What is the point of the "Buyer's Premium"?

[steve B]

Originally Posted by raulus

It's all in the psychology of being a human. Smaller numbers feel less expensive than bigger numbers, even though they're the same amount in the end.

As mentioned by others earlier, it's no different than why retailers charge $0.99 instead of a dollar. It feels like it's less psychologically, even though we all know that it's really just $1.00.

And no different than why the gas station adds $0.009 to the price of your gas by sneaking it in there at the end of the price with a small 9 that is 3 decimal places out, rather than just rounding up to a full penny.

From what I've been told, there's also an odd thing where people associate an odd number with a bargain. Supposedly a test was done with identical items placed next to each other. One marked 99 cents, the other marked either 98 or 96 cents. The 99 cent ones always sold out first.

[raulus]

Originally Posted by steve B

From what I've been told, there's also an odd thing where people associate an odd number with a bargain. Supposedly a test was done with identical items placed next to each other. One marked 99 cents, the other marked either 98 or 96 cents. The 99 cent ones always sold out first.

Awesome. Embrace the illogic!