Wednesday, September 10, 2008

Sunk-Cost

http://www.getrichslowly.org/blog/2008/09/08/the-sunk-cost-fallacy-good-money-after-bad/
Has a sunk-cost article that makes me think about our recent attempts to
sell excess stuff.

It's really hard to put prices on some things. I know what it cost new.
I know what we paid for it. And it's HARD for me to accept less than I
think we "should" get. So I lower it /a little bit/. And then I get
really pissed at all the low-ball offers I get. $15 for that baby swing?
Are you kidding me? $75 for my exercise equipment?

The thing that really made me think about this article is the point that
it's important to only base decisions on what something is worth now. It
doesn't matter what you paid for it. If it's not worth anything to you
right now, then it doesn't matter what you get for it. If it's taking up
space that you NEED, then it's more important to get rid of it than make
all the money you can.

Something to think about, anyway.

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