Tuesday, April 19, 2011

The Truth about Inflation

I recently finished a hoodie made from the Leisure Arts booklet “Knit Hoodies for Kids”. It was a rather easy, simple pattern that I am sure to use again. I was trying to find a link where a booklet like this can be purchased to recommend it to others who might be interested. The first place I looked was Amazon.com and was astounded to find that the only one available was a used copy at…….are you ready?.......$282.42!!! I nearly fainted when I realized that the $8.95 book I bought might be a collectors item and out of print. I suspect this must be a mistake but it gave me quite a jolt. I have since found other copies online selling at as low as $7.95.

It made me recall a time I was looking for a fair isle book from Alice Starmore, a very famous reclusive and exclusive knitter from England, many years back. Everywhere I looked, this book was not available and there was no reprint date listed. I had heard this was one of the best books on Fair Isle knitting written. Fortunately, I found a copy in the United Kingdom on ebay, that of course, was inflated in cost but reasonable as opposed to the over $100 prices the US dealers were asking for. I caved and purchased the book, thinking that if ever I needed to unload something for some quick cash, I could always sell this book at the inflated prices as the current supply and demand market seemed to indicate at the time. I was even considering including it in my will and final instructions, so my heirs would not give it up frivolously when I was gone. Several years later, it was announced that Alice Starmore publishers was reprinting the book in “Paperback”! My dreams of having something of value came crushing down as the prices normalized. It did teach me a good lesson to take things at face value and in patience. If I have waited, I would have save myself some money.

I don’t know if the above example is what is happening to the “Hoodie” book or is it a case where some greedy seller trying to make a buck from trying to sell a good pattern book for over $200. Sometimes we are blinded to the truth. In reality, no one has taken the seller up on his offer. It’s nice to know that most people are not foolish and know they can get it cheaper at $7.95 or wait until it is reprinted.

With the economy so unstable, it should not be so surprising that desperate people will try desperate things and this could be one of them. I do hope that Amazon will be prudent and not be the means of fooling people into these overpriced schemes.

No comments: