[meteorite-list] The Market Market (not Eric's site).
From: Walter Branch <branchw_at_meteoritecentral.com>
Date: Thu Apr 22 10:00:04 2004 Message-ID: <030401c220a4$c9ebe2c0$84bc5341_at_cc516468a> This is a multi-part message in MIME format. ------=_NextPart_000_0301_01C22083.42758D80 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Everyone, The meteorite market IS in ruin! I had 6 great meteorite specimens go = off auction tonight and I only got $429.00 for my meteorites. The = market is just in ruin (sniff, sniff). But Walter, couldn't it be that since market forces determine the actual = prices of goods, the free market economic system was just telling you = how much your meteorites were worth, regardless of how much you thought = they were worth? No. Those meteorites were worth far more than the final bid price. I = know. Well Walt, could it be that you simply made a bad business decision, an = error in judgment perhaps. When you originally bought the meteorites, = could you have overpaid to begin with, and then you expect everyone else = to do the same? No. I take no responsibility. It's the market. It's the buyers. They = really don't know a good deal when they see one. Besides, they really = don't appreciate meteorites anyway unless they buy expensive ones from = me, which in doing so proves they are knowledgeable and serious about = their collecting. But Walt, might it also be that the US economy and indeed, economies = worldwide are in a recession/depression. People are being laid off by = the thousands. I mean, lets face it, meteorites are a discretionary = expenditure. You can't pay your mortgage with them, you can't eat them = (though there are rumors....), and they won't buy clothes for you kids. = Those things come first, right. No. If people don't pay what I think they are worth then they just = aren't serious collectors and that's what is important. But Walt, you have bid on auctions with a low ball bid and won. By = doing so, aren't you contributing to the market's ruin? No. It's okay for me to buy low and sell (really) high but when others = try to buy low or balk at paying high prices they are just ruining the = market. (sigh) Okay. Well, just try to console yourself with the knowledge that = in a discretionary market, it's buyers who dictate the prices at which = goods are sold, not sellers. The only thing about buyers is, they don't = band together as a group and refuse to pay what they feel are excessive = prices for goods they really don't need but desire. There will always = be a few individual who will be willing to pay excessive prices which = tend to keep prices high for everyone. =20 Hey. You know, I feel better already! -Walter ----------------------------------------------- Walter Branch, Ph.D. Branch Meteorites 322 Stephenson Ave., Suite B Savannah, GA 31405 USA www.branchmeteorites.com ------=_NextPart_000_0301_01C22083.42758D80 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2716.2200" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3DArial size=3D2>Everyone,</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>The meteorite market IS in ruin! = I had 6=20 great meteorite specimens go off auction tonight and I only got $429.00 = for my=20 meteorites. The market is just in ruin (sniff, = sniff).</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><EM><FONT face=3DArial size=3D2>But Walter, couldn't it be that = since market=20 forces determine the actual prices of goods, the free market economic = system was=20 just telling you how much your meteorites were worth, regardless of how = much you=20 thought they were worth?</FONT></EM></DIV> <DIV><EM><FONT face=3DArial size=3D2></FONT></EM> </DIV> <DIV><FONT face=3DArial size=3D2>No. Those meteorites were worth = far more than=20 the final bid price. I know.</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><EM><FONT face=3DArial size=3D2>Well Walt, could it be that you = simply made a=20 bad business decision, an error in judgment perhaps. When you = originally=20 bought the meteorites, could you have overpaid to begin with, and then = you=20 expect everyone else to do the same?</FONT></EM></DIV> <DIV><EM><FONT face=3DArial size=3D2></FONT></EM> </DIV> <DIV><FONT face=3DArial size=3D2>No. I take no = responsibility. It's the=20 market. It's the buyers. They really don't know a good deal = when=20 they see one. Besides, they really don't appreciate = meteorites anyway=20 unless they buy expensive ones from me, which in doing so proves = they are=20 knowledgeable and serious about their collecting.</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><EM>But Walt, might it also be that the = US economy=20 and indeed, economies worldwide are in a recession/depression. = People are=20 being laid off by the thousands. I mean, lets face it, meteorites are a=20 discretionary expenditure. You can't pay your mortgage with them, = you=20 can't eat them (though there are rumors....), and they won't buy clothes = for you=20 kids. Those things come first, right.</EM></FONT></DIV> <DIV><FONT face=3DArial size=3D2><EM></EM></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>No. If people don't pay what I = think they are=20 worth then they just aren't serious collectors and that's what is=20 important.</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><EM>But Walt, you have bid on auctions = with a low=20 ball bid and won. By doing so, aren't you contributing to the = market's=20 ruin?</EM></FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>No. It's okay for me to buy low = and sell=20 (really) high but when others try to buy low or balk at paying high = prices=20 they are just ruining the market.</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><EM>(sigh) Okay. Well, just try = to console=20 yourself with the knowledge that in a discretionary market, = it's buyers who=20 dictate the prices at which goods are sold, not sellers. The only = thing=20 about buyers is, they don't band together as a group and refuse to = pay what=20 they feel are excessive prices for goods they really don't need but=20 desire. There will always be a few individual who will be willing = to pay=20 excessive prices which tend to keep prices high for=20 everyone. </EM></FONT></DIV> <DIV><FONT face=3DArial size=3D2><EM></EM></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>Hey. You know, I feel better=20 already!</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>-Walter</DIV> <DIV><BR>-----------------------------------------------<BR>Walter = Branch,=20 Ph.D.<BR>Branch Meteorites<BR>322 Stephenson Ave., Suite B<BR>Savannah, = GA =20 31405 USA<BR><A=20 href=3D"http://www.branchmeteorites.com">www.branchmeteorites.com</A></FO= NT></DIV></BODY></HTML> ------=_NextPart_000_0301_01C22083.42758D80-- Received on Sun 30 Jun 2002 10:12:44 PM PDT |
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