Of course I understand...
Of course I understand variance, you buffoon. However, we only have 1 data point. The sample of n=1 with a sample mean of $3300. What is the best GUESS for the population mean for a refurb. Eames? The correct answer is $3300, bozo. The sample mean. The actual population mean will be some standard deviation away from $3000, but with n=1, we have a large confidence interval? Once we have more data points, we adjust it. But, as of 8/15/13, the correct answer for my original question is $3300.
In fact, it appears that...
In fact, it appears that replacing the covers might actually INCREASE resale value (which is probably why the seller did just that)
Here is another vintage 60s Eames with ratty original covers. Sale price $790. One big variable besides overall condition of the rest of the chair is that the armrests were also repaired, so that is impacting price as well.
http://www.ebay.com/itm/Authentic-Eames-Lounge-Chair-and-Ottoman-Vintage...?
But, the question now arises, does replacing covers reduce the value, or is that just the preference of a handful of fetishist on a design forum? More data is required.
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