Very Pricy Real Estate

Joining a growing number of people who are selling their burial plots for some extra income, Elsie Poncher is auctioning her late husband’s crypt on eBay, hoping to use the proceeds to pay off the $1.6 million mortgage on her house in Beverly Hills. As NPR reports, Poncher has an advantage over most grave sellers: the crypt she’s selling is above Marilyn Monroe‘s. The original winning bid for $4.6 million fell through, but the runner-up bid will likely be in the multi-million neighborhood. [%comments]

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  1. Ian McKay says:

    Maybe the original bid fell through because she was shill bidding? Hmmmmmmmm

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  2. CK says:

    “No longer able to pay for health insurance, Jenkins stopped taking her blood pressure and asthma medications and promptly had three minor strokes and two heart attacks.”
    But who needs an affordable public health care option…

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  3. Anonymous says:

    Although this situation attracts negative perception and might be perceived as insane it’s actually economically sane. Behind this there’s a potential market especially for Elsie Poncher. The fact is that she has some advantage over people that are selling burial plots elsewhere. Consider her plot as the Rolls Royce of burial plots. Her plot is scarce, in fact unique which should determine the expense. The truth is that people will pay what they believe is worth it, and I doubt it that there’s anyone there that isn’t dying to be buried next to the famous. She has a scarce resource that is placed in an auction. It couldn’t get any better for her. The truth is that an auction is the best option to determine the highest value a person has towards this burial plot. She will gain the most profit towards an auction in contrast to a specific price. And the purpose of a business is to make profits, which Elsie has been trying to do. Even though it sounds unusual and outrageous she might be able to pay her expensive mortgage through exploiting the maximum out of the scarcity that lies in her hands. But at the end there’s only one that would be able to follow Marilyn Monroe to eternity and it is the one that values the plot the most.

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  4. Anonymous says:

    Although this situation attracts negative perception and might be perceived as insane it’s actually economically sane. Behind this there’s a potential market especially for Elsie Poncher. The fact is that she has some advantage over people that are selling burial plots elsewhere. Consider her plot as the Rolls Royce of burial plots. Her plot is scarce, in fact unique which should determine the expense. The truth is that people will pay what they believe is worth it, and I doubt it that there’s anyone there that isn’t dying to be buried next to the famous. She has a scarce resource that is placed in an auction. It couldn’t get any better for her. The truth is that an auction is the best option to determine the highest value a person has towards this burial plot. She will gain the most profit towards an auction in contrast to a specific price. And the purpose of a business is to make profits, which Elsie has been trying to do. Even though it sounds unusual and outrageous she might be able to pay her expensive mortgage through exploiting the maximum out of the scarcity that lies in her hands. But at the end there’s only one that would be able to follow Marilyn Monroe to eternity and it is the one that values the plot the most.

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  5. TsaiCMS says:

    Marilyn Monroe was a huge celebrity phenomenon everybody wants to be besides with. The opportunity to be besides such an important person in history, in death, is obviously highly valued by people who are trying to buy this specific crypt above Monroe. There is only one Marilyn Monroe, therefore the spaces to be beside her are scarce, leaving the price of the crypt to be overpriced. The one (most probably a male) who gets to rest on the crypt above Monroe will be the person who values it the most, the person who is willing to pay the most for it. Of course, just like they are moving Mr. Poncher out of the crypt, whoever wins can be easily removed out of the crypt by a family member or something of the sort. Of course this is not ethical to do, just as removing Mr. Poncher from his resting place is unethical to do in the first place.
    Selling this piece of Real Estate will definitely solve her problem of house mortgage, and most likely leave her with some profit. Whoever it is that wins the eBay auction, may he/she be happy staring at Marilyn Monroe for the little time he/she will be occupying the crypt.. or forever!

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  6. KocsenCMS says:

    This is a sad truth that many Americans face at the moment. Like I was taught in class: Scarce Resources, Unlimited Wants. The issue with Poncher clearly relates to the topic. However, Poncher is fighting against VITAL WANTS. This means that she is using up the ‘useless’ capital that provide no resources and she has to give it up in order to gain a marginal profit so she can get by. My best advice to her is to think rational; to think at the margin. Everything, absolutely everything, occurs at the margin. They are minimalistic, yet important adjustments.

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  7. Alberto Lalo CMS says:

    Well, to me this seems a bit absurd. This is because, i dont think a dead person will mind were they are buried, and i really dont think that they will be able to brag to anyone that they are buried above Marlyn Monroe. This could probably explain why the original bid fell through. It seems to me that the only reason why someone would buy that spot in the graveyard is because they can. Some people simply have that money to “throw away”, instead of using it on something more productive. It is though, a somewhat yet disturbing idea to auction of a tomb. In the end, the one that you will always end up losing in a perfect market is time, but i guess that when your dead, time is not really of any use, seeing as “your time is up.” Good luck selling your tomb, and hopefully Marlyn Monroe wont get out of her’s for this, some what ridiculous act.

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  8. rick says:

    Why would anyone pay millions for a place to deposit their body? There is no economic benefit. I suppose the same can be said for bequeathing sums for charitable organizations or university buildings but in those cases at least there are lasting benefits.

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