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RE: Is rarity a factor in determining the price of a commodity?

in Olio di Balena4 months ago

Just like you said, "rare things will eventually become valuable", I would say that this is probably the reason why most people hoard products. By hoarding, product owners keep their products out of market (that's trying to make it rare) and then as the product begins to gain value, they sell.

Another thing a business or product owner should consider most times is location. Just like the Nigerian man with lion cub for sale, I guess he's probably in the wrong market area. If it were a dog, that's very common.

Thanks boss for sharing. There's really a lot to learn.

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Rare things don't always become valuable and that's what I actually meant. A lion is rare, but only a few people wants them. A pig is common but many people wants it. The principle of demand and supply always works at least 90% of the time.