Darren, Martin and list
Value is personal and subjective. Worth is social and relative.
If I value something am I willing to bid against others who value the same
thing. What I'm willing to bid, against others who value the same "it"
determines what it's worth because I and others who bid objectivize our
value of the object.
Down the road our "values" change and so does worth(I've got an inordinate
amount of Crap which is worthless because it sits unused and unappreciated
and I'm too lazy to try to get rid of[sell] it. But I valued it once to
spend $$$$$$$ to possess it.
No?
Jerry Flaherty
----- Original Message -----
From: "Darren Garrison" <[EMAIL PROTECTED]>
To: "Martin Altmann" <[EMAIL PROTECTED]>
Cc: <Meteorite-list@meteoritecentral.com>
Sent: Wednesday, December 07, 2005 2:29 PM
Subject: Re: [meteorite-list] Total Number of Meteorites?
On Wed, 7 Dec 2005 19:56:35 +0100, "Martin Altmann"
<[EMAIL PROTECTED]> wrote:
I'm not a philosopher,
but both of your definitions mean to me correct definitions for price, not
for value.
Value is what worth "the market" places in an item. As long as there are
people willing to pay x
price, than that item has x value, but if people are willing to pay only
x/5, then you can push the
x price as hard as you want, it will only have a value of x/5 if all people
are only willing to pay
x/5. The fact that the PRICE to produce/recover item Y selling at price x
is much higher than
people are willing to pay for x is unfortunate for the producer/recoverer
but utterly irrelevant to
the value of Y.
Let's look at this example-- realizing the dream of generations of
alchemists, you CAN turn lead
into gold. All you need is the right kind of particle accelerators. The
problem is solved. It has
been done. http://chemistry.about.com/cs/generalchemistry/a/aa050601a.htm
But the only minor
problem is that it would take billions of dollars and hundreds of years (at
least) to get a troy
ounce of manufactured gold to sell. But do you think that, after making
that billion-dollar gram of
gold, someone's going to be willing to pay a billion dollars for it? Or
would they pay only the
current price for any old gram of gold? The PRICE for that gram of gold may
be billions, but the
VALUE is only $520ish (right now).
Just because something has a certain price to make/recover doesn't HAVE to
mean that it will have
that much VALUE to the potential market. As long as there are people
willing to pay thousands a
gram for planetary meteorites, then planetary meteorites will have a value
of thousands of dollars a
gram. But if people stop being willing to pay thousands a gram for
planetary meteorites, then the
value stops being thousands a gram, even if the recovery/seller's purchase
price remains in the
thousands a gram.
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