Holy cow is this in the wrong thread. Sorry Fellas!!
As to this thread, I struggle mightily with the thought of losing a lot of money. Conversely, I never set out to flip stuff or make money either.
How do you rationalize selling an item for less than what you paid?
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As to this thread, I struggle mightily with the thought of losing a lot of money. Conversely, I never set out to flip stuff or make money either.
I’ve been buying wine (not always high end) since my days at university, and obviously more seriously once I started work.
Once a bottle is drunk, only the memory of it remains. The (initial) cost is often forgotten and secondary.
Makes good sense to share that ”special” bottle with good mates so we can reminisce over the truly memorable ones.
I’ve sold off a lot of bottles I no longer wished to drink.
Some at a profit, others I couldn’t give a damn, as I was no longer interested in drinking them.
Just so they end up with someone who would appreciate and enjoy them much more than I.
Once a bottle is drunk, only the memory of it remains. The (initial) cost is often forgotten and secondary.
Makes good sense to share that ”special” bottle with good mates so we can reminisce over the truly memorable ones.
I’ve sold off a lot of bottles I no longer wished to drink.
Some at a profit, others I couldn’t give a damn, as I was no longer interested in drinking them.
Just so they end up with someone who would appreciate and enjoy them much more than I.
Unless luck follows you, you will almost always sell for less than paid. If you buy something used and sell it you can break even or close. If there has been inflation you will have the illusion of breaking even but you really still lose money since your hundred or five hundred bucks are not worth less than later.
If you get lucky you will have something that actually appreciates in value but that is difficult to do...even on purpose.
As has been said, keep in mind when its gone its gone and that money will be gone quickly too. It really boils down to deciding if you want cash or you want the item. What you paid is not part of the current and upcoming transaction. Its worth today what the market says it is worth. Trying to rationalize it is really an exercise in futility.
If you get lucky you will have something that actually appreciates in value but that is difficult to do...even on purpose.
As has been said, keep in mind when its gone its gone and that money will be gone quickly too. It really boils down to deciding if you want cash or you want the item. What you paid is not part of the current and upcoming transaction. Its worth today what the market says it is worth. Trying to rationalize it is really an exercise in futility.
My Rolex I bought for £4800 would sell for £9000 in a heartbeat. An old Zenith I bought for less than £3000 would fetch £5000 now. A Bremont Boeing 100, only 300 made that I paid £5400 for and never wore... be lucky if I could give it away. So it goes.
Nowadays, I'd just give stuff away that I can't use. I have a custom trike, adapted with hand controls and heavily souped up that has cost me £30k over the years, can't ride it any more - I'll give that away to anyone in my situation who can get some joy from it. Goes like stink, makes a lovely racket, but virtually banned in London these days.
Nowadays, I'd just give stuff away that I can't use. I have a custom trike, adapted with hand controls and heavily souped up that has cost me £30k over the years, can't ride it any more - I'll give that away to anyone in my situation who can get some joy from it. Goes like stink, makes a lovely racket, but virtually banned in London these days.
My thinking when it comes to pipes is not to spend any money I will ever need. Want is a different story, sometimes I just want to convert some items back into cash. I pretty much figure I will always lose a bit when I sell, even if on flebay and they eat their cut.
I've done this several times with over the years, usually with guitars. It just depends on what is more important in the moment... for me most recently, I felt it was important to stockpile a good amount of my favorite Sutliff blends. So I ordered a crap ton and listed my electric guitar and bass to sell. I'm not doing too much music-wise right now, and both of those instruments are still in production and could easily be acquired again later down the road. Right now, tobacco is more important. Taking a $100 loss on either isn't too painful since they were bought several years ago.
Every situation is different, though. You just have to weigh the pros and cons.
Every situation is different, though. You just have to weigh the pros and cons.
My thinking has always been that once I pay for something, that money is gone. If I later decide to sell an item, that is money I didn't have before.
As for the emotional attachment, that is a different matter. At one time I had about 40 pipes that I had found at junktique shops, estate sales or the bay. I have 10 left that I will eventually to new pipe smokers. (I have three others that I have grown emotionally attached to and will not willingly part with.)
As for the emotional attachment, that is a different matter. At one time I had about 40 pipes that I had found at junktique shops, estate sales or the bay. I have 10 left that I will eventually to new pipe smokers. (I have three others that I have grown emotionally attached to and will not willingly part with.)
Whether it's a house, an investment, or a pipe, what you originally spent on it is a sunk cost. That money is gone. It's irrational and potentially harmful and not in your best interests, to worry about money that has already been spent. Often we refuse to admit we made a mistake, and so hold onto assets that no longer serve our interests.
Thanks everyone. I've been able to view this topic in a new light with the help of your thoughtful comments and different perspectives. I don't feel as conflicted about my possible decisions now.
The greatest wheelers and dealers who have ever lived take losses sometimes.
There's a kind of psychology behind this. Trying to recover sunk costs or get an assumed value from something based really on emotions and not on reality. As I've got older I've learned that once I have bought something it's now worthless and of I can get anything back from it I'm winning.
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How Sunk Cost Fallacy Influences Our Decisions [2025] • Asana
The sunk cost fallacy is a common decision-making pitfall in both life and business. Learn how to combat this thinking trap and make better decisions.
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Pipes and tobaccos are not an investment. They're paraphernalia.
You forgot to mention that the A/C blows cold
This is a really good reminder for that tension of feeling like I’m taking a loss. I’m being emotional in those moment and it’s helpful to remember and acknowledge it.
As usual, Jesse sums it up pretty neatly (this and his previous post).
A pipe bought new, used then resold, is almost guaranteed to sell for less than the original selling price.
There are some exceptions:
- A collectible that has been restored and is now in better condition then when first purchased
- An unsmoked collectible, held for a period time (longer is better!)
Like Jesse experienced, when we moved from Maryland to Louisiana, we had to purge some personal items we knew wouldn't fit in the slightly smaller new home.
For my books
Pipe books - sold here as a group, for slightly less than my cost but I think made some members happy
Other books
- My motor racing/auto/motorcycle books were given to friends. I had some collectibles, and my friends were thrilled to get them.
- Music books - also given to musician friends, who entertained us for decades.
- Music CD's (we had about 1,000) - I converted all to digital and gave them to the book folks.
- Roy Rogers collectibles - gave those to several managers who worked with me over the past 40 years.
I couldn't put a price on seeing smiles generated from the recipients and not even close to the few dollars I would have gotten selling them (not to mention the hassle)
One of my managers who rec'd some Roy Rogers collectibles called me and said there was an autographed post card from Roy Rogers to me, tucked in one of the books. Had I intended to give that away. My wife and I have been looking for that postcard for about 25 years, it disappeared after a previous move. I thought it was long lost. Roy Rogers didn't sign many autographs, almost none with personal inscriptions. That one I was thrilled to get back and it is framed and on my desk in Louisiana.