I am confident that was not a 'how much is it worth' post
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cooldad wrote:cee wrote:also....
just because someone is willing to pay x pounds for something....doesn't mean the something is worth that....
thats the subjective bit...which is why I suspect that 'what value' threads are not allowed.
Rubbish. If someone is willing to pay x, that's exactly what it's worth.
nonsense....if I could convince someone to buy a cardboard box for a thousand quid that would make it worth a thousand quid?
Not really.
It happens all the time....antiques etc....
valued at x pounds...but someone really likes it.....they pay more than it is actually worth, because they desire it
It does not increase the intrinsic value of the antique in its own right.
There is of course a difference between intrinsic and tacit value.Whenever I see an adult on a bicycle, I believe in the future of the human race.
H.G. Wells.0 -
cee wrote:cooldad wrote:cee wrote:also....
just because someone is willing to pay x pounds for something....doesn't mean the something is worth that....
thats the subjective bit...which is why I suspect that 'what value' threads are not allowed.
Rubbish. If someone is willing to pay x, that's exactly what it's worth.
nonsense....if I could convince someone to buy a cardboard box for a thousand quid that would make it worth a thousand quid?
Not really.
It happens all the time....antiques etc....
valued at x pounds...but someone really likes it.....they pay more than it is actually worth, because they desire it
It does not increase the intrinsic value of the antique in its own right.
There is of course a difference between intrinsic and tacit value.
So how do you establish what a bike is actually worth? What it's worth in terms of scrap/recycled, the usefulness to someone?0 -
cee wrote:cooldad wrote:cee wrote:also....
just because someone is willing to pay x pounds for something....doesn't mean the something is worth that....
thats the subjective bit...which is why I suspect that 'what value' threads are not allowed.
Rubbish. If someone is willing to pay x, that's exactly what it's worth.
nonsense....if I could convince someone to buy a cardboard box for a thousand quid that would make it worth a thousand quid?
Not really.
It happens all the time....antiques etc....
valued at x pounds...but someone really likes it.....they pay more than it is actually worth, because they desire it
It does not increase the intrinsic value of the antique in its own right.
There is of course a difference between intrinsic and tacit value.
Cee i have to ask mate do you actualy know what depreciation is? and what is used for in these accoutning purposes?
It certainly doesn't actually value an item in anyway what so ever, all it is is a method for reducing the value of an item over the items life time to right it from the balance sheet(roughly the company worth) to the Profit n loss... I depreciate a power station as a 25 year asset in a straightline mana is it wortht he value i say it is in 5 years? NO0 -
People will pay millions for a pile of poo, if it is the right pile of poo.
That is it's value.
If they won't pay that, it is it's price. You may feel it's a high price, but to my myriad of fans, who would kill to buy it, that's the value of it.I don't do smileys.
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London Calling on Facebook
Parktools0 -
well waylander...in that case, we are not technically trying to figure out what the asset is worth....we are trying to work out how much we can avoid writing off of our asset sheet....
there would be no sale...the power station would be decommissioned.
purpose has to be taken into account..your example is an accounting strategy for managing the financial risk and burden of assets which reach the end of their useful life.....not so that it could be sold.
as far as figuring out how much a bike is worth.....there are no accounting purposes. it is to try and work out the sale price to advertise...
I (and appreciate others may/will do it differently)...get a baseline based on what the thing is actually worth....., then decide if its utility to me adds more to that value, to come up with the figure I would be willing to pay....given my circumstances.
I couldn't make the same valuation for you or anyone else.....because I cannot put a value on the utility/desirability/circumstancial aspects for anyone but me.
An interesting comparison would perhaps be companies who buy seconds hand items (bikes/cars/tv's etc), with a view to selling them on at a profit...
Their general rule is to buy for 25% of retail value, tidy them up a bit (read...add value), then sell for about 50% retail value...
thats my opinion....i am happy with it....Whenever I see an adult on a bicycle, I believe in the future of the human race.
H.G. Wells.0 -
Really, I thought depreciation was to write off against income (and hence reduce tax liability).
This has nothing, whatsoever, at all, in the least, to do with market value, which is whatever any imbecile is willing to pay for your poo.I don't do smileys.
There is no secret ingredient - Kung Fu Panda
London Calling on Facebook
Parktools0 -
depreciation is dependent on purpose...
we talk about depreciation of a car as soon as it leaves the show room in a very different context to the way we talk about depreciating stock in a bike shop, to a very different way than we talk about depreciating a long term infrastructure asset, with a limited useful lifespan.
I was answering waylanders question..
clearly we have differing views on the terminilogy of the value of stuff.
I see your example of the imbecile and the poo as the maximum amount that an individual would pay....
I see the fair market value as the mean of what everybody in the market for that commodity would pay.
we are after all talking about selling a bicycle...where both the buyer and seller are likely to negotiate somewhat on the final price....
someone said earlier....depends on the market....he bought something for 650..and sold it for 850...so either he got a fantastic deal on the price he paid....and paid less than its value....or sold it for more than its value....it certainly did not increase in value over the time he owned it! Which by the definition of what someone is willin gto pay...means that it did...
see what i mean?Whenever I see an adult on a bicycle, I believe in the future of the human race.
H.G. Wells.0 -
No, you must lead a very complicated life.
If you are buying or selling something the value of it is what it is bought or sold for.
Value is based on the marginal benefit to the buyer, so value will change depending on the perception of the buyer.
Value is not an absolute.
End of.
My head is hurting.I don't do smileys.
There is no secret ingredient - Kung Fu Panda
London Calling on Facebook
Parktools0 -
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cooldad wrote:No, you must lead a very complicated life.
If you are buying or selling something the value of it is what it is bought or sold for.
Value is based on the marginal benefit to the buyer, so value will change depending on the perception of the buyer.
Value is not an absolute.
End of.
My head is hurting.
My personaly opinion is that this is true. The value of something is what it is worth to the owner / potential owner. Thats why if I sell a brand new Gibson les Paul Id probably get around £1500 for it. If I used it and sold it as 2nd hand Id probably get £1000 however If slash had used it Id probably get £5000 for it. The guitar hasnt changed, its still used but its value has increased substantially even from its purchase cost because someone is willing to pay more.0 -
Hucking Fell wrote:I'd love to be able to poo money, like an ATM
Those £2 coins are quite wide though. Although you'd get more benefit on the bike than usual from the pre-ride dump, coins are heavy.- - - - - - - - - -
On Strava.{/url}0 -
cooldad wrote:No, you must lead a very complicated life.
If you are buying or selling something the value of it is what it is bought or sold for.
Value is based on the marginal benefit to the buyer, so value will change depending on the perception of the buyer.
Value is not an absolute.
End of.
My head is hurting.
OK.
Last question then....
Is it at all possible to pay more than something is worth when buying something?
Its not complicated...my life is simple...I decide how much I am willing to pay for something...then make an offer.
If the seller refuses, because they think its worth more...then I walk away. Their opinion on the value of the item does not change mine.
Agreed....value is not absolute....you and i will have different ideas of what a given item is worth.
Also...head hurting.Whenever I see an adult on a bicycle, I believe in the future of the human race.
H.G. Wells.0 -
It could be dangerous if you poo'd coins like a 'puggy' or fruit machine :shock:DesWeller wrote:Hucking Fell wrote:I'd love to be able to poo money, like an ATM
Those £2 coins are quite wide though. Although you'd get more benefit on the bike than usual from the pre-ride dump, coins are heavy.0
