Anyone do restorative silver plating?
Lloyd E. Sponenburgh wrote:
... She'd like it done, but figures the
piece was only worth about $150 new, so it doesn't make sense to spend more
than that having it re-done.
....
Bad logic. A cousin of the sunk cost fallacy. It can't be bought new,
therefore the only criterion is: what's it worth to have it usable.
Could be rephrased as: what would I pay for a new one now, if they were
available.
I'm not trying to justify $1500, which is absurd, just to point out that
the $150 new cost, back when, is now irrelevant.
Bob
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