Super Moderator
One of the key components which hasn’t been discussed here is the difference between sale price and market value. They are not the same thing. Sale price is the amount a willing buyer and willing seller have agreed upon whereas market value is the amount typical buyers will likely pay for an item. Having said that, there are many times the two amounts are the same. But there are also times when they are not the same and, in those instances, it is possible that an outlier has been established.
If you refer back to @lipripper660’s example, the gent who paid $100k for the car paid far more than what other buyers were willing to pay. The sale price for that particular car was $100k but most buyers (ie typical buyers) are only willing to pay around $50k. For the gent who paid $100k, that is what the car was worth to the individual…maybe they have some sentimental reason for buying the particular model/year/etc. In other words, the gent who paid twice as much as most buyers would pay likely had a much different motivation for buying the car. However, the market value is $50k based on the comments that state “there was really only one buyer at that price and the price goes back to $50k.”
For a BBS-1, it would appear based on the comments in this thread that the “typical” buyer is a collector. In order to determine the market value of a BBS-1, then it is necessary to have prior sales of the product in order to do a comparative analysis. Ideally, there would be sufficient sales data to analyze. Elements which would likely be considered in the analysis would be the serial #, the overall condition, date of sale (ie was it before or after the announcement that the BBS-1 would be discontinued), the motivation of the buyer and seller, and the current supply/demand of a BBS-1. If most BBS-1s sell between $1,000 and $1,500 but the current listing on the BST actually sells for $2,000, then it’s possible (and perhaps even likely) the sale price of $2,000 represents the worth to an individual and would then establish an outlier.
FWIW, I personally believe a Seller should be allowed to ask whatever price they want. However, I do wish there was a polite/non-negative method to let buyers know that the asking price may be higher than what was offered in the past. The reason for this is so that a buyer simply knows what they are getting into. Using the car example, if the buyer paid $100k but was a misinformed buyer, then the buyer may never recoup his investment. And I understand the argument that a buyer should be informed prior to making a purchase. But, with all due respect to that argument, there are many “fanboy” comments regarding various products and it can be difficult for a buyer to truly know the “value” of an item. I also understand there will likely never be a way to “politely” inform the market as human behavior plays a major role in this scenario and if someone feels they are being called out for “over-listing”, they will respond with similar negativity.
If you refer back to @lipripper660’s example, the gent who paid $100k for the car paid far more than what other buyers were willing to pay. The sale price for that particular car was $100k but most buyers (ie typical buyers) are only willing to pay around $50k. For the gent who paid $100k, that is what the car was worth to the individual…maybe they have some sentimental reason for buying the particular model/year/etc. In other words, the gent who paid twice as much as most buyers would pay likely had a much different motivation for buying the car. However, the market value is $50k based on the comments that state “there was really only one buyer at that price and the price goes back to $50k.”
For a BBS-1, it would appear based on the comments in this thread that the “typical” buyer is a collector. In order to determine the market value of a BBS-1, then it is necessary to have prior sales of the product in order to do a comparative analysis. Ideally, there would be sufficient sales data to analyze. Elements which would likely be considered in the analysis would be the serial #, the overall condition, date of sale (ie was it before or after the announcement that the BBS-1 would be discontinued), the motivation of the buyer and seller, and the current supply/demand of a BBS-1. If most BBS-1s sell between $1,000 and $1,500 but the current listing on the BST actually sells for $2,000, then it’s possible (and perhaps even likely) the sale price of $2,000 represents the worth to an individual and would then establish an outlier.
FWIW, I personally believe a Seller should be allowed to ask whatever price they want. However, I do wish there was a polite/non-negative method to let buyers know that the asking price may be higher than what was offered in the past. The reason for this is so that a buyer simply knows what they are getting into. Using the car example, if the buyer paid $100k but was a misinformed buyer, then the buyer may never recoup his investment. And I understand the argument that a buyer should be informed prior to making a purchase. But, with all due respect to that argument, there are many “fanboy” comments regarding various products and it can be difficult for a buyer to truly know the “value” of an item. I also understand there will likely never be a way to “politely” inform the market as human behavior plays a major role in this scenario and if someone feels they are being called out for “over-listing”, they will respond with similar negativity.
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