32 million dollar for a 8cm wide porcelain cup

[Skybird]

http://www.bbc.com/news/entertainment-arts-26935113

Sometimes I wonder about the definition of the term "mental sanity".

Seeing that thing, i would expect to see many of that sold from big boxes at Woolworth for 0.99 per item.

[Betonov]

Look at this. It's worthless - ten dollars from a vendor in the street. But I take it, I bury it in the sand for a thousand years, it becomes priceless.

The good old days of the porcelain standard.
There is a relatively fixed number of these pieces of porcelain and the government cannot manipulate their value by simply firing more.

Sometimes I wonder about the definition of the term "mental sanity".

This "insanity" is a standard variation of your economic ideal.

[Wolferz]

I bet if you check the bottom of the cup it says...
MADE IN CHINA

[Skybird]

Originally Posted by Betonov

Look at this. It's worthless - ten dollars from a vendor in the street. But I take it, I bury it in the sand for a thousand years, it becomes priceless.

Not really true, for the French professo implies his assessment is a general "absolute" to which everybody would agree. But obviously an anceint old cup would not be worth just any amount of money to everybody - most people would consider it a broken, old item, not worth their money.

If that old porcelain cup would be agreed by EVERYBODY (= the vast majority) to be of that much value, then maybe we would get a new currency of old porcelain cups . Then you pay your two donuts with scratching a microscopic tiny grain off that porcelain, to pay with it. That this does not happen, obviously means that there are other items more fit to serve in that function, and more agreeable to be used from most people's POV, and too few people would agree that that cup has become priceless just becasue it has been buried in the sand for long.

So, I disagree, Monsieur!

I instantly had that scene on my mind, too, when reading the story, Betonov!

[Betonov]

As long it has value to one person, it has value.

But most probably, someone is just betting it's price will go up the next time it's put on auction. So be it, it means that someone has an interest of keeping this little piece of history intact.

[AVGWarhawk]

It is worth what one is willing to pay for it.

[Wolferz]

The insurance people at Lloyds of London (Rroyds of Rondon?) are rubbing their hands together anticipating payment of a hefty premium.

[Oberon]

Speculate to accumulate. Can't see the antiquities market going down any time soon. Probably a safer bet than the gold standard!

[Betonov]

Originally Posted by Oberon

Speculate to accumulate. Can't see the antiquities market going down any time soon. Probably a safer bet than the gold standard!

That's why I'm keeping my Austria Hungary silver coins.
My father wants me to sell them ASAP, but I'll take the risk that prices might go up

[Jimbuna]

I doubt the purchaser will be all that interested in cashing in on his investment for a good while. This is the only one in China.

[Oberon]

Originally Posted by Betonov

That's why I'm keeping my Austria Hungary silver coins.
My father wants me to sell them ASAP, but I'll take the risk that prices might go up

Generally, fads aside, antiquities increase in value over time, so it's a fairly good bet. I mean, a one pfennig coin from the 9th century is probably worth a heck of a lot more than one pfenning now (or whatever that translates to in Euros).

[the_tyrant]

To be fair, this is probably the best specimen of Ming Dynasty porcelain. You know how much money a museum in China is willing to pay for that stuff?

[Aktungbby]

Originally Posted by Skybird

Sometimes I wonder about the definition of the term "mental sanity".

Arguably the ultimate oxymoron (ὀξύμωρον-still Greek to me!) and then there's the Norwegian point-of-view...it's enough to leave ya screamin'! The pastel version(of 4)" The Scream" just sold at Sotheby's in 2012 for $122.2...The price boggles but the concept is clear enough... in any language!

[Platapus]

"Everything is worth what its purchaser will pay for it." Either Publilius Syrus or Leonard Nimoy