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Old Yesterday, 09:27 PM   #2841
xjx388
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Originally Posted by Gaetan View Post
For the same quality you take the lower price
This is trivially true, but not always true. If Store A has a good for $100 and Store B has the exact same good for $75, of course I will buy from Store B. But if I come across a guy in the street who has seemingly the same good for $10, well...I have a lot of reasons to avoid that guy; the good is stolen, it’s of inferior quality, it’s used, etc etc.

I wouldn’t buy a supposedly genuine Louis Vuitton bag for $10. I wouldn’t buy a $500 Ferrari. There are too many risks involved. The lowest price is not always the only factor to consider.

Why is a LV leather bag $3000 and a Michael Kors leather bag $300? I would argue they are of similar quality. The LV bag is certainly not 10 times better quality. People pay for things other than quality.



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Old Today, 02:43 AM   #2842
Gaetan
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Originally Posted by xjx388 View Post
This is trivially true, but not always true. If Store A has a good for $100 and Store B has the exact same good for $75, of course I will buy from Store B. But if I come across a guy in the street who has seemingly the same good for $10, well...I have a lot of reasons to avoid that guy; the good is stolen, it’s of inferior quality, it’s used, etc etc.

I wouldn’t buy a supposedly genuine Louis Vuitton bag for $10. I wouldn’t buy a $500 Ferrari. There are too many risks involved. The lowest price is not always the only factor to consider.

Why is a LV leather bag $3000 and a Michael Kors leather bag $300? I would argue they are of similar quality. The LV bag is certainly not 10 times better quality. People pay for things other than quality.



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You have an offer for a Ferrari at 100,000$ and another one for free, which one will you take? People always take the cheapest.

Last edited by Gaetan; Today at 02:44 AM.
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Old Today, 03:46 AM   #2843
fagin
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Firstly, the only place you'll see a free Ferrari is in your little fantasy world.

Secondly, no. A cheap Ferrari will end up being a stupidly expensive Ferrari, once you've sorted out everything wrong with it.

As a person who runs an old MG, and an even older Porsche as my daily drivers, trust me, I know.
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Old Today, 06:29 AM   #2844
RoboTimbo
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Originally Posted by Gaetan View Post
You have an offer for a Ferrari at 100,000$ and another one for free, which one will you take? People always take the cheapest.
Are there free Ferraris for the taking? If not, why not?

Isn't it your plan to make them all free?
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Old Today, 09:01 AM   #2845
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Originally Posted by Gaetan View Post
You have an offer for a Ferrari at 100,000$ and another one for free, which one will you take? People always take the cheapest.
Are you saying that people would take things if they were free without working for them?
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Old Today, 01:11 PM   #2846
Leftus
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Originally Posted by Gaetan View Post
You have an offer for a Ferrari at 100,000$ and another one for free, which one will you take? People always take the cheapest.
Oh, I'd take the 100K one in a heartbeat. The zero dollar one is going to cost more than 100K to get running. Anything that below market is someone trying to unload a problem, not do you a favor. Not that 100K is a bargain, since even that would be below market.

Reverse the question, which one would you give away for free? The one that doesn't run, or the one working perfectly?

Last edited by Leftus; Today at 01:15 PM.
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