I remember before I started my agency 18 years ago, one of the last guys I worked for was rich, doing a few million a month. He just upgraded his home audio system and offered to give me 50% of whatever I sold his old system for. Was like a $10-20k system, so I was all about it.
First, I couldn’t understand why he would “give me” so much of the money if I sold it.
Second, he changed his mind and scraped the whole idea. I don’t know wha he did for sure, but it felt like his plan was now just to donate and offload it.
I couldn’t wrap my head around either.
Now, I totally get it. I give away stuff of value all the time.
Why? Opportunity cost.
I just upgraded all my equipment for the new year.
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If I sell it in a local classifieds I have to dedicate endless wasted time moderate text messages from tire kickers. Then drive somewhere to meet someone, or have a tire kicker show up at my house. No thanks. Just the thought of that is so much of a mental drain.
I could sell it online. But then I have to take pictures, list it, moderate inquiries, and if I sell it I still have to package it and drive to the post office. IF I sell it the first time, and online, I might break even.
Or, I could donate it and write it off. Or, I could sell it to a friend for cheap for no questions asked to help them level up.
Is saving a few bucks on that thing reaaallly actually saving you a couple bucks? As your income changes, adjust how you value your time.
