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Psydkik (Psydkik)
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Post Number: 386
Registered: 9-2013
Posted on Tuesday, October 22, 2013 - 2:04 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Jade bought a pot from an antique dealer on Monday at a cost of $500. On Friday, she sold it for $52,500. What did she do to it in the intervening days to increase its value by this amount?
Balin (Balin)
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Post Number: 125
Registered: 9-2013
Posted on Tuesday, October 22, 2013 - 2:13 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Did she commit a crime? More than one crime?
Is it relevant whom she sold it to? To an antique dealer? To the same antique dealer?
Did she sell the pot as if it were an antique?
Psydkik (Psydkik)
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Post Number: 389
Registered: 9-2013
Posted on Tuesday, October 22, 2013 - 2:19 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Balin:

Did she commit a crime? No
More than one crime? No

Is it relevant whom she sold it to? Not exactly but slightly

To an antique dealer? No
To the same antique dealer? No

Did she sell the pot as if it were an antique? Yes
Alexanderhamilton (Alexanderhamilton)
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Username: Alexanderhamilton

Post Number: 168
Registered: 9-2013
Posted on Tuesday, October 22, 2013 - 2:32 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Did Jade buy and sell the antique in different countries? Relevant which country she bought and/or sold the antique?

Would the average appraiser say the pot was worth $500 when she bought it? Would they say it was closer to $52,500 when she bought it?

Could she have sold the pot for $52,500 to the same buyer on Monday, if she had run into him? On any of the days in between?
Redwine (Redwine)
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Username: Redwine

Post Number: 369
Registered: 10-2013
Posted on Tuesday, October 22, 2013 - 2:39 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Was there anything relevant inside the pot? Did she discover something about the pot in time between buying and selling it?
Psydkik (Psydkik)
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Post Number: 390
Registered: 9-2013
Posted on Tuesday, October 22, 2013 - 3:00 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Alexanderhamilton:

Did Jade buy and sell the antique in different countries? Relevant which country she bought and/or sold the antique? She bought and sold it USA

Would the average appraiser say the pot was worth $500 when she bought it? Would they say it was closer to $52,500 when she bought it? It depends who they were and what they were asked... but both the buying price and selling price were a fair market price for the item

Could she have sold the pot for $52,500 to the same buyer on Monday, if she had run into him? On any of the days in between? Yes


Redwine:

Was there anything relevant inside the pot? No
Did she discover something about the pot in time between buying and selling it? No
Redwine (Redwine)
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Username: Redwine

Post Number: 370
Registered: 10-2013
Posted on Tuesday, October 22, 2013 - 3:04 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Was Jade a famous person, so that the fact that the pot belonged to her justify the bigger price?
Psydkik (Psydkik)
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Post Number: 391
Registered: 9-2013
Posted on Tuesday, October 22, 2013 - 3:18 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Redwine:

Was Jade a famous person, so that the fact that the pot belonged to her justify the bigger price? No
Alexanderhamilton (Alexanderhamilton)
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Username: Alexanderhamilton

Post Number: 170
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Posted on Tuesday, October 22, 2013 - 3:33 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Would the item have gone for $52,500 if she had sold it to another buyer? Did the buyer she sold it to have a specific reason for paying that much? Did it complete a collection?

Would it help to figure out the origin and age of the pot?

Did she know something about the pot the original seller was unaware of? Something that greatly increased the price?
Redwine (Redwine)
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Username: Redwine

Post Number: 372
Registered: 10-2013
Posted on Tuesday, October 22, 2013 - 3:34 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Did she decorate the pot? Did she damage the pot? Did she make the pot a part of something else?
When she bought the pot, did she buy also something else? Make another deal that justified lower price?
Psydkik (Psydkik)
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Post Number: 393
Registered: 9-2013
Posted on Tuesday, October 22, 2013 - 3:40 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Alexanderhamilton:

Would the item have gone for $52,500 if she had sold it to another buyer? Possible but unlikely

Did the buyer she sold it to have a specific reason for paying that much? No
Did it complete a collection? No

Would it help to figure out the origin and age of the pot? No

Did she know something about the pot the original seller was unaware of? No
Something that greatly increased the price? No


Redwine:

Did she decorate the pot? No
Did she damage the pot? No
Did she make the pot a part of something else? No

When she bought the pot, did she buy also something else? No
Make another deal that justified lower price? No
Redwine (Redwine)
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Username: Redwine

