Human Nature – What Ben Franklin Knew

The market place, as defined by a respondent to yesterday’s entry, is defined by what someone will pay for something. A price is asked and it is either accepted or rejected. It is a simple and logical concept which you would think is black and white.

Except that I have been reading a Benjamin Franklin biography and his forte was understanding human nature. Human nature is inconsistent, often irrational. The same person who has made billions can be outraged by what he or she perceives to be someone’s usurious profits. As antique dealers buy in public auctions, sometimes against their own clientele, they are targets for such outrage.

I made a point yesterday about the dealer client relationship because it transcends the black and white nature of the price tag. Clients who appreciate the dealer’s expertise and effort get better service and, at times, better prices. The shade of gray, not the black and white, is where human nature resides. Ergo, the topic of how things are priced will always be a matter for discussion.

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