>>> .... is this REALLY worth US$ 25600?
>>>
>>> Even from the point of view of a nostalgic with a lot of money and no
>>idea
>>> how to spend it..

>>Are rare stamps worth the money that people pay for them?

> Objectively NO.

> Subjectively, ANYTHING is possible.. however, this doesn't put things out
> of the "crazy" realm.
>
> I.e. the fact that someone would spend one million of dollars for a cigarette,
> doesn't make it a "sensible" way of spending money. Of course, one is free to
> do whatever he/she wants with his/her money.. but that, as said, is a different
> argument.

There are at least two aspects to consider.

1. See my prior  formula. All it says, of course, is that if you buy
something that is certain to appreciate in value at (well) in excess
of the inflation rate then it makes reasonable economic sense to do
so.

SOME attempts to do this fail.
eg AFAIR Van Gogh's "Sunflowers" sold for far above it's subsequent valuation.
BUT this calculator will almost certainly continue to appreciate.
This particular one was said to have been personally owned by the
original creator.
If provenance is established then its future value is liable to be assured.
Hardly crazy.

2. The suggestion that objects only have worth in terms of their
actual physical characteristics, and that their history, rareness or
other ephemera is of no or of strictly limited relevance in
determining their worth is, as I know you know, not a majority opinion
worldwide. But, once you acknowledge that some things are worth more
"just because' where is it "reasonable" to draw the line, and who
says?

I still own my first slide rule. Solarwind may know what a slide rule
is, may well never have seen one and quite possibly couldn't use one
uninstructed. Commercially my slide rule is worth about $0.
You'd have to offer me a very significant amount to buy it.
What would you pay for it?
Is that craziness on my part?
(Maybe :-) ).
Looks similar to this but MUCH newer and no leather case.
http://cgi.ebay.com/Pickett-Eckel-Model-300-Sliderule-w-Leather-Case-/230480340041?cmd=ViewItem&pt=LH_DefaultDomain_0&hash=item35a9b2e449#ht_602wt_1138
The value at one stage WAS $0 but now it looks like rarity may have
pulled it back into the $1-$10 range.
Offered on eeebay 100 years from now it would probably fetch $1000 in
todays terms.

I own an Osborne 1 portable computer
You can buy them on ebay for far less than I'd sell you mine.
Do I have no right or logical ability to assign such a value to it?
Or my Zx81?
ALL the ZX81's on ebay at present are offered for far less than I
would accept for mine.

At what point does "craziness" start.
Assessment in terms of an individual;s net worth may be a better assessment.
But, there is always "The pearl of great price".

Much more could be said.
But as neither this or anything else has any prospect of actually
convincing :-) _ I'll quit here.


 R
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