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Classic Capitalism
Posted by: MichaelW on Wednesday, January 14, 2009

Does it say something about the primacy of capitalism that it's so inextricably connected to the world's oldest profession? Probably not.
A San Diego woman who is auctioning off her virginity said she has now received a bid of $3.7 million, according to a published report.

Natalie Dylan, a 22-year-old San Diego woman, said she got the idea for the auction after her sister was able to pay for her college education after prostituting herself for three weeks, according to the London Telegraph.

Dylan has a degree in women's studies. She told the paper she hopes to pay for an advanced degree in family and marriage therapy with the proceeds from the auction.
Someone snarked:
I'm amazed... this must be the first woman's studies graduate ever with the possibility of actually making money.
To be fair, she has seems to understand basic economics much better than most women's studies types:
She told the Telegraph that she doesn't think she's the only one who will be benefit from the auction.

"I think me and the person I do it with will both profit greatly from the deal," Dylan told the paper.
For that matter, she understands it better than nearly everyone in Washington or writing for a major news publication.

I have to wonder though, how hot must this woman be to justify $3.7 Million? I understand some blokes place a high value on virginity, but doesn't this seem a little extravagant? As long as their both happy I guess.

I'm also curious about the legal ramifications of this business deal. Leaving aside the obvious problems with prostitution laws, how does the Purchaser verify the Seller's goods are, er, intact? And how does the Seller compel payment, since the Purchaser could easily claim fraud (i.e. "those goods were used, not new!")? Where would they enforce such an agreement? In Nevada? Another country? What's the penalty for a default? Are there liquidated damages (no pun intended)? What if a child results from the tryst? What are the liabilities? What if the Purchaser gets stage fright and ... umm ... can't close the deal on the appointed date? Will there be a rescheduled closing, or is he just out his deposit? What would be the penalty if the Seller backs out at the last minute? Will she have an understudy? A standby crew? What if he closes too early? Will the Purchaser be allowed to assign all or a part of his interest in her "goods"? And, since this is purportedly her first "sale", will there be an impossibility clause if it turns out that the Purchaser's vehicle won't fit comfortably in her garage?

I could go on, but I'm pretty sure that these questions never get answered because the deal never gets done ... so to speak.

[HT: Bob Owens]

UPDATE:
I pondered above "how hot must this woman be to justify $3.7 Million?" Ask and your questions will be answered. I guess real estate ain't dead after all. Still, $3.7 Million? I guess ...
 
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I’m willing to bet the whole thing is a ruse, and we’ll see Miss Dylan pimping a book on the Today Show before the end of 2009. (Pun intended.)
 
Written By: Ronnie Gipper
URL: http://socalconservative.blogspot.com
The price is dirt simple to explain. High demand + extremely small supply = Extremely high prices.
 
Written By: Phelps
URL: http://phelps.donotremove.net
If the agreement does not specify a date, can the purchaser force the provider to remain virginal indefinitely?
 
Written By: Billy Hollis
URL: http://qando.net
The price is dirt simple to explain. High demand + extremely small supply = Extremely high prices.
Well, I’m questioning the "extremely small supply" part of the equation. Certainly for $3.7 Million there are other suppliers willing to be entered by the market enter the market.
If the agreement does not specify a date, can the purchaser force the provider to remain virginal indefinitely?
Typically there is a "time is of the essence" clause which would prevent such a scenario. In addition, a transaction for specific goods (such as real estate) usually requires some firm closing date so that the seller is not foreclosed from revisiting the market should the purchaser have difficulty completing the deal. Without those things, however, I would say that this deal has the potential to become a legal chastity belt.
 
Written By: MichaelW
URL: http://QandO.net
A San Diego woman who is auctioning off her virginity said she has now received a bid of $3.7 million, according to a published report.
Dammit! Looks like I was bested by $3.699645 million. I guess that’s what happens when one doses off at an auction.

I’m also curious about the legal ramifications of this business deal. Leaving aside the obvious problems with prostitution laws, how does the Purchaser verify the Seller’s goods are, er, intact? And how does the Seller compel payment, since the Purchaser could easily claim fraud...
Jesus Christ, man. Do lawyers ever clock out?
I pondered above "how hot must this woman be to justify $3.7 Million?" Ask and your questions will be answered.
You know, on second thought, maybe its good I lost the auction. Hot, yes. But she’s not worth $3.7 million. $2.8 maybe.
This bird reminds me of Mellisa Thomas, whose virginity I purchased for a half bottle of Meyers rum, two whopping lies, and a promise of control. Come to think of it, she might have not been the Vestal she said she was... but that’s my story and I’m sticking to it.

