Posted By:
davidcyclebackI agree that part of making profit is minimizing the losses-- selling at a loss but for as little a loss as is possible and/or selling for a loss as quickly as possible.
"My economics professor told me that something is only worth what someone else will pay.'
If the seller turns down all offers deciding instead to keep it, the something is worth more than the highest offer.
For many people, a sale is not determined just by price. Without financial pressures, some people will go through periods where they won't sell anything no matter what the price (within reason of course) and later will go through periods where they sell stuff for rock bottom then will go back to not selling anything. When you knock on their door can be more important than the price you offer. There are many times where I'm not interested in getting out the tape and packaging stuff, so nothing's for sale, or at least the cost is steep to get me to open the tape drawer.