Making unrealistic expectations for money....

dereksbicycles

dereksbicycles

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Few examples:

1. A person knows that their old beater will sell for only $1000. They need $2000. Therefore, they put their beater up for sale for $2000. Don't bother selling it for $1000 because $1000 won't get them anywhere.

2. They know their bike may be worth only $25. They put it up for sale for $75 because they need $75. They should be selling it for $25 because that is what it's going for. They cannot do anything with $25 so they won't sell it for $25.

3. They bought an old tractor for $2500 2 months ago. THey know it's worth $1500 now. No way they'll get more than $1500 for it. They ask for $2500 because that is what they paid for it. They won't admit that they made a mistake and over paid for it. No one will care what the seller paid for an item.

I'm not telling anyone to go out sell your $75 bike for $25 or your $2000 car for $1000. I just hate it when people make unrealistic expectations just because they need the money or that is what they paid.

Do you hate it when people do those kind of things?
 
Hate? No. It might be annoying or disappointing but certainly not worth any hate or strong emotion.
 
Seems to me that a lot of people are out to make the buck these days....gotta be business savvy if you're in the buy/sell business. If I know something for sale is actually worth less, I would make my offer (a fair one). If the seller refused it...then it would depend on how badly I wanted the item....then, again I would try to chip off a few bucks...and if the Seller still refused, well I'm not gonna hate him...Just be disappointed....and walk off.
 
It is annoying. They are not recognizing something called sunk costs. The money they spent is already gone. Making decisions based mostly on what you've already spent is not wise.

I also find it amusing when I am at a yard sale and something is really overpriced, and when I ask them to go down, they say, "I can't go down, I paid XXX for it."
I want to say, "So you overpaid. That's not my problem." But I don't. I just smile and walk away.

If you need 75.00 it makes more sense to sell three things worth 25.00 than to waste time listing one item that is only worth 25.00 and trying to sell it for 75.00.
 
It is human nature to make as much money as you can.

It is also human nature to save as much money as you can, hence the negotiating begins.
 
I believe PT Barnum said "There is a sucker born every minute" or something along those lines.
 
They should just consider that the difference in cost is for the benefit they got by owning the car/bike/tractor.

I bought a crappy car for £400GBP, used it every day for two years, then sold it for... £350GBP. I was happy with that!
 
It's annoying, yes, and I think we feel so because we are disappointed in losing out on the deal. Obviously we had some interest in the object and when the price is on higher end from our calculations and expectations, we feel bad. But that is not just for someone tagging some used item with unfair price, but even for those "new" items out there we know are priced way beyond their worth. So basically, it is anything we know we would love to have but cannot because they are unfairly priced, be it in yard sale or be it in a swanky new showroom.

Greed and Fear are two key emotions that influence us. Greed of getting more out of the deal, and Fear - of losing too much money comparing what they bought it for.

Of course people have to realize there is something called depreciation and that the time spent owning/using something diminishes it monetary worth (though, not in all cases).
 
This is human nature and because there is a fool born every minute people get away with it.

I'm having the same problem house hunting...
 
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