Friday, July 21, 2017

Price vs. Value.

Recently I have purchased a book for $1.25.  Right now you are probably wondering why I would buy a book that is that cheap.  It might sound like a waste of money.

Last month I was at a goodwill type of place (the reason the book was so cheap).  After looking at clothes and some of the old items people have sold to the goodwill my dad and I decided to look at books.  Long story short I was joking with my dad saying "wouldn't it be funny if we found Poor Charlie's Almanack by Charlie Munger here?" On Amazon the book currently ranges from $59-$135 on sale.  Sadly we didn't find this book, but after some joking around my dad found Charlie's book called On Success.  This book currently ranges from $100-175 great condition or new on Amazon.  However the used version of the book is still pretty expensive at a whopping $58!  But the best part the book looked brand new when we picked it up!

I have a couple options right now with the book.  I can sell it and 150 times my money, or keep it and get wisdom from one of the richest people alive!  There is one side of me saying to take the quick cash, but I know "a fence that is put up fast comes down fast".  So instead I am deciding to keep the book, even though half the things he talks about goes right over my head, the other half I get right away.  

Literally almost every page so far has at least one gold nugget of wisdom in it. Like I said some things he says in the book flies right over my head, but this is another reason for me to keep the book.  This way I can re-read it over and over throughout my life and look back on it whenever I need to.

I am excited to read more of this book each and every day.  I am currently half way done with it and it seems like every new page opens my eyes more clearly!

Why not sell the book for quick $$$$$:

I'm not saying that an extra $100-175 wouldn't be nice to have, but the question is, is it worth it to sell the book?  For me the answer is no, because I am learning from one of the richest people in the world.  Sure I could sell the book, but what is the money going to do? For me it would probably just sit there, or be spent on food for a month or so.  If I keep the book, I have the wisdom of the billionaire Charlie Munger whenever I need to read it!

Closing thoughts:

How has this helped you?  Do you have something you bought cheap that you could sell for a bunch of money, but realize its value to you may be more than the money you could get payed for it?  Share your thoughts on Price vs. Value in the comments.

Also if you would like to get your hands on one of the greatest books of all time (in my opinion) and help me out as well, please feel free to click the link and purchase the book by clicking the link below.  You will not be disappointed!

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