Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Ancient Coins
>
Bizarre auction prices ...
>
Reply to Thread
Message:
<p>[QUOTE="medoraman, post: 8320514, member: 26302"]Time and place utility has much more value than others ever give it credit for. This is what those who argue how farmers are shortchanged by wheat in a loaf of bread only being 10 cents of the cost of the bread. Consumers do NOT want to buy 10 cents of wheat, they want to buy a fresh loaf of bread conveniently near their home.</p><p><br /></p><p>We are all "suckers" if you believe time and place utility has no value. We all could go to a distributor and buy pallets of products at a time to minimize our costs versus buying one at a time at a store, (even this is not a good analogy, as I know customers who buy 50 truckloads a month get better prices than someone who only buys one truckload a month, and that one truck will be much cheaper than your pallet you bought.</p><p><br /></p><p>Point being, dealers who buy from auctions and others and sell to you later earn their money. They took the risk, bought the inventory, display it to you, allow you at your leisure to buy or not, etc. This can work "backwards" too, with a dealer consigning to a particular auction that has high interest of a set of buyers competing. In that case the auction earned its keep for time and place utility.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 8320514, member: 26302"]Time and place utility has much more value than others ever give it credit for. This is what those who argue how farmers are shortchanged by wheat in a loaf of bread only being 10 cents of the cost of the bread. Consumers do NOT want to buy 10 cents of wheat, they want to buy a fresh loaf of bread conveniently near their home. We are all "suckers" if you believe time and place utility has no value. We all could go to a distributor and buy pallets of products at a time to minimize our costs versus buying one at a time at a store, (even this is not a good analogy, as I know customers who buy 50 truckloads a month get better prices than someone who only buys one truckload a month, and that one truck will be much cheaper than your pallet you bought. Point being, dealers who buy from auctions and others and sell to you later earn their money. They took the risk, bought the inventory, display it to you, allow you at your leisure to buy or not, etc. This can work "backwards" too, with a dealer consigning to a particular auction that has high interest of a set of buyers competing. In that case the auction earned its keep for time and place utility.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Ancient Coins
>
Bizarre auction prices ...
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...