Actually, it means exactly that in the "real world." All you're stating is that he could spend time in order to make someone else's perceived value of it closer

Actually, it means exactly that in the "real world." All you're stating is that he could spend time in order to make someone else's perceived value of it closer to his own. It doesn't matter what you paid or what the blue book value is. You will only ever get what the person willing to pay the most for it that you're able to sell it to will pay. I didn't like it or agree with it the first time I heard it (from someone who ended up not buying a car I was trying to sell) but, years and many experiences later, I understand that it's true.