drethelin comments on Bargaining and Auctions - Less Wrong

29 Post author: Yvain 15 July 2012 05:01PM

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Comment author: drethelin 19 July 2012 05:59:19AM 2 points [-]

It's really hard to know how much any random person will value a given antique, considering the uniqueness of antiques and people. It's really easy to know how much you paid for a given antique. As a heuristic to keep in mind while bargaining "Always sell for more than what you bought for" seems like it would be helpful, even if in the abstract it doesn't seem like it should be important information.