Post Number: 375
Registered: 10-2013
Posted on Tuesday, October 22, 2013 - 3:54 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Did the Friday buyer know something about the pot that was not known to Monday seller?
Did Jade sell the pot to the same person it was bought from?
And if the last is no:
Could the Friday buyer have bought the pot from Monday seller on Monday? In that case, would the price had been $500? $52,500?
Psydkik (Psydkik)
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Post Number: 395
Registered: 9-2013
Posted on Tuesday, October 22, 2013 - 5:02 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Redwine:

Did the Friday buyer know something about the pot that was not known to Monday seller? No

Did Jade sell the pot to the same person it was bought from? No

And if the last is no:
Could the Friday buyer have bought the pot from Monday seller on Monday? Possibly

In that case, would the price had been $500? $52,500? Probably $500; possibly about $52,500
Ixoye724 (Ixoye724)
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Post Number: 4231
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Posted on Tuesday, October 22, 2013 - 5:16 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Did Jade need the 4 days from Monday until Friday to create the condition by which she could sell the pot for that amount?

If the person she sold the pot to for $52,500 had been outside the place where she paid $500 for it, could she have simply walked outside, met the buyer and sold it for the same amount?

Did anyone besides Jade look at the pot during the four day period? Did Jade have any kind of test or evaluation done with the pot?

Is it relevant to know what the pot is made of?
Psydkik (Psydkik)
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Username: Psydkik

Post Number: 396
Registered: 9-2013
Posted on Tuesday, October 22, 2013 - 5:52 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Ixoye724:

Did Jade need the 4 days from Monday until Friday to create the condition by which she could sell the pot for that amount? No

If the person she sold the pot to for $52,500 had been outside the place where she paid $500 for it, could she have simply walked outside, met the buyer and sold it for the same amount? Yes

Did anyone besides Jade look at the pot during the four day period? Did Jade have any kind of test or evaluation done with the pot? No

Is it relevant to know what the pot is made of? No
Redwine (Redwine)
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Username: Redwine

Post Number: 378
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Posted on Tuesday, October 22, 2013 - 6:37 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Could similar situation have happened if Jade had bought a painting? A sculpture? An old book?
Did the pot have special value/quality to the Friday buyer, which was irrelevant to other people?
Did Jade buy the pot with intention of re-selling it?
Ixoye724 (Ixoye724)
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Username: Ixoye724

Post Number: 4234
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Posted on Tuesday, October 22, 2013 - 8:01 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Did Jade approach the buyer? Or did the buyer approach Jade?
Did Jade advertise or tell anyone that she had bought the pot?
Psydkik (Psydkik)
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Post Number: 398
Registered: 9-2013
Posted on Tuesday, October 22, 2013 - 10:34 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Redwine:

Could similar situation have happened if Jade had bought a painting? Yes A sculpture? Yes An old book? Yes
- assuming she could find a willing buyer, of course - this particular buyer wanted the pot.


Did the pot have special value/quality to the Friday buyer, which was irrelevant to other people? No, he just liked it

Did Jade buy the pot with intention of re-selling it? Yes


Ixoye724:

Did Jade approach the buyer? No
Or did the buyer approach Jade? Yes

Did Jade advertise or tell anyone that she had bought the pot? Yes - more 'show' than 'tell'
Ixoye724 (Ixoye724)
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Post Number: 4237
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Posted on Wednesday, October 23, 2013 - 2:52 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Had Jade met the buyer before she bought the pot?
Did she buy the pot because she knew she could sell it to the buyer for a hefty profit?
Or did she buy the pot intending to keep it for herself?
Was the pot a random purchase? Or did she go to the place specifically to buy the pot, knowing that it was there?
Psydkik (Psydkik)
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Post Number: 411
Registered: 9-2013
Posted on Wednesday, October 23, 2013 - 3:24 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Ixoye724:

Had Jade met the buyer before she bought the pot? No

Did she buy the pot because she knew she could sell it to the buyer for a hefty profit? No - she hoped she could sell it for a small profit.

Or did she buy the pot intending to keep it for herself? No

Was the pot a random purchase? Not random - it was bought for a reason, but Jade wasn't particularly interested in that particular pot.

Or did she go to the place specifically to buy the pot, knowing that it was there? No
Alexanderhamilton (Alexanderhamilton)
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Username: Alexanderhamilton

Post Number: 182
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Posted on Wednesday, October 23, 2013 - 4:56 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Could the average person have pulled off what Jade did? Or is some special knowledge of antiques necessary?

