Think back to something expensive you bought two years ago. Okay, ready?
Now think about the term “temporary ownership”. Does it sound good, or bad?
Was yesterday’s expensive purchase a great economic choice?
That’s the concept behind the book “Future Shop: How the New Auction Culture will Revolutionize the Way We Buy, Sell, and Get Things We Really Want”. In it the author gives examples of his own previous purchases. In it he writes that every year these “expensive” purchases drop in value. But, thanks to alternative markets (like eBay), now we can potentially regain some of our expenses if we sell at the right time.
This means we can “buy up” because we know we can sell it again down the line. Or, we can purchase slightly used items of a much higher value than we could normally afford. Cool! This book really gets you thinking about what you own, why you own it, and how much you can “get for it”.
Personal example: Two years ago I bought a fancy digital camera. It was a Serious Camera — had a bunch of crazy settings and attachments. Now, I’ve never been a Serious Photographer. (Once I had gig at the Emmys, but, only because someone else was sick. Sounds better than it really was!)
Here’s the thing: I hate carrying the Serious Camera. It makes me feel, well, Seriously Pretentious.
So, I never use the camera. I gave it to my boyfriend. He never uses it either. So could I sell it before it becomes obsolete? I think there’s a good chance I could find a buyer and get some of my money back.
What do you own that could be sold online today, but probably also has a financial “shelf life”? Do you ever buy “up” on eBay, or use eBay to regain some of your losses?
March 28th, 2008 at 11:07 pm
So… I sold a “serious” camera once… didn’t make enough back on it, should’ve kept it. I have since purchased and continue to own two serious cameras… I think the back up is a good thing. Don’t sell the camera…
but as for other things, I think this is a fascinating slant. I’ll have to peruse our belongings and touch back. Do you think there’s a market for ColecoVision, or is it maybe past it’s prime?