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The Magic Cafe Forum Index » » Books, Pamphlets & Lecture Notes » » Ernest Earick's By Forces Unseen (3 Likes) Printer Friendly Version

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WitchDocChris
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Quote:
On Feb 3, 2021, magicfish wrote:
He also wrote that no book should be more than $200 dollars.
Do you agree with this?


No. I have happily paid more than $200 for books that were worth it to me.

However, I will also note that every one of those books was rare, old, and/or concerning quite niche subjects. ie: Low supply.

That being said, I would never have paid the previous going rates for By Forced Unseen because it simply wasn't worth it to me.

What Rachmaninov is referring to is basically Supply and Demand. When it comes to old, rare, or niche books the supply is low, so there are few choices. This allows sellers to demand higher prices because buyers don't have options. If there were options, the price would plummet.

There was a reprint of The Discoverie of Witchcraft in 1930. 1275 copies were made, and they actually created a special paper to use just for that printing. So the quality of the books is very nice. They sell for around $300-$700. So this is a case where we have a very solid example of exactly what Rachmaninov is referring to - Two volumes, both high quality, both with the same content. The reason the 1st edition sells for so much is because it's extremely rare and niche.
Christopher
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Psycho Seance book: https://tinyurl.com/y873bbr4
magicfish
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Your point is clear, and obvious.
However, the member made no mention of age nor niche nor quality.
His claim was equally clear- that only rarity adds value to a book.
My response to that remains the same- it simply isn't true, as you have eloquently pointed out in your post above.
WitchDocChris
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Rarity is probably the main defining factor, in all honesty. That and desire of the buyer to own it.

There's plenty of antique books you can buy for next to nothing, because no one cares about them.
Christopher
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Psycho Seance book: https://tinyurl.com/y873bbr4
magicfish
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Of course. See? There's another factor. There are so many other than just rarity.
WitchDocChris
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On Feb 4, 2021, magicfish wrote:
Of course. See? There's another factor. There are so many other than just rarity.


Not many. And I'd argue rarity is the most significant.

We're circling. Either you'll accept this or you won't. I'm done.
Christopher
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magicfish
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Um no. It is you who has already accepted and confirmed.
Somebody made an absolute statement that rarity is the ONLY thing that adds value to a book. I stated that this was incorrect, and you agreed with me by listing several other factors that add value to a book.
Are some more significant than others? Of course. Nobody is disputing that.
For some strange reason you are now denying your own opinion.
THERE ARE MORE FACTORS THAN JUST RARITY THAT INFLUENCE BOOK VALUE.
Period.
If you won't accept this then you are lying to yourself.
Done indeed.
kissdadookie
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Quote:
On Feb 4, 2021, WitchDocChris wrote:
Quote:
On Feb 4, 2021, magicfish wrote:
Of course. See? There's another factor. There are so many other than just rarity.


Not many. And I'd argue rarity is the most significant.

We're circling. Either you'll accept this or you won't. I'm done.


I think rarity typically drives up the asking price when first released. It's a combination of finite supply in conjunction with demand which drives up the resell value. The demand I think typically would leave the resell market supply constrained (as people whom already have a copy would be less likely to want to part with it). It's this constrained supply for which the item then drives a higher resell price.

Rarity alone I don't think is sufficient as we can find goodness knows how many examples of things which are released in very limited quantities (thus inherently rare) yet there's little to no resell market for the item. End of the day it's really a supply and demand issue but there needs to be demand. It's the demand which sets a perceived value on something.

Hypothetically speaking, something that has just 100 copies ever to be produced but there's little demand for it is obviously not going to fetch a price which will appreciate. Something that has 1000 copies ever to be produced which has a high demand for it, this would likely be a item that appreciates in value.

Remember, value is subjective, it's perceived. Rarity is quantifiable and is not simply a subjective element. Rarity is a factor in the pricing of something especially for resell. It is however, not the main factor (it's high up there, but there's no plausible argument for it to be the most significant, even with your examples, it's more a function of age and wanting the first printing of something, those can be mutually exclusive to rarity).
magicfish
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Great post. You're so right. And thanks for the support. You said it much better than I.
WitchDocChris
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Quote:
On Feb 19, 2021, kissdadookie wrote:
I think rarity typically drives up the asking price when first released. It's a combination of finite supply in conjunction with demand which drives up the resell value. The demand I think typically would leave the resell market supply constrained (as people whom already have a copy would be less likely to want to part with it). It's this constrained supply for which the item then drives a higher resell price.

Rarity alone I don't think is sufficient as we can find goodness knows how many examples of things which are released in very limited quantities (thus inherently rare) yet there's little to no resell market for the item. End of the day it's really a supply and demand issue but there needs to be demand. It's the demand which sets a perceived value on something.

Hypothetically speaking, something that has just 100 copies ever to be produced but there's little demand for it is obviously not going to fetch a price which will appreciate. Something that has 1000 copies ever to be produced which has a high demand for it, this would likely be a item that appreciates in value.

Remember, value is subjective, it's perceived. Rarity is quantifiable and is not simply a subjective element. Rarity is a factor in the pricing of something especially for resell. It is however, not the main factor (it's high up there, but there's no plausible argument for it to be the most significant, even with your examples, it's more a function of age and wanting the first printing of something, those can be mutually exclusive to rarity).


As soon as a product is desired, the seller will be able to set the price in accordance to how easily that buyer could go to someone else to purchase it.

In other words: If a product is readily available, the upper price will be set by how low someone else is willing to sell it.

So yeah - rarity is the main factor of pricing.

I mean - honestly, do you think anyone would pay more than $50 for By Forces Unseen currently? It was selling for hundreds of dollars before this reprint. But now it's readily available, same content, same quality.

The only people I can imagine who would pay more than the retail price would be either fanatic collectors who think "1st Edition" will genuinely add value, or someone in some weird circumstance that means they can't purchase from the retail stores getting taken advantage of by a greedy seller.
Christopher
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Psycho Seance book: https://tinyurl.com/y873bbr4
magicfish
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One doesn't need to be a fanatic to appreciate 1st editions.
Again, NOBODY here has disputed that rarity
can be a significant factor, sometimes the main factor.
The claim made was that rarity is the ONLY thing that adds value to a book.
This is false as you have shown in each of your posts.
I'm confused as to why you won't concede that
The claim is false, even though you YOURSELF have listed many other factors that contribute to the value of a book.
WitchDocChris
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I am making a separate claim. Sorry if that was confusing to you.

Once a demand is established, rarity will be the primary factor.
Christopher
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Psycho Seance book: https://tinyurl.com/y873bbr4
magicfish
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I'll try again.

Rachmaninov wrote:
"Rarity makes a market value, nothing more."

This is false.
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