all this: people are lame. They'll pay
excessive amounts of money for objects that they deem to be precious.
Then those items will cease to be precious at some point, people will be
willing to pay less, and we will laugh at them.
Sellam Ismail Vintage Computer Festival
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International Man of Intrigue and Danger
http://www.vintage.org
Received on Wed Dec 20 2000 - 01:32:55 GMT