Originally Posted by
SweetLou
I don't find it so common sense. To me, it might be worth nothing, it might be worth much more. That is the problem with asking "How much is it worth?" There is a correct answer for each person, since each person has their own idea of how much it is worth.
Well, if my $0 is not the correct answer, what is? If I would only pay $3.50 for it, is that not what it is worth to me? Should I not respond with $3.50? How about if I would pay $150 for the object, and I respond "$150", is it then correct? If so, then why is the $150 the correct answer but $3.50 or $0 not? At what price is the correct answer and I should respond?
It is not what it is worth to you, but to an interested party. Clearly if you are answering $3.50 or zilch, you are not an interested party. Your reasoning would say, for example, that the Mona Lisa is worthless because you have no interest in it.
I believe what is trying to be established is akin to a NADA value for cars. Valuation should be based on actual sales over a period of time. Not what one individual is willing to pay. Those valuations can and do get skewed by highs and lows, but over time, they prove pretty accurate.
And I told myself I was going to avoid this forum.