Saturday, November 27, 2010
A firm grasp of the blatantly obvious.
A research team at CalTech recently published the results of a study that indicates people are will to pay significantly more for an item that they can touch. The premium, which was an average of 50% higher for objects that were present as opposed to photo or text descriptions of the same item was reported in the American Economic Review. This simply re-inforces my long held belief that an antique shows are the best place for dealers to maximize return, and that internet based platforms while useful, do not allow the best results for selling merchandise. People still need the tactile experience of touching, looking and inspecting in person.