Quoth Monterey Jack
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Why even bother asking my advice?
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Buy a car, drive off the lot, immediately drive back on, and watch as the salesman says with a straight face it's only worth 40% of what you just bought it off him for.
And that's why consumer goods are not investments.- They say nothing good happens at 2AM, they're right, I happen at 2AM.
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Well, it's actually worth about 80% of what you paid.
They'll only pay you 40%...
(My wife and I have two cars that are actually worth much more now than when we bought them. But we didn't buy them with that expectation, we merely lucked out with where in the depreciation curve we bought them.)“There are two novels that can change a bookish fourteen-year old’s life: The Lord of the Rings and Atlas Shrugged.
One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world.
The other, of course, involves orcs." -- John Rogers
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Reminds me of those idiots on Pawn Stars who, after the expert of the week says their rare thingie is worth $5000, will IMMEDIATELY ask the store owner for $5000.
That is NOT how secondary markets work!
You see Mr. Store Owner has to not only buy the thing from you, he then has to put in the time and effort necessary to resell it (while paying to house it in the store in the meantime) AND leave enough wiggle room for some profit himself.
Obviously there's a great disparity in used goods prices but I find a good general rule is that one should NEVER go into a pawn shop or second hand store expecting to get more than 50% of what you paid for it at the absolute most.
You want more? Do the legwork and sell it yourself!"If we refund your money, give you a free replacement and shoot the manager, then will you be happy?" - sign seen in a restaurant
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I'm almost afraid to get my beloved late aunt's wedding ring appraised. Her equally late husband was a gambler and was well known as a thief, so it wouldn't surprise me one bit that if I did have it appraised I'd find that it's costume jewelry. The ring means a lot to me because I loved the aunt who wore it, but aside from that, it's probably worthless.
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Quoth Sparklyturtle View PostHer equally late husband was a gambler and was well known as a thief.
Honestly, if you love it and have no plans to sell it, there is no reason to worry about the value. If you love it and think that its worth insuring, then you need an appraisal.
My wedding ring was less than 700 when we bought it. I'm sure that its only worth maybe 300 now. Certainly not worth insuring, especially considering that the value to me is all sentimental. Money can't replace my ring!
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Quoth Argus View PostThe way I heard it "$1000 less"...“There are two novels that can change a bookish fourteen-year old’s life: The Lord of the Rings and Atlas Shrugged.
One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world.
The other, of course, involves orcs." -- John Rogers
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The best value is on good condition 10 or so year old cars, they can hold value based on how well they're maintained and can be sold for little loss if not a tiny profit, when you buy one new, it's almost impossible to recoup that initial depreciation unless you plan to hold on to it for 50 years and it turns out to be a classic.- They say nothing good happens at 2AM, they're right, I happen at 2AM.
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