CzechCzar
Use the Fat, Luke!
I recently made a liberating discovery that I thought I should share with you. Many (most) of us suffer from some kind of acquisition disorder. The result of this is an ever-growing stash, that realistically will never be used up.
My stash is smaller than others, but still annoying. Three soaps that just did not get along with me - scent or performance were sub-par. And some aftershave balms that just smelled not good.
Because of the economics of selling used shave goods, I have found that even if I am able to sell, I typically only make a few dollars back - nowhere near my initial spend. If an item costs $20 to buy, after all is said and done, I would be lucky to make $5 back from the resale. When I factor in time and money spent packing and shipping, for me that's a loss overall.
I will share two economic concepts that have a bearing on this (both from Wikipedia):
1) Opportunity cost: In microeconomic theory, the opportunity cost of an activity or option is the loss of value or benefit that would be incurred (the cost) by engaging in that activity or choosing that option, versus/relative to engaging in the alternative activity or choosing the alternative option that would offer the highest return in value or benefit (the best forgone opportunity).
2) Sunk cost: In economics and business decision-making, a sunk cost (also known as retrospective cost) is a cost that has already been incurred and cannot be recovered.[1][2][3] Sunk costs are contrasted with prospective costs, which are future costs that may be avoided if action is taken.[4] In other words, a sunk cost is a sum paid in the past that is no longer relevant to decisions about the future.[3] Even though economists argue that sunk costs are no longer relevant to future rational decision-making, in everyday life, people often take previous expenditures in situations, such as repairing a car or house, into their future decisions regarding those properties.
This sounds complicated, but the application to the current scenario is relatively straightforward. The opportunity cost of list/selling/packaging/shipping a used shave good is generally greater than the money I get from the actual sale. Moreover, the money spent on the initial purchase is a sunk cost.
So what have I started doing? Throwing it out! Sacrilegious I know, but it actually surprisingly liberating. No more feeling obligated to use a product that I hate simply because I have purchased it. Life is too short to waste my shaving time!
I encourage all of you in a similar situation to give it a try!
My stash is smaller than others, but still annoying. Three soaps that just did not get along with me - scent or performance were sub-par. And some aftershave balms that just smelled not good.
Because of the economics of selling used shave goods, I have found that even if I am able to sell, I typically only make a few dollars back - nowhere near my initial spend. If an item costs $20 to buy, after all is said and done, I would be lucky to make $5 back from the resale. When I factor in time and money spent packing and shipping, for me that's a loss overall.
I will share two economic concepts that have a bearing on this (both from Wikipedia):
1) Opportunity cost: In microeconomic theory, the opportunity cost of an activity or option is the loss of value or benefit that would be incurred (the cost) by engaging in that activity or choosing that option, versus/relative to engaging in the alternative activity or choosing the alternative option that would offer the highest return in value or benefit (the best forgone opportunity).
2) Sunk cost: In economics and business decision-making, a sunk cost (also known as retrospective cost) is a cost that has already been incurred and cannot be recovered.[1][2][3] Sunk costs are contrasted with prospective costs, which are future costs that may be avoided if action is taken.[4] In other words, a sunk cost is a sum paid in the past that is no longer relevant to decisions about the future.[3] Even though economists argue that sunk costs are no longer relevant to future rational decision-making, in everyday life, people often take previous expenditures in situations, such as repairing a car or house, into their future decisions regarding those properties.
This sounds complicated, but the application to the current scenario is relatively straightforward. The opportunity cost of list/selling/packaging/shipping a used shave good is generally greater than the money I get from the actual sale. Moreover, the money spent on the initial purchase is a sunk cost.
So what have I started doing? Throwing it out! Sacrilegious I know, but it actually surprisingly liberating. No more feeling obligated to use a product that I hate simply because I have purchased it. Life is too short to waste my shaving time!
I encourage all of you in a similar situation to give it a try!