( coded by hand )

Stop complaining about technology prices

I should have written this article last year when everyone was crazy about Apple dropping the price on the iPhone. Since people continue to make insane statements in the same vein, and I doubt they will stop any time soon, perhaps it is still timely.

A semi-recent example

On episode 655 of Buzz Out Loud guest-host Natali Del Conte complained about ‘taking up the you-know-what’ because she had to pay a restocking fee when she returned her iPhone to get the new upgraded capacity version. The new version has twice the hard drive space, and costs $100 more. Apple charged her 10% of her original purchase, and apparently this translates to them taking advantage of her in some way.

You get what you pay for

Let’s back up to the day when Natali bought her original product. When she was standing at the register, or looking at the ‘buy now’ button online, she had a decision to make. Is this product worth the cost? Quite simply, any time any one buys anything they are making an agreement with the seller.

I am willing to exchange this amount of currency in order to own this item.

If she decides that the item is indeed worth the price they are asking for it, the deal is done. She gives up the dollars, and they give up the product. Whatever happens in the future does not change the fact that at the time she purchased the product, it was worth the asking price; else she would not have purchased it.

So, a month goes by (or a week, or a day, or an hour) and some new product is now for sale. This product has a price as well, and consumers will have to judge whether it is worth its asking price. This has nothing to do with any earlier transactions. It is a new potential agreement on the value of currency. It may be a much better deal, but it does not alter the fabric of time. The agreements you have made in the past about what items were worth are still valid. That old iPhone is still worth exactly what you paid for it, because you agreed to pay for it.

What is it worth

At my gallery, we sell art for prices determined by the artist. If a piece is priced at $500 and it does not sell, it is not worth $500. Perhaps in the future it will be, but only when someone agrees to pay $500 for that piece.

Similarly, if you have a piece of art that was given to you by the artist, you can not claim this art is worth X amount of money. It does not matter if that artist has sold other work for similar amounts, this piece of artwork is worthless, unless someone is willing to buy it for that price.

Stop it, no seriously...stop it!

Please pundits everywhere, stop talking about how some consumer got ‘ripped off’ or that some company is taking advantage of its customers because it dropped the price of an product. No one forced these people to buy something for a price they did not agree it was worth.

If you bought an item that you later regret because a better/cheaper product is now available, suck it up. Realize that when you bought it, that product you own was worth the money you spent on it. And if you want the new one, it will have to be worth what it will cost you to acquire it. In this case, Natali had to pay 10% to return her iPhone and the difference in cost for the new one. Guess what, it was worth it to her to do that since she did. So, stop complaining.

08.02.16 11:32:04