A tale of supply and demand

C

cremeegg

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A brief story with an economic lesson which I thought might be of interest.

Last year with the enthusiasm of a new hobby I decided there was an out of print book I must have.

I found it for sale on a website with an asking price of €35. I phoned the guy and asked him if he would take €15. He said he would do some research and let me know. Next day he rang me back, called me a crook and roundly abused me for trying to cheat him, he relisted the book for €80.

I put a search on ABE and after some months it came up for sale at Kenny's of Galway, asking price €18. I bought it. Happy.

Yesterday I came across a copy in a secondhand bookshop. I brought it to the till. The guy said, will €3 be ok. Now I have two copies.

Would anyone like to make me an offer for a copy of Díolaim Filíochta le Caoimhghin Ó Góilidhe

Actually, If there is a lesson in economics in there I have no idea what it is.
 
I understand from a relative that stamp collecting is one of the worst hobbies for this type of stuff. If people are foolish and not have enough knowledge some of the prices can be outrageous if you don't know where to look for the realistic rates.
 
Up Rovers said:
I understand from a relative that stamp collecting is one of the worst hobbies for this type of stuff. If people are foolish and not have enough knowledge some of the prices can be outrageous if you don't know where to look for the realistic rates.
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sounds a bit like crypto
 
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