You get what you pay for, indeed!

This reminds me of a story I once heard that goes something like this...

There was a woman who owned a shop -- a one stop shop -- for all your tourist needs. You could buy pink coyotes and large wooden cacti. You could also buy turquoise jewelry. In fact, the woman who owned the shop had a little supply of jewelry she wanted to sell, but alas no matter what she did to try and bring attention to it, buyers expressed little interest. "Well" she thought "I suppose I'll have to mark it down if I want it to sell." That evening she was going out of town for a few days and left the following note for her assistant:

All turquoise jewelry x 1/2

A few days later the woman returned to discover that all of the jewelry had sold! "Well" she thought "That worked better than I expected." But something else was amiss in the store that morning...

The woman's assistant came into the store. "Wow, doubling the price of that turquoise jewelry really made it fly off the shelf!"

The assistant had inadvertently read the 1/2 as a 2 and doubled the price of the jewelry. But what is the meaning of this? You get what you pay for... or so people may think. Expensive = Good... or so people may think. But, alas, this shows that people do not think nearly so much as they should. Is this jewelry valuable? Is it more valuable since the price went up? Who cares!

You get what you pay for, expensive is good.


Influence: The Psychology of Persuasion - Robert Cialdini