how do you decide what X is worth?

In other words, how do you determine value? Take the pot on the left for example. I found it advertised on Kijiji, and immediately fell in love. But more than a hundred other viewers over the past month and a half did not fall in love. Or at least, not enough to want to pay the asking price of $40. That price was considered a steal by its owner, and frankly, I'm inclined to agree. The pot is huge (holds 26 cups while my biggest holds 16), and is ideal for making vast quantities of soup, which I do a lot. Of bigger value to me is the brand and colour (the Dutch BK line which no longer produces pots and pans in this lovely shade), and the idea of making savoury soups in this cheerful cauldron. I grew up on food made in pots like these, so definitely nostalgia factors in. But when I was asked by someone if I thought this pot was worth $40, I immediately replied absolutely. I don't even intend to haggle for it! And I guess that's what monetary value comes down to: whatever someone is willing to pay is what it's worth.

p.s. even though it's not Monday, I'm going to put this in the monday's $ question category because well, it's a question and it's about money ;)

update: Got the pot yesterday plus a smaller version for an additional $5, and am even more thrilled with them in person. They're clean, and you can tell that they're of really good quality. I'm gonna enjoy them for years I bet!

Comments

[Krissa]

It was quite a few years ago that I first bought pots and pans for myself and if I hadn't done that, I would never have known/believed how expensive they can be. I'm guessing that this pot is worth the asking price. I love the color, btw! I'm not sure why the people who think it's not worth that much think that way. Ignorance (I don't mean that in a 'mean' way) has to have something to do with it. Anyway, I hope you got it!

[have gone vegan]

I love the colour too! And I try to do all my cooking in orange pots if I can, so I'm hoping this one will be mine soon.

As for the cost, I think it's more because people want bargains when they buy from places like eBay and Craigslist, so are not always willing to pay a full or higher price.