Note: This is not my idea. I read it somewhere and I tried hard to recollect who said this so that I can appropriately credit him/her for this profound thought, but my memory failed me!
[Inserted on May 27, 09 - Seth Godin said this]
What is the best price? (to either buy or sell something):
If you are selling - an amount at which you will not buy that particular thing. Imagine you bought movie tickets of Rs. 50 each for Rs. 250 each and someone comes and offers you Rs. 500 each. If you yourself are willing to pay Rs. 500 to watch the movie, you should not sell. But, if you are not willing to buy at Rs. 500, you should immediately sell. Its not about how much you have spent already, it is about how much are you willing to spend that should decide whether or not to sell.
Vice versa if you are buying.
This applies to a-n-y-t-h-i-n-g!
[Inserted on May 27, 09 - Seth Godin said this]
What is the best price? (to either buy or sell something):
If you are selling - an amount at which you will not buy that particular thing. Imagine you bought movie tickets of Rs. 50 each for Rs. 250 each and someone comes and offers you Rs. 500 each. If you yourself are willing to pay Rs. 500 to watch the movie, you should not sell. But, if you are not willing to buy at Rs. 500, you should immediately sell. Its not about how much you have spent already, it is about how much are you willing to spend that should decide whether or not to sell.
Vice versa if you are buying.
This applies to a-n-y-t-h-i-n-g!
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