Navigating the markdowns in real estate, finance, and art.

The world, in case you haven’t noticed, is on sale. As with the stock market, which stands at roughly half its peak value, 50 percent off is a decent rule of thumb. Some things aren’t there yet, and may never be; a few things, like designer-knockoff handbags, have slipped into minus-90 territory. An incredible deal for someone.
If you happen to think that the cost of goods will eventually go back up, then some sale items aren’t just discounted—they’re undervalued. But what are they worth? A free market, by its very nature, assigns prices based on what other people think. But for many goods, that system is currently busted. People have shut down; the market is having a difficult time determining how anything should be priced. In an environment like this, you need to rely on your own sense of value. How much cash do you have on hand? What do you really want? How much risk are you willing to tolerate? Patience right now is your friend, as is the tactical lowball offer.
Read the rest here:
The Bargain Hunter’s Handbook
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