[meteorite-list] The Market Market (not Eric's site).

From: Bill Mason III <bmason3_at_meteoritecentral.com>
Date: Thu Apr 22 10:00:04 2004
Message-ID: <000b01c220bd$d2616060$0c02a8c0_at_WorkGroup>

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Aaaaaaaaaaaaaa and the light shines and the truth of supply and =
demand,passion and spare cash reveal life and reality. Mason=20
  ----- Original Message -----=20
  From: Walter Branch=20
  To: Meteorite-list_at_meteoritecentral.com=20
  Sent: Sunday, June 30, 2002 7:12 PM
  Subject: [meteorite-list] The Market Market (not Eric's site).


  Everyone,

  The meteorite market IS in ruin! I had 6 great meteorite specimens go =
off auction tonight and I only got $429.00 for my meteorites. The =
market is just in ruin (sniff, sniff).

  But Walter, couldn't it be that since market forces determine the =
actual prices of goods, the free market economic system was just telling =
you how much your meteorites were worth, regardless of how much you =
thought they were worth?

  No. Those meteorites were worth far more than the final bid price. I =
know.

  Well Walt, could it be that you simply made a bad business decision, =
an error in judgment perhaps. When you originally bought the =
meteorites, could you have overpaid to begin with, and then you expect =
everyone else to do the same?

  No. I take no responsibility. It's the market. It's the buyers. =
They really don't know a good deal when they see one. Besides, they =
really don't appreciate meteorites anyway unless they buy expensive ones =
from me, which in doing so proves they are knowledgeable and serious =
about their collecting.

  But Walt, might it also be that the US economy and indeed, economies =
worldwide are in a recession/depression. People are being laid off by =
the thousands. I mean, lets face it, meteorites are a discretionary =
expenditure. You can't pay your mortgage with them, you can't eat them =
(though there are rumors....), and they won't buy clothes for you kids. =
Those things come first, right.

  No. If people don't pay what I think they are worth then they just =
aren't serious collectors and that's what is important.

  But Walt, you have bid on auctions with a low ball bid and won. By =
doing so, aren't you contributing to the market's ruin?

  No. It's okay for me to buy low and sell (really) high but when =
others try to buy low or balk at paying high prices they are just =
ruining the market.

  (sigh) Okay. Well, just try to console yourself with the knowledge =
that in a discretionary market, it's buyers who dictate the prices at =
which goods are sold, not sellers. The only thing about buyers is, they =
don't band together as a group and refuse to pay what they feel are =
excessive prices for goods they really don't need but desire. There =
will always be a few individual who will be willing to pay excessive =
prices which tend to keep prices high for everyone. =20

  Hey. You know, I feel better already!

  -Walter

  -----------------------------------------------
  Walter Branch, Ph.D.
  Branch Meteorites
  322 Stephenson Ave., Suite B
  Savannah, GA 31405 USA
  www.branchmeteorites.com

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<DIV><FONT face=3DArial size=3D2>Aaaaaaaaaaaaaa and the light shines and =
the truth=20
of supply and demand,passion and spare cash reveal life and=20
reality.&nbsp;&nbsp;&nbsp;&nbsp; Mason </FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
  <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV=20
  style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
  <A title=3Dbranchw_at_bellsouth.net =
href=3D"mailto:branchw_at_bellsouth.net">Walter=20
  Branch</A> </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
  title=3DMeteorite-list_at_meteoritecentral.com=20
  =
href=3D"mailto:Meteorite-list_at_meteoritecentral.com">Meteorite-list@meteor=
itecentral.com</A>=20
  </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, June 30, 2002 =
7:12 PM</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [meteorite-list] The =
Market=20
  Market (not Eric's site).</DIV>
  <DIV><BR></DIV>
  <DIV><FONT face=3DArial size=3D2>Everyone,</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2>The meteorite market IS in =
ruin!&nbsp; I had 6=20
  great meteorite specimens go off auction tonight and I only got =
$429.00 for my=20
  meteorites.&nbsp; The market is just in ruin (sniff, =
sniff).</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><EM><FONT face=3DArial size=3D2>But Walter, couldn't it be that =
since market=20
  forces determine the actual prices of goods, the free market economic =
system=20
  was just telling you how much your meteorites were worth, regardless =
of how=20
  much you thought they were worth?</FONT></EM></DIV>
  <DIV><EM><FONT face=3DArial size=3D2></FONT></EM>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2>No.&nbsp; Those meteorites were worth =
far more=20
  than the final bid price.&nbsp; I know.</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><EM><FONT face=3DArial size=3D2>Well Walt, could it be that you =
simply made a=20
  bad business decision, an error in judgment perhaps.&nbsp; When you =
originally=20
  bought the meteorites, could you have overpaid to begin with, and then =
you=20
  expect everyone else to do the same?</FONT></EM></DIV>
  <DIV><EM><FONT face=3DArial size=3D2></FONT></EM>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2>No.&nbsp; I take no =
responsibility.&nbsp; It's=20
  the market.&nbsp; It's the buyers.&nbsp; They really don't know a good =
deal=20
  when they see one.&nbsp; Besides, they&nbsp;really don't appreciate =
meteorites=20
  anyway unless they buy expensive ones from me, which&nbsp;in doing so =
proves=20
  they are knowledgeable and serious about their =
collecting.</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2><EM>But Walt, might it also be that =
the US=20
  economy and indeed, economies worldwide are in a =
recession/depression.&nbsp;=20
  People are being laid off by the thousands. I mean, lets face it, =
meteorites=20
  are a discretionary expenditure.&nbsp; You can't pay your mortgage =
with them,=20
  you can't eat them (though there are rumors....), and they won't buy =
clothes=20
  for you kids.&nbsp; Those things come first, right.</EM></FONT></DIV>
  <DIV><FONT face=3DArial size=3D2><EM></EM></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2>No.&nbsp; If people don't pay what I =
think they=20
  are worth then they just aren't serious collectors and that's what is=20
  important.</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2><EM>But Walt, you have bid on =
auctions with a low=20
  ball bid and won.&nbsp; By doing so, aren't you contributing to the =
market's=20
  ruin?</EM></FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2>No.&nbsp; It's okay for me to buy low =
and sell=20
  (really) high but when others try to buy low&nbsp;or balk at paying =
high=20
  prices they are just ruining the market.</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2><EM>(sigh) Okay.&nbsp; Well, just try =
to console=20
  yourself with the knowledge that in a discretionary market, =
it's&nbsp;buyers=20
  who dictate the prices at which goods are sold, not sellers.&nbsp; The =
only=20
  thing about buyers is,&nbsp;they don't band together as a group and =
refuse to=20
  pay what they feel are excessive prices for goods they really don't =
need but=20
  desire.&nbsp; There will always be a few individual who will be =
willing to pay=20
  excessive prices which tend to keep prices high for=20
  everyone.&nbsp;&nbsp;</EM></FONT></DIV>
  <DIV><FONT face=3DArial size=3D2><EM></EM></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2>Hey.&nbsp; You know, I feel better=20
  already!</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2>-Walter</DIV>
  <DIV><BR>-----------------------------------------------<BR>Walter =
Branch,=20
  Ph.D.<BR>Branch Meteorites<BR>322 Stephenson Ave., Suite =
B<BR>Savannah,=20
  GA&nbsp; 31405 USA<BR><A=20
  =
href=3D"http://www.branchmeteorites.com">www.branchmeteorites.com</A></FO=
NT></DIV></BLOCKQUOTE></BODY></HTML>

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Received on Mon 01 Jul 2002 01:11:56 AM PDT


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