So it's worth $500k, how much will you give me for it?

$1 dollar.  That should get the ball rolling.  I wonder how often marketers abstractly anchor us at a higher price even though they know they can accept much less.

A while back I had a discussion about pricing over on the Sellsius blog.  The author suggested that you could get a better price by not actually anchoring the final value by putting a list price on the home.  Let the market determine the price.  In our discussion in the comments, he pointed out a study that he says supports his approach.  I disagree with the 1$ listing as much as I disagree with range pricing, but the study is actually a good one.

It shows how much people are influenced by arbitrary factors when deciding what they would be willing to pay.  If I read it right, arbitrary factors would include something as meaningless as a suggested retail price.