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The Value of a Good Story
 
A Good Story Increases Perceived Value

Key Points
Study showed common items increased in value with a good story How a home is staged and presented tells its own story Adding a seller letter allows the right story to be told  
Can a good story actually add value to a piece of junk? These stories turned $128.74 worth of garage sale junk into $3,612.51?
Rob Walker and Joshua Glenn founded the site, SignificantObjects.com which showcases the value of a good story. They had writers buy cheap items for a dollar or two at thrift stores or garage sales. They then created a fictional story about the item and put them up on eBay.
The stories were clearly fictional. They didn't make any claims that the item was a rare or valuable collector's piece. The stories just seemed to make these objects "significant" which translated into people paying much more than they did when they were just sitting on the shelf of a thrift store.
The penguin creamer which was purchased for $3 ended up selling for $31 when a story was attached to it.
People seem to be willing to pay more when emotions are involved in the purchase decision. Tap into the ... more

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