The attachment, though, can cost us money. Arguably, even Tavarez s customer selling his bedroom furniture would have been better off with some cash. And if you ve ever spoken to homeowners carrying the costs of an overpriced property listing, well, they tend to use expletives when describing the expenses.
The good news is there are ways to erase the irrationality.
Selling something feels like a loss and when buying something there s a gain. says Vanitha Swaminathan,http://www.lvase.com/, an associate professor of marketing at University of Pittsburgh. You might find it s hard to part with your possessions and that people won t value your things as much as you think they re worth,Prada Bags.
Behavioral researchers have long known we overvalue our stuff, but Swaminathan found the identity link by inviting a swarm of her university students into a lab. She formed three groups,Louis Vuitton Online, giving the first one tote bags stamped with the school logo, the second group bags with a rival school s logo and the third one bags without any logo. She ran a series of experiments but in the most telling, students selling their school logo bags demanded $3 more than buyers wanted to pay. Students selling both plain and rival school bags demanded just over $1 what buyers would pay,gucci outlet store online. On the other side, no one was willing to pay more for their school logo tote, meaning the overvaluing effect happens only when selling stuff, not buying it,foceng.com/chanel.
Goods when they become part of you they re seen as extensions of yourself and part of your identity, says Swaminathan. Things that become part of you are seen as more valuable,http://www.hongae.com/.
You don t have to tell Key Biscayne realtor Paola Padovan. She recently listed a condo with floors covered in a bright blue material that had been handcrafted in Brazil, where the owner had been born. The color was shocking to prospective buyers but the client refused to lower the price. He ended up carrying the place and its mortgage, maintenance fees and insurance costs for over a year,Louis Vuitton Outlet.
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