When I was a teenager, one day, my dad came home with four huge trays filled with beautiful flowers and small plants. He helped one of his clients at the famous Flower Auction in Aalsmeer (NL), and when leaving, they gave him these trays as a thank you. He gave them to my brother and me, saying, “Here you go, now you can earn some extra pocket money.” We went from house to house in our neighbourhood, selling the colourful products for 2,50 Dutch Guilders each (the currency before the Euro). That’s where I learned about the Fair Price Phenomenon.
Most people answering the door were amazed by the beautiful colours and quality of what we had to offer, but nearly everyone started to negotiate and offer 1.00 Dutch Guilder only. Or, they would say, I take three plants for 3.00 Guilders. Well, you can imagine my disappointment. We stopped after two of our four trays were half empty.
That evening we asked our dad for advice; after all, he was in Sales.
He taught us about the Fair Price Phenomenon. We sold all our flowers the next day – at the full price!