What Value Do You Place on “Things”? Can Your Charge More?
June 20, 2011
One of 119 rare books entitled 'Birds of America' was recently sold at auction for just over £7.3m . This fact sheds light on an old business adage – pay will always pay for premium products or for scarcity.
Written by wildlife artist John James Audubon it is the most expensive book in print. Audubon was influential; his work influenced Darwin who wrote the Origin of Species.
An incredible stunning book by a wildlife artist who influenced Charles Darwin became the world's most expensive book when it went under the hammer at an auction on Tuesday night.
The book consists almost 500 life size hand coloured illustrations of birds. It will not fit most bookshelves. It is 40 inches high.
The buyer described the book as “priceless”.
It is a strange world when a book can make so much money but is does illustrate that the upper limit that people are willing to pay is very high. This applies to the types of product and service we all sell. Sure there is a base price that most people expect to buy at; but in certain circumstances people are prepared to pay more. You just have to identify those circumstances.
We can all offer a premium product from our normal range. We may have to add bells and whistles but someone somewhere will always be prepared to pay more. Can you identify what you could charge more for?
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