>It is economically reasonable for me to pay $100 for an item even
>if I know that I could find that item for $75 elsewhere, *if* the
>cost to me of finding that item elsewhere for $75 is $25 or more.
>That $25 doesn't have to be a monetary cost, it could be the
>value of my hours if I'm working on the clock, or my personal
>value for whatever other activity I forego if I'm off the clock.
Josh brings up a really good detail to the equation. Think of it in these terms; who are to people paying top dollar for parts and what would thay have to do to get them cheaper. First as it's been pointed out repeatedly the people paying big bucks are Japanese (in general), not Americans and Europeans. Why? Because we actually have the parts there. I'd bet there is 5x the amount of old French parts in the state of Washington than in all of Japan. During the 50's and early-60's when these parts were made Japan was still working on rebuilding their economy. I'm sure someone was importing some of the parts back then, but I'd bet it's was way less than 1% of the US/Euro amounts. Thinking in these terms Japanese collectors would have to come to America/Europe and go to all the same swapmeets we do to get the parts cheaper. Let's see, and airline ticket would be $1000 minimum, one night in a hotel, food, and local transportation $250, The Deraileur at least $150. If my math is correct that's $1400 and a whole lot of work. Places like Ebay bring items to places where the items just weren't available before. In the old days of auctions collectors in foreign countries would have local representives that they would have to pay to buy for them. Ebay removes this hurdle too. Now take the regular competitive bidding wars that start and prices climb quickly.
enjoy, Brandon"monkeyman"Ives
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Nobody can do everything,
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-Gil Scott Heron-
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