Writing an article about price and value has been on my mind from last 4-5 years. Today, I have just decided to pen it down. Often, we use word ‘value’ and ‘price’ like they are synonyms, but, they are really NOT!

Price is something which we can pay. That’s why when we shop we check ‘price Tag’ and not ‘value Tag’. On the other hand, value cannot be ‘paid’. That’s why we say a person has ‘values’ or one should ‘value the time’. Word ‘value’ is to be used when we can’t express cost of something in the form of money. Emphasizing more on semantics, value of a thing is quite subjective whereas price is objective.

The motive of writing this article today’s world, where we often see people forgetting the fine line between price and value. Expensive gadgets, accessories which come with a price are often the measurements by which we value a person. We should understand that objects can be cheap or expensive but people are ‘valuable’.

Let’s try to understand this difference more technically. What we pay is ‘price’ and what that thing is ‘worth’ is its value. The best example could be any all-time classic book, say a complete collection of short stories of O.Henry; the price of it could be a few bucks, but its value? For a literature lover it would be invaluable, wouldn’t it?

When I think about price and value, one comparison inevitably comes into my mind. Let’s say if there is orphanage where people regularly visit. There is a small donation box kept at the door of the orphanage. Say, a rich high-profile, millionaire IT manager comes, writes a cheque and makes donation of 1000 bucks. Then comes a social picnic of a school where a little girl puts all coins from her piggy bank into the box, every penny she was saving for her new doll. May be her total wouldn’t even rich 10 dollars, so no doubt the price of the donation made by the manager will be much higher. But, Can you say the same about its ‘VALUE’? At least I can’t.

What do you think about price and value of things in our day-to-day life?
Let Me Know..

 – Gaurav Pande