You’ve heard the expression, “One man’s trash is another man’s treasure“? Or… “Beauty is in the eye of the beholder“. Well, this blog is about value, even when there are differing opinions. More on that in a second.
But first, I don’t even know why I am posting this for Our Monday Blog, but it just makes me laugh. When I saw this on instagram (I would give credit but I’m not sure where I saw it), it spoke to me about misplaced good intentions. The holiday season…A lot of giving and good thoughts, but maybe not good ideas.
(See what I mean?)
If you are in search of a tree, this might be an idea, if you have a cat. I guess it’s planning for the inevitable. (Since I’m not a cat person, I am posting this as sent to me. Makes sense.)
I always feel that a discussion of coffee on a Monday, is timely. I’d say not to read this during breakfast, but there are people drinking this coffee during their breakfast. It’s the story of Kopi luwak.
The Specialty Coffee Association of America describes its taste as “a general consensus within the industry…it just tastes bad”. Yet, it is a very expensive “bad coffee”. Why? Well, here’s the story.
Kopi luwak is the name for any coffee beans that are collected from the excrement of civets. The beans are fed to these cat-like animals, collected, roasted, aged and then brewed. Here is the wikipedia story. It makes it easier to just attach, because I really don’t want to write more about the specifics. (Much like discussing Indianapolis Colts football. Best not to discuss!)
For the point of this blog, I do need to reference the price of this Indonesian coffee. Retail prices reach as high as $700 for 2.2 pounds. I checked on Amazon for the farmed version, and it is currently selling for about $25 for a 3.5 ounce bag and marketed as “The World’s Most Exclusive Coffee“.
To me, this story shows again that one person’s trash is another person’s treasure. What is the value of something? Whatever someone is willing to pay. It probably also reminds of of the power of marketing.
I have written about this concept value in other blogs. In a jury trial, when discussing losses, it requires a juror to consider the evidence of value, not what they necessarily consider the value to be.
If someone lost their entire warehouse of Kopi luwak to a flood, it would be easy to consider that there is no value, and therefore no loss. And yet… there is value because critics admit, “It’s not that people are after that distinct flavor. They are after the rarity of the coffee”.
And finally, our pic o’ day