Primarily Petroliana Shop Talk Forums Shop Talk Petroliana Forums General Petroliana Discussion Value

I wonder if we can have an open, yet polite discussion on exactly how the value of a particular items is arrived at.

I don't mean condition, that's obvious as a percent of damage or distress to an item -vs- it's total value.

What I am asking is, why does one person think they have the only correct valuation of every item they see? I've just seen far too many rude comments based on value, and would enjoy hearing some comments taken away from the context of an argument over a particular item.

I will personally say that while I very much appreciate input and assistance with identification and valuation when I am uneducated, I take every opinion I get and lump it in with whatever else I know and then consider my region and market and determine my own value.

Value is what YOU think its worth and what YOU want to pay..market value is.not when two people battle it out at an auction and drive prices up to create a precieved value.

So if one of those two people is you.. then what? You contradict yourself.

Dave, I don't think people feel they have "the only correct values." I think you vastly misinterpreted the intentions of my posting, which was to help people, then attacked my notion of value (based upon a public sale), and went on to have my thread deleted which could help future owners of similar pieces so you can start your own thread??

I don't get it.

Value is what one man will give and another will take. I don't see how pointing at auction records to get a rough estimate of value is in any way improper or shows "people in the hobby having no idea what they are talking about" as you put it.

Auction records can be all over the place, it is up to a seller to determine what they ask for a piece, their avenue of sale. Flaging peoples informative posts that show records of prices realized is ridiculous.

It seems senior oldgas members like to target the noobies or something? I was harassed after trying to politely point out my opinions on actual value of the sign, which numerous "experts" thought was around $400. Obviously I was correct, and uploaded the price realized which was vastly different than what the consensus on value was to use as future refrence. Somehow me adhering that the price realized was the "value" offended you. It shouldn't be offensive to anyone, for any reason. I put up factual information as a refrence and was shot down yet again. I won't be suprised if this post is deleted aswell....

Value is a matter of prespective. Is a one of a kind Picassco worth $1 million, $15 million, $50 million? It would be worth practically nothing to me, I don't collect Picassco.

Auction estimate (accepted value by the art community) might be $1-2 million in a retail gallery, yet the piece goes for $45 million because it's rare and people want it... what is the value? Very subjective.

You are right.....sometimes one of those two people will have a set limit on what they feel comfortable with.... but sometimes at auctions its about ego and people will over pay just to say they got it and look like the winner...I rarely buy at live auction just for that reason. If a price is driven up by two people does it mean the rest of the market will pay that price? If a Texaco fire cheif pump plate is bid up to $500 is it really worth that price in the general market?

No Fishwacker, I didn't have your post deleted and I have no idea why you think that. I did notify an admin (as they request you do) that some people had posted rather rudely in my personal opinion towards you.

I believe you are attributing that same post I reported to me as the poster, of which I am most definitely not.

I did post a reply on your thread which essentially defended you and pointed out that I thought you were correct and that "value" is often misinterpreted. Then the thread was deleted. Then I had the idea to see if there could be a fair and open discussion about value, so I started this thread.

I would prefer it to not be a continuation of your thread please.

Dave, I can admit when I'm wrong and obviously was wrong here, I apologize. The notion of how value is derived on anything is a very interesting topic. A great example of this is how people price things at a garage sale. I also collect pocket watches, antique fishing gear etc, uncommon things most people are unfamiliar with. Someone might think "oh" that's trash for a nice split bamboo rod for example and price it for $5 or $10 that I would happily pay hundreds of dollars for elsewhere in a retail market.
Supply, demand, education, proper marketing, are all factors.

You are correct, I was upset with a senior member that had thousands of posts and with it so quickly deleted accidently identified you as that person.

Dave i sent u a pm. Thanks, adam

Sometimes you guys take this way too serious.

This topic can get ugly quick, so I'm gonna get mine in early!

A new member had purchased a pump, and asked the value, because they wanted to be sure that they didnt pay too much. I replied with "If you got it for $xxx.oo, you did good". Somebody, an "intermediate" MEMEBER, (AND YES, THAT IS MY OWN RATING) had replied with, "I'd buy them all day at $xxx.00"...

That memeber, never made an attempt, when I had the same pump for sale at that price...

TOO many times, people have offered an opinion, only to be blasted! Too many times, "Pickers" ( and this is likely to get me on probation AGAIN" buy something, THEN ask for a value. Only to offer it for sale here, and/or argue the estimate.

It is my opinion, that the "Value" forum be eliminated, and that Oldgas goes back to the guidelines that I agreed to, which stated that its inappropriate, to ask for a value...

Again, let me state, FOR THE RECORD, the "value" forum, NEEDS TO BE ELIMINATED!!! Then these type of posts wont come up anymore.

Welcome back Thunder-pants!! Good to hear from you again!

Value - relative worth, merit, or importance

These three descriptors in one definition of value kind of sum up the arguments.

Relative worth - meaning a relation to something else, or intrinsic value(like a precious metal).

Merit - Quality compared to all others known

Importance - To an individual - their desire to possess
In relation to a class - rarity in comparison to all other options. Thus compare a Rembrandt to a Starving Artist painting.

Books can give you ideas on relative worth, auction results, insurance replacement tables.

Merit based on others seen, is it better, average, worse? If it's better than what is usually found available then higher, otherwise it's average or lower in value.

Importance is the most subjective definition because it comes down to the individual to decide. Does it complete or enhance a collection? Is it an investment seen to have future greater value ? Is the amount secondary to the desire to have ownership.

Value is an idea which has always been argued and always will be as long as one person possesses something that someone else is willing to give up something to get that something.

My 10 sheep are worth 1 camel, my 5 dollars are worth 100,000 Rial(Iranian currency).

It really comes down to what someone finally agrees to receive in exchange for that thing they've got. Some are willing to wait years to get their price, while others happily exchange future opportunity for present surety. A value set today is ethereal until some future point when an exchange occurs, then the value bar is either affirmed, lowered, or raised and once again becomes ethereal.

When i ask a fellow collector/ picker/ dealer a value i ask what its wide open retail is. I tell ask them to honestly tell me what its worth and what they will give me for it and tell them that i know those two numbers are not going to be the same. If someone wants me to value an item before they purchase it i tell them its worth for example wide open retail 500 dollars you should give no more than 300 and i would give you 400$. Keep in mind that i like a deal so dont get angry.