[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>

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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

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<DIV><FONT face=3DArial size=3D2>Everyone,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2>The meteorite market IS in ruin!&nbsp; =
I had 6=20
great meteorite specimens go off auction tonight and I only got $429.00 =
for my=20
meteorites.&nbsp; The market is just in ruin (sniff, =
sniff).</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</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>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2>No.&nbsp; Those meteorites were worth =
far more than=20
the final bid price.&nbsp; I know.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</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.&nbsp; 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>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2>No.&nbsp; I take no =
responsibility.&nbsp; It's the=20
market.&nbsp; It's the buyers.&nbsp; They really don't know a good deal =
when=20
they see one.&nbsp; Besides, they&nbsp;really don't appreciate =
meteorites anyway=20
unless they buy expensive ones from me, which&nbsp;in doing so proves =
they are=20
knowledgeable and serious about their collecting.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</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.&nbsp; =
People are=20
being laid off by the thousands. I mean, lets face it, meteorites are a=20
discretionary expenditure.&nbsp; 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.&nbsp; Those things come first, right.</EM></FONT></DIV>
<DIV><FONT face=3DArial size=3D2><EM></EM></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2>No.&nbsp; 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>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2><EM>But Walt, you have bid on auctions =
with a low=20
ball bid and won.&nbsp; By doing so, aren't you contributing to the =
market's=20
ruin?</EM></FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2>No.&nbsp; It's okay for me to buy low =
and sell=20
(really) high but when others try to buy low&nbsp;or balk at paying high =
prices=20
they are just ruining the market.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2><EM>(sigh) Okay.&nbsp; Well, just try =
to console=20
yourself with the knowledge that in a discretionary market, =
it's&nbsp;buyers who=20
dictate the prices at which goods are sold, not sellers.&nbsp; The only =
thing=20
about buyers is,&nbsp;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.&nbsp; 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.&nbsp;&nbsp;</EM></FONT></DIV>
<DIV><FONT face=3DArial size=3D2><EM></EM></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2>Hey.&nbsp; You know, I feel better=20
already!</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</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&nbsp;=20
31405 USA<BR><A=20
href=3D"http://www.branchmeteorites.com">www.branchmeteorites.com</A></FO=
NT></DIV></BODY></HTML>

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Received on Sun 30 Jun 2002 10:12:44 PM PDT


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