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Old 07-25-2024, 12:16 PM
  #107  
Peckish
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Join Date: May 2011
Location: Pacific NW
Posts: 9,602
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Originally Posted by dunster
A machine (or anything else) is worth exactly what someone is willing to pay for it.
Dunster is exactly right - a thing is worth exactly what someone is willing to pay for it.

Since I'm not willing to pay $100 or even $10 for a FW, it's worth nothing to me. If someone else values a FW more than I, she's welcome to it, no skin off my nose and to each her own.

Years ago, my MIL gave my husband and I some framed prints. She told me they were worth at least $300-$400 each. I always wondered about this because she and my late FIL were not well off, and I didn't understand why she didn't sell them instead of giving them away.
I've come to realize that that generation (which also includes my grandmother and my mom) thinks that if they paid a lot for something, then it should be worth at least that, if not more. It doesn't always work that way - those prints she gave us are only worth what someone else is willing to pay us for it.

Having said that, I heard an interesting tidbit this morning on the radio about how Americans are the absolute best at marketing. The host said that he attended a dinner party at a restaurant. The waiter came by and described the specials, one of which was some type of fish, but he only had one, so if someone wanted it, speak up now and he'd check to see if it was still available. Someone else in the group immediately exclaimed "Better get it before it's gone!" This radio host has been active in the restaurant industry and still has a lot of close friends there, and he said it's not really a special, it's simply the last day they can serve that fish before tossing it out. So they market it as "special", which drives up demand.

This is also why Bernina has so many famous and award-winning "brand ambassadors" on social media. I personally think it has more to do with a person's talent and perseverance in their pursuit of skills than the machine, but that's just me.
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