I’m up late trying my hardest to rid myself of stuff. My friend, Bryan, reminded me that you really do “live” with your stuff. It’s me, my wife and our stuff.
And I have entirely too much stuff. There are some big ticket items to get rid of (including about 100 t-shirts) and I just need to do it ASAP. I’ve posted a lot on Craigslist, hoping to make a few bucks in the process, but then there is this economics lesson nagging at me.

Once you have spent money on something and you own it, that price/value is a sunk cost. If I paid $5 a shirt for the 100 shirts I thought I’d sell at a profit, no matter what happens I’ve already spent that $5, it’s sunk. So, when I have to get rid of them I’m desperately trying to make my $5 back, but the truth is that cost is gone, and their value is only going to be what someone will actually pay for them. If I can’t sell them for $5 a piece it’s silly for me to just keep them because I don’t want to “lose money” on the deal, I already did lose money.

Thank you economics class.
So how much will you pay for these shirts?