----- Original Message -----
Sent: Sunday, June 30, 2002 9:12 PM
Subject: [meteorite-list] The Market
Market (not Eric's site).
Everyone,
The meteorite market IS in ruin! I had 6
great meteorite specimens go off auction tonight and I only got $429.00 for my
meteorites. The market is just in ruin (sniff, sniff).
But Walter, couldn't it be that since market
forces determine the actual prices of goods, the free market economic system
was just telling you how much your meteorites were worth, regardless of how
much you thought they were worth?
No. Those meteorites were worth far more
than the final bid price. I know.
Well Walt, could it be that you simply made a
bad business decision, an error in judgment perhaps. When you originally
bought the meteorites, could you have overpaid to begin with, and then you
expect everyone else to do the same?
No. I take no responsibility. It's
the market. It's the buyers. They really don't know a good deal
when they see one. Besides, they really don't appreciate meteorites
anyway unless they buy expensive ones from me, which in doing so proves
they are knowledgeable and serious about their collecting.
But Walt, might it also be that the US
economy and indeed, economies worldwide are in a recession/depression.
People are being laid off by the thousands. I mean, lets face it, meteorites
are a discretionary expenditure. You can't pay your mortgage with them,
you can't eat them (though there are rumors....), and they won't buy clothes
for you kids. Those things come first, right.
No. If people don't pay what I think they
are worth then they just aren't serious collectors and that's what is
important.
But Walt, you have bid on auctions with a low
ball bid and won. By doing so, aren't you contributing to the market's
ruin?
No. It's okay for me to buy low and sell
(really) high but when others try to buy low or balk at paying high
prices they are just ruining the market.
(sigh) Okay. Well, just try to console
yourself with the knowledge that in a discretionary market, it's buyers
who dictate the prices at which goods are sold, not sellers. The only
thing about buyers is, they don't band together as a group and refuse to
pay what they feel are excessive prices for goods they really don't need but
desire. There will always be a few individual who will be willing to pay
excessive prices which tend to keep prices high for
everyone.
Hey. You know, I feel better
already!
-Walter
-----------------------------------------------
Walter Branch,
Ph.D.
Branch Meteorites
322 Stephenson Ave., Suite B
Savannah,
GA 31405 USA
www.branchmeteorites.com
