[Sooner]

I came across this car this morning while getting an estimate for repairs due to an errant deer...

For sale in West Virginia - Saturn Sky Forums: Saturn Sky Forum

 

[Seltzinator]

New Cars, Used Cars - Find Cars at AutoTrader.com

 

[twowheeladdict]

Hope that dealer is not firm on that price. Whew! Hope they didn't get taken at the auction and are just seeing who might be on the line.

 

[Sting Ya]

Just goes to show you how much are cars are worth!

 

[twowheeladdict]

Just goes to show you how much are cars are worth!

Selling price is an indication of worth. Not asking price. I negotiated 25% off asking price when I bought my Solstice this past August.

 

[mcpigm01]

When I purchased my first one, they were asking 18900, I paid 11,500. My current one, I paid 12,200 and they were asking 16,400. I wouldn't say our cars are worth a whole lot by comparison to most other cars on the road of comparable year, and body style. It's just people ask 4k above book value even though it's not worth it for some unknown reason. Just because something is arguably rare, that doesn't mean it's valuable. Rarity doesn't necessarily equal value. A car is only worth what someone is willing to pay.

 

[Seltzinator]

When I purchased my first one, they were asking 18900, I paid 11,500. My current one, I paid 12,200 and they were asking 16,400. I wouldn't say our cars are worth a whole lot by comparison to most other cars on the road of comparable year, and body style. It's just people ask 4k above book value even though it's not worth it for some unknown reason. Just because something is arguably rare, that doesn't mean it's valuable. Rarity doesn't necessarily equal value. A car is only worth what someone is willing to pay.

To build on this: scarcity adds value, not rarity.

Scarcity means that the number of cars demanded at the current price is higher than the number of cars available. In a free market, this increases the price to the point where the number of cars available and demanded are roughly the same.

Many things which are rare are also scarce: diamonds, moon rocks, mint-condition '77 Corvette Stingrays. Some things are rare but not scarce: radioactive topsoil, serial killers, '77 Ford Pintos.

The key is that for something to be scarce (and thus more valuable), the amount demanded must exceed the available supply.

In the case of Kappas: they are rare, but there is not much demand for them. Will this change in the future? Maybe. But for now, we can enjoy being elitists on the cheap.

#unwantedeconomicslesson