Sorry kpsunil for hijacking this thread, just ignore our banter or feel free to join in.
The only thing is that a Louis Vutton bag has slightly better transparency than Oriental Rugs. You know what you're getting when you pay $30 for a LV bag, and you can be more than certain it's not the real thing. A great deal of the value has to do with what is perceived. In fact, I believe that if anything, the amount of fake LV bags actually reinforces the retail prices of authentic bags. The more fakes that are out there, in my opinion, the more recognized and therefore more valuable the original becomes.
I totally agree with you and am certainly not going to argue what only seems true to me. What I have a problem with is those sellers who are asking the LV price for a fake LV bag -although this seems a little outrageous because with rugs the price difference between a good and seconds good would have a significantly smaller gap.
Keep in mind, my concerns have nothing to do with the "conflict" of a inferior and normal good. I'm talking about an blatant disregard for current market prices. The point I am trying to make is that while one may be able to get a good deal, I do not consider eBay a "wholesale outlet". There is a reason why many people in the business avoid purchasing online. The risks are too high, margin too small, and quite honestly many of the goods are not of the quality which would most retailers would have in their stores. HOWEVER, I entirely support and encourage the furnishing of a beautiful home. While some people cannot afford the $5000 rug, it doesn't seem right to me to see these rugs that can be had on eBay for $200 shipped to the door to see them wind up on Craigslist AND SELL for $1200. That is not what I would consider fair business practice. Everyone needs to have a meal... but shame on the seller who tries to dress a wolf in sheep's clothing, and expect to pull the wool over their client's eyes.
The thing is, we're not talking about a fake and a real rug. Comparing an original bag and a fake bag is a good example, although the difference is far more than the utility. Although a real LV bag will most definitely outlast a fake, there is the question of utility which comes up. The key concept here is that
a real LV will look newer for longer. Same goes for these rugs which of better quality. Although with Oriental rugs, the point I am making is that most people can't distinguish between the good rug and the junk rug which are woven in the same factory with the same KPSI and everything. Unfortunately, many of us judge quality and authenticity by price. In fact, some of these LV fakes pull it off great. Not only do the bags appear to be fairly close to the original, but other indicators that we perceive play into our senses. First we recognize the location. You're on a street of NYC, and you see the bags. 1 - it's either a 5 finger discount or 2, it's a fake. Then you assess the seller. If he doesn't seem nervous, it's probably not a 5 finger discount. This then leaves the option of a fake. So you assess the price: When you see the price, you can make a fairly good assumption that this would not be a authentic bag. But Krow, the point I am making is this: People also use the price as such a value indicator. I'm talking about two different qualities of rugs that most people would not be able to distinguish, and what I'm also saying is that you don't have the benefit of having a price to be an indicator all the time - Many sellers will charge the price of a good rug, even when it's a seconds good.
When we talk about about good quality of rugs, it should go further than assessing imperfections: those outside aesthetics. E.G. anything which may compromise the structural integrity of the carpet, or the longevity of such a piece. This would encompass imperfections such as uneven weaving techniques, uneven sheering, too hard of a washing process (weakening fibers)... It goes on but you know what I mean. The thing is these didn't used to be a concern. With the influx of so many poorly made carpets, the need to distinguish between the good and the bad is more important than ever before, as many of these GOB sellers, travelling auctions and others will specifically truck these inferior seconds goods in for, and only for, their sale. That is to say, many of these people actually continue to import goods after the sale has started. If they have no long term vested interest in business standing... You have to understand these people are cut throat. They will buy junk rugs rejected by importers for a couple dollars a ft. and still ask the price of the same rug without any problems. Buy Low, Sell High. But this is not honest business practice when the goods started with are inferior by nature.
We were talking about this before. I understand if someone gets a great deal on a piece, and they don't want to part with it because of what it is to them. That's fine. But when someone gets an appropriate deal for a seconds good, but inflates the price 6, 7 even 8 fold what it should be and then sell it. That's not only commonplace, but very, very wrong. I don't have a problem with the flea market seller, I don't have a problem with the Park ave. seller. Both clientel are very different crowds with different needs. I think it's great to sell flea market, but from my experience, I like to know that if I go to one, I'm not going to be told something is one thing when it's not. I don't want to have the first price come out of the sellers mouth be 4 fold what they're actually willing to sell the item for. I don't mind negotiating, but I know the next guy may accept the first number off the bat. Tough luck for him, but the fact of the matter is, a fair market price is a fair market price. While I don't expect the world to be honest, I do believe there certainly is a time and place and value for most everything.
I honestly believe the only rug you can honestly price outside of a fair market value would be one which is incredbily rare. I'm not saying one can't buy off ebay and sell for 3 fold what they purchased for - you absolutely can, but every so often one will have to accept the risks involved and sell at cost. It's a push and pull, but when it all comes down to it, after all is said and done: It's not about the different crowds,
it's about the value provided, and the integrity of the seller behind the item.