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(MSNBC) Interesting New study says that people tend to overestimate what others are willing to pay. In other news, Baltimore Orioles announce lower season ticket prices   (bottomline.msnbc.msn.com) divider line 10
More: Interesting, Journal of Consumer Research, wikis, consumer researches, Linda Carroll, Yale School of Management, Baltimore Orioles, teddy bears  
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659 clicks; posted to Business » on 12 Jan 2012 at 11:21 AM   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»   |    Get this fabulous T-Shirt and impress the methane out of your friends! shirt it!



10 Comments   (+0 »)
   
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2012-01-12 11:38:11 AM
This study was conducted at the Craigslist Institute for Used Computers.
 
2012-01-12 11:42:11 AM
24.media.tumblr.com

No.
 
2012-01-12 11:53:11 AM
I will not overpay for your house just because you overpaid. Suck it.
 
2012-01-12 11:57:15 AM
I always underestimate what people are willing to pay for things, actually. The amount of money that the average American will spend on things that I don't even want continues to confound me.
 
2012-01-12 01:23:11 PM
Storage Wars (a guilty pleasure, I just enjoy seeing what people are willing to lose to avoid storage fees) has this in abundance.

Stuff like $400 for a leather sofa and loveseat set. A new set, comparable to that storage locker leftover, would probably go for $500. And just because something is still new with the price tag on it, doesn't mean you'll get that amount.

Favourite was that Mark Vellajo guido douche who thought a broken NES was worth $10K.
 
2012-01-12 03:40:58 PM
I don't know if any of y'all watch "What's My Car Worth" on Velocity, but you see this A LOT on that show. I saw one last night where the guy thought his 1970 GTO Judge (44 original miles) was going to sell for $180,000. The auction house estimate wasn't far off of that. The expert predicted $135,000. I guessed it would sell for $120,000. Bidding stalled out at $105,000. Amazingly, the guy lifted the reserve and the thing hammered at $105,000.
 
2012-01-12 03:54:51 PM
baorao: This study was conducted at the Craigslist Institute for Used Computers.

and motorcycles.


yes, your 250cc 1985 Honda rebel that's been sitting idle for 5 years, with no registration or safety sticker is work $2,000, let me get my checkbook
 
2012-01-12 05:18:23 PM
Nexzus: Stuff like $400 for a leather sofa and loveseat set. A new set, comparable to that storage locker leftover, would probably go for $500. And just because something is still new with the price tag on it, doesn't mean you'll get that amount.

If you've got no place to put it, you're wasting a lot of money if the storage time starts stretching from months to years. Why they don't sell it on ebay or craigslist and let the storage locker go I don't know.
 
2012-01-12 07:34:12 PM
I got a buddy wants me to help him sell his car. He says "it's worth 5k but I'll take 4".

I found one for under $2k in like 2 minutes.
 
2012-01-13 01:25:12 PM
In the case of the Jelly Bellies, for example, students, on average, said they'd be willing to fork over $4. In contrast, they estimated that other students would be willing to pay $7.30.

Study is flawed, a pound of jelly bellies is $6-8.
 
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