Giffen Good
I state the Pkins are an example of a "Giffen Good", which as the first paragraph of Wikipedia goes is:
"In economics and consumer theory, a Giffen good is one which people consume more of as price rises, violating the law of demand. In normal situations, as the price of such a good rises, the substitution effect causes people to purchase less of it and more of substitute goods. In the Giffen good situation, cheaper close substitutes are not available. Because of the lack of substitutes, the income effect dominates, leading people to buy more of the good, even as its price rises."
Today I assume the Pkins have no value based on the zero hit rate or counter-offers for the auctions on:
www.threadingvalue.com/pkinauction
Presumably the retain some intrinsic value as I offered them at prices greater than zero. However, this presumption rests on me making sound, rational intrinsic value judgments.
So either I have a value system unidentifiable to others rectifiable in no current valuation circumstances or my valuation parameters and assumptions are enormously out of market but flexibility is possible for negotiated value.
Because I can not extract financial value out of the Pkins and at best case I would sell them for an upfront payment of maybe $1 million with significant royalties, they are a cost. They take up a few cubic feet in my Manhattan apartment. And in a closet which is the highest cost/sq ft. They cost me something around $1500-$2000 a year of storage cost. The more I create, the more cost they require. The longer I hold on to what is inevitably financial valueless trash, the more cost I bear. But the more I want to hold on to them for the fleating hope that they are not trash.
The hope exists because:
"They are trash. Today.
But tomorrow they need not be trash,
If faith is true."
I'm holding on to Giffen Goods in quantity. Currently there are probably ~700 Pkins. (Un)fortunately they are not expanding very rapidly anymore.