The founders of the website Significantobjects.com, buy thrift store, garage sale, and flea market products, always cheap, no more than a couple dollars at most. Then, they hire a writer to compose a fictional story about the product, imbuing it with heritage, history, and ostensibly, value. The once-valueless products, accompanied by their new stories, are then sold auction-style on eBay. The difference between the original purchase price and story price is recorded as the objective value of that story. The takeaway results for the first 100 products bought, storied, and then resold on eBay are poignant and telling. On average, the original product price was $1.29. But the average resale price after a story was added grew to a staggering $36.12.
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November 11, 2012
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