The enchanted amulet

There exists an enchanted amulet. It currently sells for $1,000,000. Why? Well, it has a curious but wonderful property. If you manage to sell it to someone else for less than its original price then you go to heaven. Alas, it also has a curious but horrible property. If you fail in your attempt to sell it, you go to hell.

Assume that the amulet can only be sold for a whole number of dollars.

Question: Would you buy it at its current price? If not, at what price? What is the lowest value you would be prepared to buy the amulet for?

Under the following two assumptions, I would not buy it at any price:
1) giving it away for 0£ is not a valid 'sale'
2) the population I am dealing with is at least as clever as I am.

Why? Reasoning back from a purchase of 1£ the person could not get rid of it, and therefor would not buy it. The same holds for the person who gets the offer at 2£ , 3£, etc. ...

Gambling a bit, using my inside knowledge on the RHP population, I would buy it and be pretty sure I find a customer for it, perhaps even with a huge gain 😀

edit. even assumption 1 is not needed.

Clarification request: the 'original price' mentioned is the price any individual paid for it, not the original price of 1,000,000 I assume. Right?

Originally posted by AThousandYoung
Clarification request: the 'original price' mentioned is the price any individual paid for it, not the original price of 1,000,000 I assume. Right?

I assume so. Every person must sell it for less than they bought it to earn the benefit.

Originally posted by AThousandYoung
Clarification request: the 'original price' mentioned is the price any individual paid for it, not the original price of 1,000,000 I assume. Right?

Yep.

Originally posted by Mephisto2
Under the following two assumptions, I would not buy it at any price:
1) giving it away for 0£ is not a valid 'sale'
2) the population I am dealing with is at least as clever as I am.

Why? Reasoning back from a purchase of 1£ the person could not get rid of it, and therefor would not buy it. The same holds for the person who gets the offer at 2£ , 3 ...[text shortened]... d a customer for it, perhaps even with a huge gain 😀

edit. even assumption 1 is not needed.

This is why I think the question is interesting. Among perfectly rational beings, say Vulcans, no one would buy the amulet at any price. But because we know that other humans are irrational, we know we may in fact get a buyer for the amulet, a buyer who uses exactly the same logic!

So what's the lowest price you think you could sell it for here at RHP? And to whom???

Originally posted by Pawnokeyhole
This is why I think the question is interesting. Among perfectly rational beings, say Vulcans, no one would buy the amulet at any price. But because we know that other humans are irrational, we know we may in fact get a buyer for the amulet, a buyer who uses exactly the same logic!

So what's the lowest price you think you could sell it for here at RHP? And to whom???

RBHILL

Originally posted by royalchicken
RBHILL

Lol, and for £999,998 (a 'sale' offer).

There are no adverse effects of selling it at a price higher than you bought it.
So some people can choose to go to heaven by selling at a lower price
and some people can choose to make money by selling it at a higher price to people who want to resell it lower

You could just buy it for a million.


Sell it to your friend for 1 dollar less, who sells it to you for 1 dollar less, then sells it to someone else for 2 million.

You both go to heaven, and you can pocket 1 dollar.

You're all missing the point of salesmanship. You don't have to tell them that this amulet sends you to heaven if you sell it at a lower price. Just tell them it's a cheapo gold-plated necklace and flog it to them for a tenner.

Originally posted by jimmyb270
You're all missing the point of salesmanship. You don't have to tell them that this amulet sends you to heaven if you sell it at a lower price. Just tell them it's a cheapo gold-plated necklace and flog it to them for a tenner.

I don't think money's the issue here. I mean, if there was a heaven, you shouldn't be able to buy your way in. That should just send you to hell.

In the end, someone won't be able to sell it. Should they spend an eternity in hell for your ass? I don't think so. That's just wrong on all accounts.

Sorry if no one got the sarcasm in my previous post.

Since neither magic, heaven nor hell exist, you forget the whole damn thing and go about your daily business.

Assuming you have the million available, you buy it sell it to your buddy for $5, he then sells it back to you for $4, and you then resell it for $2,000,000. Your buddy goes to heaven, and you walk away with the same fate you walked in with (since one assumes you can't go both to heaven and hell), and an extra million in your pocket.

Originally posted by lukemcmullan
Since neither magic, heaven nor hell exist, you forget the whole damn thing and go about your daily business.

How boring.