What Does Your Price Tag Say?  A message on Self Worth…

The value of something is based on what someone is willing to pay for it or exchange for it.  Eric and I occasionally like to watch Pawn Stars and Storage Wars.  We also love to go to auctions together to find “treasures”.  We’ve learned a lot about valuation processes.  We often find it amusing on Storage Wars when the cast are making their appraisals of the contents of their storage lockers that they just purchased.

Every so often someone (usually Darrell) will inflate the worth of an item or two, and we say, “It’s not worth that!  There’s NO WAY anyone is going to pay that price for that!”  We also find it entertaining when someone walks into the pawn shop on Pawn Stars asking for some super crazy amount for something that they are trying to sell.  Their asking price is obviously declined.  Then they’ll often say, “Well, online this is selling for x-amount”, and Rick usually replies, “That’s what people are paying or that’s the price they are asking for it?  There’s a difference.”

The point he’s trying to make is that it doesn’t really matter what the list price is or what the label says.  If people aren’t willing to pay the price stated on the label, then it is probably not a correct valuation.

The same is true for us.

Our value or worth is Continue reading →