Re: Over priced - says who


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Posted by Paul Cook in Kempner, TX [12.213.80.54] on Sunday, September 06, 2009 at 23:09:02 :

In Reply to: Re: Over priced - says who posted by Paul ( in NY) [12.64.180.26] on Sunday, September 06, 2009 at 17:32:44 :

"Value is typically the price that a similar item has sold for in the past."

The reported manipulation of collector car selling prices by a major auction house where cars were "sold" to someone affiliated with the auctioneers to establish an inflated fiscal history would be referred to as "price fixing" and not "value fixing".

Those "several knowledgeable individuals who have no vested interest in the item" are called appraisers. They set the value of WHAT YOU SHOULD GET.

You are correct when you say that prices vary according to market issues. Price is WHAT YOU GET - regardless of value.

I know you have sold something for a price greater than its value, and I know you have sold something for a price lower than its value.

The price is not necessarily the value, and my M37 is not a Jeep.

If I said you were anti-SEMANTIC, would you assure me you had Jewish friends?



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