Same thing in real estate. I've seen houses sale price increased and gone. Often they believe something has been repaired or another part has been located for it.
Originally Posted by
Sewnoma
"Perceived value" is an interesting phenomenon. If it's priced too cheap..."What's wrong with it?"
My DH works in the wine industry - if a winery has some wine that isn't selling well, they often INCREASE the price and that will stimulate sales. That seems so crazy to me! He gets a lot of high priced wine for free (bottles retailing for $100 or more) and it's often not very good at all - I wouldn't pay even $10 for some of it. Maybe I'm just a "cheap date". LOL