What truly makes a book valuable?

[G.A.tor]

Price discovery, market clearing price leading to market equilibrium , etc are some basic concepts in play, leading to price/value

[BarryAllen]

If value = price, then yes market pricing is set by demand and supply (including all the attributes, factors and circumstances that play into each of them).

 

However, if you are using "value" and "price" interchangeably you will inevitably create unnecessary conversation and swirl. "Value" is an ambiguous term that largely relies on individual standards of measurement; frequently with limited amounts of commonality between parties.

[G.A.tor]

Since the intangible is difficult to macro define, the only logical response is to equate price and value for purposes of useful discourse.

[BarryAllen]

Since the intangible is difficult to macro define, the only logical response is to equate price and value for purposes of useful discourse.

 

Since when do we have "useful" discourse in CG?

 

Also, your posts seem very robotic today...

 

How is the start of Con season?

[StuporMan]

Since the intangible is difficult to macro define, the only logical response is to equate price and value for purposes of useful discourse.

 

This discussion is free and therefore has no value

[G.A.tor]

C2e2 is over. Was a decent con sales wise. Always have fun in Chicago. I got my first bsba in finance and my second bsba in economics ....but that was 30+ years ago. Lucky I can remember any economic theories

[BarryAllen]

C2e2 is over. Was a decent con sales wise. Always have fun in Chicago. I got my first bsba in finance and my second bsba in economics ....but that was 30+ years ago. Lucky I can remember any economic theories

 

Congrats on a good start!

 

I knew about your education, I was just giving you a hard time.

[StuporMan]

To conclude this thread, Stan Lee's signature truly makes a book valuable.

[Ghost Rider]

I would tend to think significance is the main factor for pricing. From a new character, death of a character, new team of characters, etc. Then there are books like TMNT #1. It has more than one thing going for it. New characters, rarity, demand. This book holds a special place in the heart and minds of a lot of collectors/people. Different books can/will mean different things to different people.

 

The new characters really caught on with the public. The supply was a very limited run. Finding a copy in high grade is a pretty tough assignment overall. It all depends on the buyer.

 

If they remember a book from there youth that there father/mother etc. got them. They would most likely pay a little more for the book they remember versus another book in the same price range.

 

Significance, demand, rarity can/will mean different things from one person to the next.

Anything for sale is only worth what someone will pay for it.

[StuporMan]

Significance, demand, rarity can/will mean different things from one person to the next.

Anything for sale is only worth what someone will pay for it.

 

This is why I love auctions

[kav]

What about the guy that bought Action #10 for $200-does that mean it was worth $200?

[StuporMan]

What about the guy that bought Action #10 for $200-does that mean it was worth $200?

 

To someone who equates price to value it does

[kav]

[StuporMan]

 

I guess I should wait for someone with a degree in economics to chime in. Oh wait, I have a PHD in economics.

[kav]

[StuporMan]

(Pimpin' Ho's Degree)

[FlyingDonut]

What about the guy that bought Action #10 for $200-does that mean it was worth $200?

 

Actually no, that would be a pretty clear cut case of someone exploiting a market inefficiency, but that might go over your head.

 

The next sale of the same book, when there was an informed seller and an informed buyer, is a pretty clear cut answer to your question.

[kav]

I was just responding to the statement he made.

Settle down Beavis.

[jaeldubyoo]

What about the guy that bought Action #10 for $200-does that mean it was worth $200?

 

That's all he had to pay. I'm sure he was willing to pay more. It's no different than if you got something for a lot less than its worth.

[FlyingDonut]

And the answer to this question is pretty much econ 101 - supply and demand. All of the other discussion points are functions of demand. Why does a high grade Action 1 have more value than a coverless one? Because there's higher demand and lower supply. The equilibrium point is different.

 

All those other things - significance, rarity, condition, blah blah blah, are functions of the supply and demand curves. The most valuable book in 1971 is now worth - inflation adjusted - less than it was worth in 1971. Why? Demand has fallen through the floor.