3 ms·
> The price of anything is a result of its some intrinsic value and the volume of supply. So a precious stone is valuable because of its beauty, but also becaus
by donatj 6y ago
> The price of anything is a result of its some intrinsic value and the volume of supply. So a precious stone is valuable because of its beauty, but also because it's rare.
The price of something is just what someone else will pay. Period.
Intrinsic value factors into what people are willing to pay but only indirectly.
See: beanie babies, trading cards, status items, old land rovers.