If someone is willing to buy something for $1 than it’s worth $1. If someone is willing to buy something for $1,000,000 then it’s worth $1,000,000. Even if it’s a single potato chip.
If a company produces a bag for $50 and sells it for $2,000, then the materials and labor were worth $50, while the completed bag, because a single person was willing to buy it for $2k, is worth $2k (even if its only worth that much to that one person).
If all that overhead paying the “leeches” went away and someone was still willing to pay $2k for the bag, guess how much the bag is worth. Hint: $2k.
How do I know? Because, if a thing sells for a price, that’s its price.
On the flip side, if all those leeches drove the price up to $2,001 and no one was willing to spend that much, the bag would not be worth $2,001 and the price would therefore have to fall. If the cost of the “leeches” was keeping the price above what people were willing to pay, the leeches would be fired and the price of the bag would drop, or the company / product will stop existing in its current form.
Are there more people who would buy a Gucci bag for $50 than for $2k? Absolutely, but why the hell would Gucci sell a bag for $50 when people are literally willing to pay $2k.
No one needs a Gucci bag, be it $1 or $1m. Gucci knows this, their customers (hopefully lol) know this, and yet $2k is still the agreed upon price, because it is paid by people willing to pay it.
You contradict yourself immediately in your first sentence. It can’t be both worth 1 and 2000 at the same time. Someone willing to pay a high price does not set that price for others. We are talking about setting fair prices, not just for a single outlier.
Your definition equates to “my wares are worth whatever I can convince someone they are worth.” Is that a fair way to set prices?
That’s where you’re wrong. It’s the frog in hot water thing that’s happening, prices artificially increase to feed the leeches progressively enough that people just accept it.
You’re a victim here and you’re defending it, it’s disgusting.
If someone is willing to buy something for $1 than it’s worth $1. If someone is willing to buy something for $1,000,000 then it’s worth $1,000,000. Even if it’s a single potato chip.
If a company produces a bag for $50 and sells it for $2,000, then the materials and labor were worth $50, while the completed bag, because a single person was willing to buy it for $2k, is worth $2k (even if its only worth that much to that one person).
If all that overhead paying the “leeches” went away and someone was still willing to pay $2k for the bag, guess how much the bag is worth. Hint: $2k.
How do I know? Because, if a thing sells for a price, that’s its price.
On the flip side, if all those leeches drove the price up to $2,001 and no one was willing to spend that much, the bag would not be worth $2,001 and the price would therefore have to fall. If the cost of the “leeches” was keeping the price above what people were willing to pay, the leeches would be fired and the price of the bag would drop, or the company / product will stop existing in its current form.
Are there more people who would buy a Gucci bag for $50 than for $2k? Absolutely, but why the hell would Gucci sell a bag for $50 when people are literally willing to pay $2k.
No one needs a Gucci bag, be it $1 or $1m. Gucci knows this, their customers (hopefully lol) know this, and yet $2k is still the agreed upon price, because it is paid by people willing to pay it.
You contradict yourself immediately in your first sentence. It can’t be both worth 1 and 2000 at the same time. Someone willing to pay a high price does not set that price for others. We are talking about setting fair prices, not just for a single outlier.
Your definition equates to “my wares are worth whatever I can convince someone they are worth.” Is that a fair way to set prices?
That’s where you’re wrong. It’s the frog in hot water thing that’s happening, prices artificially increase to feed the leeches progressively enough that people just accept it.
You’re a victim here and you’re defending it, it’s disgusting.