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Originally Posted by impaul99  For example. I went to your site and I saw you paint and sell paintings. What if you took one of your paintings you normally sell for $4,000 and you put it up for sale for $40,000 instead?
You might think "Nobody will buy it for that price!" but that's your problem, not the buyers. If you put it up for $40,000, and it sells, did the purchaser not purchase a $40,000 for $40,000? How is that different from paying $4,000 for a $4,000 painting?
If I buy that $4k painting from you for $40k, as long as I think it's a $40k painting it WILL be a $40k painting and when someone were to ask me about it I might tell them that it's a $40,000 painting or even higher.
Here's what I'm saying. If someone hypnotized you tonight and made you believe that you earn 10x as much money per year than you actually do right now and you DESERVE to make that much and they also changed all the prices on your site to be 10x more expensive, what would happen?
Something to think about. Perhaps the "perceived value" is not in the eyes of the buyer, but the seller.
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I agree with on this. Value can be perceived independent of perhaps what some might call the value fundamentals of a product. Your example of my paintings for instance is a good one. I wouldn't think one of my paintings is worth anywhere near $40,000, but if I did, then perhaps that confidence would come across in my promotions, and maybe I'd encounter a buyer who is influenced to believe in the value. All the same though; he perceives it to be a $40,000 value.
Value is never an absolute. It is always perception, and I guess my thinking might differ from yours in that I feel there is always a perception of value somewhere in the equation when money is made, however indirect or hidden it may be.
You're on to something here. Excuse me me while I reprice my paintings
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Best,
John
Paintings of British Columbia - John Rocheleau