Words of Wisdom Long Time Ago Still Hold True Today. In my Real Estate training class today, I was given this Poem on prices. And I like to share it with you.

Price Poem

John Ruskin (1819-1900)

It's unwise to pay too much. But it's worse to pay too little. When you pay too much, you lose a little money, that is all. When you pay too little you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do.
The common law of business balances prohibits paying a little and getting a lot. It can't be done.
If you deal with the lowest bidder it is well to add something for the risk you run.
And if you do that, you will have enough to pay for something better.
There is hardly anything in the world that someone can't make a little worse and sell a little cheaper - and people who consider price alone are this man's lawful prey.

I think this is true in many situations. For examples, bidding for the lowest price possible to have your roof fixed, but you might end up paying more in the end, because the person offered the lowest price might not get the job done right the first time. Or the agent who says he can list your home for a very low commission might not provide the service necessary to sell your house quickly at a fair price...Etc.