Your definition equates to “my wares are worth whatever I can convince someone they are worth.” Is that a fair way to set prices?
That actually hits the nail on the head and I believe that is a perfectly acceptable way to set prices for luxury items like a Gucci bag.
ETA:
It can’t be both worth 1 and 2000 at the same time.
It can, because people value things differently. One person might not regard a single item as being worth $1 and $2,000 at the same time, but two people could. And, as long as both people exist, the guy who thinks it’s worth $2,000 is who the company is going to sell it to.
I understand its based on perspective, I’m saying that you can’t say an item holds a certain worth objectively. A Gucci bag is only worth 2000 if you can find someone to pay that. I think the word “worth” is doing extra work it doesnt need to.
That actually hits the nail on the head and I believe that is a perfectly acceptable way to set prices for luxury items like a Gucci bag.
ETA:
It can, because people value things differently. One person might not regard a single item as being worth $1 and $2,000 at the same time, but two people could. And, as long as both people exist, the guy who thinks it’s worth $2,000 is who the company is going to sell it to.
I understand its based on perspective, I’m saying that you can’t say an item holds a certain worth objectively. A Gucci bag is only worth 2000 if you can find someone to pay that. I think the word “worth” is doing extra work it doesnt need to.