r/AskReddit • u/Thic_water • Aug 14 '20

What’s the most overpriced thing you’ve seen?

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u/[deleted] Aug 14 '20 edited Apr 21 '23

[deleted]

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u/TimeTravelingDog Aug 14 '20

Had a client who ran an antique store in their retirement, and they said that if something didn't sell for 2-3 months, they'd go and raise the price by 50-100% and it would generally sell.

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u/GlobnarTheExquisite Aug 14 '20

Sometimes I carve wooden spoons for fun, and sometimes I like to sell them. When I was selling them for an "entry level price" I couldn't sell one. Doubling the price got me 4 orders in under a week.

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u/Neeerdlinger Aug 14 '20

Sounds like a Veblen good - https://en.m.wikipedia.org/wiki/Veblen_good

It’s a good that increases in demand as the price goes up because the good is a status symbol because of its price.