Worth and Value?

RichieO

Times are hard for some folk, some are selling stuff to help survive. So how do you determine the true value of an item? It really doesn't matter what it is, the the rules will be the same. I came up with this:

What's it worth? What is it's true value?
Is it related to what you paid?
Well, No!
The true value lies midway between what
some-one is prepared to pay and what you
are prepared to accept, but you still may
not get it, so be prepared to compromise...

But I am interested in other people's views, any advice?

Agricola

In true capitalist speak, an item is worth as much as you can get for it!

old boy

and a bargain is only a bargain to the buyer.

grenache

It's whatever the market can hold. If several people are not willing to pay your asking price, then its probably worth considerably less than what you value it at.

Rabies

Is this what happened the housing market?

Should we expect the same from garage sales now?

RichieO

Hi Rabies, good question but:

Property market is somewhat different from selling an household item.
In the past, buying a property virtually guaranteed a profit or a good investment, but once the market slides, no one is sure where it will stop,
so it's possible to end up in negative equity, meaning you can't get your money back, let alone make a profit, so everyone waits and waits so prices keep dropping... The fact that loans are hard to get only adds to the slide..

Can you make Garage sales clearer, do you mean cars or people selling stuff from their garage?

thee glitz

As a seller, the value of something is the maximum of what
someone will pay you for it and the lowest you would accept for it.

Mr Benevolent

OP I think you'd be better off asking this in Economics.