[econrebuttal1]

friction and transaction costs exists in our world which are absolutely factors that would delineate the economic utility of purchasing a new luxury item from selling an already owned luxury item.

Spend $2. Receive album worth $1000. Make $300 an hour at job. Have no immediate use case for $1000 in cash. Have somewhat immediate want for music on that album.

Time to sell album with high quality images/ description, deal with questions from discerning buyers (tire-kickers), post the album: 4 hours

Opportunity cost- $1,200 Sale value - $1000 Replacement album cost - $20

Deciding to sell would put this hypothetical guy down $220 vs just listening to his cool, potential appreciating album and working for the same amount of time.

[happyraul]

I don't think it's useful to account for time spent outside of work by the same hourly income as a way to measure how much something costs. By that logic, spending an hour listening would also "cost" $300.