So if I'm reading your answers correctly, is the passage of time between the buying and the selling of the pot entirely irrelevant?

Is there some relevant personal detail about Jade? About the antique trader? About the buyer?
Psydkik (Psydkik)
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Post Number: 415
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Posted on Wednesday, October 23, 2013 - 5:04 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Alexanderhamilton:

Could the average person have pulled off what Jade did? Yes
Or is some special knowledge of antiques necessary? No

So if I'm reading your answers correctly, is the passage of time between the buying and the selling of the pot entirely irrelevant? Correct

Is there some relevant personal detail about Jade? About the antique trader? About the buyer? No
Redwine (Redwine)
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Username: Redwine

Post Number: 403
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Posted on Wednesday, October 23, 2013 - 8:15 pm:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Was the buyer just wanting to spend $52,500 for an antique?
Did Jade and buyer do any form of expertise to establish the value of the pot at $52,500?
Did Jade sell the pot face-to-face with the buyer? Was there more than one person interested in the purchase when Jade was selling the pot?
Did Jade buy the pot for herself? Did she represent a person? An entity?
Psydkik (Psydkik)
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Post Number: 420
Registered: 9-2013
Posted on Thursday, October 24, 2013 - 12:22 am:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Redwine:

Was the buyer just wanting to spend $52,500 for an antique? Yes in that he wanted to spend $52,000 on that particular pot, and it was an antique

Did Jade and buyer do any form of expertise to establish the value of the pot at $52,500? No more than the expertise of Jade and the seller to establish the value of the pot at $500

Did Jade sell the pot face-to-face with the buyer? Yes

Was there more than one person interested in the purchase when Jade was selling the pot? No

Did Jade buy the pot for herself? Did she represent a person? An entity? She ran a shop, selling antiques. She bought it to sell in her shop.
Wizardofnz (Wizardofnz)
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Post Number: 735
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Posted on Thursday, October 24, 2013 - 12:55 am:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Are we talking about the same kind of dollars here?

Would the $52,500 paid to Jade be considered, in terms of real currency, 105 times greater a sum than the $500 she paid the dealer?
Psydkik (Psydkik)
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Username: Psydkik

Post Number: 428
Registered: 9-2013
Posted on Thursday, October 24, 2013 - 1:16 am:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Wizardofnz:

Are we talking about the same kind of dollars here? No *guilty face*

Would the $52,500 paid to Jade be considered, in terms of real currency, 105 times greater a sum than the $500 she paid the dealer? Yes, roughly. Current exchange rate is 1:104.2


***************Spoiler***************

She bought the vase for 500 USD (US Dollars) on Monday. During the week, all she did was put it in her shop. A Jamaican tourist who hadn't enough local currency to pay for it, offered her 52,500 JDM (Jamaican Dollars), equivalent at the time to 504 USD, which she accepted because he was friendly or because she was planning on going to Jamaica soon and that saved her paying commission to exchange her money. So she made a four dollar profit: better than nothing.


And apologies to everyone who was expecting it to be a _proper_ puzzle, but got to keep you on your toes, eh ;-) Well done Wiz for putting an end to this silly puzzle and I'll try to get you a better one next time!
Psydkik (Psydkik)
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Username: Psydkik

Post Number: 429
Registered: 9-2013
Posted on Thursday, October 24, 2013 - 1:18 am:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Or, for that matter, my "Meeting" one which is open further up the board is much less silly and much more proper. :-)
Wizardofnz (Wizardofnz)
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Post Number: 738
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Posted on Thursday, October 24, 2013 - 1:24 am:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

I think it succeeds as a Lateral Thinking Puzzle, given that the solution came to me out of nowhere while I was agonising over an entirely different, and more conventional, line of questioning.
Psydkik (Psydkik)
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Post Number: 435
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Posted on Thursday, October 24, 2013 - 11:16 am:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

I certainly think it's lateral... I think though that it only succeeds because to start with everyone was expecting something more complicated because it was the LTPF ;-)

Maybe I should post a puzzle about a man that dies hanging in a room with a puddle of water, just to keep you all awake ;-)
Yojimbo (Yojimbo)
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Post Number: 304
Registered: 9-2013
Posted on Friday, October 25, 2013 - 2:42 am:   Edit PostDelete PostView Post/Check IPPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

I know that one: he dropped his electric razor in the water and got fried. No ice, midgets, or albatrosses involved. And he'd left his wheelbarrow outside the hotel? And the music had stopped?

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