I have attended various auctions since 1953 when I was seven, where at a farm auction I bought a kerosine lantern for $0.50.
In NH, 1971, I bought a beautiful wood heating stove for $25, which had a hole drilled in the bottom for installation of a natural gas burner. It was practically brand new, it never had a wood fire in it. After I paid for it, they found the top with a perfect chrome ornament, and I bought a load of dry firewood for $5. Of course I easily plugged the hole, used it for 8 years and sold it for $250 when I moved south.
What a bargain you got, those are definitely good buys. No doubt you can get those kind of bargains, but that doesn't take away from what I'm saying, that the brain has an innate behaviour that can lead us to overpay if we don't know how to control our impulses and decide wrongly.
It depends on the market and the setting.
I have attended various auctions since 1953 when I was seven, where at a farm auction I bought a kerosine lantern for $0.50.
In NH, 1971, I bought a beautiful wood heating stove for $25, which had a hole drilled in the bottom for installation of a natural gas burner. It was practically brand new, it never had a wood fire in it. After I paid for it, they found the top with a perfect chrome ornament, and I bought a load of dry firewood for $5. Of course I easily plugged the hole, used it for 8 years and sold it for $250 when I moved south.
Hello Malcom! :)
What a bargain you got, those are definitely good buys. No doubt you can get those kind of bargains, but that doesn't take away from what I'm saying, that the brain has an innate behaviour that can lead us to overpay if we don't know how to control our impulses and decide wrongly.
Yes, it is a common impulse.