Cheers.
 
Written By: PogueMahone
URL: http://
It’s all a big scam to get on Oprah, Katie, View, and Factor.
 
Written By: RoddyB
URL: http://
I was going to write a blog post about this, but now I’m glad I didn’t. You had me chuckling from "liquidated damages" on. Epic post, Michael, and awesome follow-up comment.

As an aside: can you imagine if this is one big sting by the San Diego PD vice division?

On to the matter of the price:
I can see someone thinking she’s hot. I can see that, for that level of hotness, it’s pretty rare these days to find a virgin her age. (I might furrow my brow a bit at the idea that her complete lack of sexual experience makes the act more fun, but I accept that some people think so. It can’t be the strangest belief anyone’s ever attached to sex.) I can see that those conditional probabilities make a lady willing to sell those services a very rare find. And she’s hit on a very good idea by doing an online auction (despite the legal issues).

I congratulate her on being able to retire at 22 if she uses the money wisely, and since both parties are freely consenting, I say more power to the purchaser of said services.

But even taking into account Ms. Dylan’s advantages, $3.7m for one night seems mighty steep. Limited supply doesn’t change the fact that there are a lot of substitute goods and services that could make most of us much happier for much longer for much less. How much work did this fella have to do to make $3.7m, and now he’s blowing it all in one night?

Well, I certainly hope he’s not disappointed.

And perhaps, now that girls everywhere see the market value on virginity, they’ll start guarding it more jealously. Could a highly successful prostitution transaction result in a dramatic drop in teen sex?

On the other hand, as Michael mentioned, such widely-broadcast, massive profits combined with the one-off nature of market entry and exit can only mean that more new entrants will be attracted into the market.
 
Written By: Bryan Pick
URL: http://www.QandO.net
If she is a virgin, she has a lot to learn before she’s a good lay. At least, that’s been my experience.

I suppose there is a thrill of being the first there and all, but I prefer a chick skilled in such matters.
 
Written By: Don
URL: http://
How much work did this fella have to do to make $3.7m, and now he’s blowing it all in one night?
What chance the winning bidder ends up being Paris Hilton?
 
Written By: unaha-closp
URL: http://warisforwinning.blogspot.com/
No one’s actually going to pay that much.

Men who are into virgins - seems to me maybe they don’t want any comparisons made to their size or performance....
 
Written By: Harun
URL: http://
I guess she’s placing the value on the virginity aspect, since there are so many willing women (not to mention working girls) that the actual value as a commodity of .....er, the "love canal" is pretty low.

By placing such a high price point on what is basically a pretty cheap product, she’d fail marketing 101.

Plus she’s fugly
 
Written By: shark
URL: http://
If she is a virgin, she has a lot to learn before she’s a good lay.
Even if she were the best lay on the planet, the experience wouldn’t be worth $3.7 million.

Figure a typical hooker is worth $200 a pop, so to speak. $3.7 million would be 18,500 rolls in the hay, or one a day for some 53 years.
 
Written By: Steverino
URL: http://
Quantity has a quality all of its own.
 
Written By: Harun
URL: http://
Much more fun to be with a lady with some experience. Virginity is very overrated, especially for a 22 year old, geesh.
 
Written By: kyleN
URL: http://impudent.blognation.us/blog
I say give her to a potential suicide bomber as a down payment for his martyrdom.
 
Written By: McQ
URL: http://www.QandO.net
She ain’t all that, and much is revealed (no pun intended) by how she dressed for the picture. If you want to take a girl like that at her word that she’s a virgin, it’s your risk.

Bryan, this would increase the number of young women staying virgins only as long as, with all other things, the current market price is high enough for any given seller to be willing to part with the goods. The marginal supply of 22-year-old virgins is quite small. If word got around that auctioning off virginity can be so profitable, the marginal supply would naturally increase. I’d expect the supply to be quite elastic, but a problem for these girls is that the demand would probably be even more elastic.

And we’re assuming the bidding is legitimate, anyway. The ruse is likely on both ends. I think it was back in ’99, in eBay’s early days, when some young pre-teen "boy" auctioned his virginity. It was pulled quickly and eventually revealed as a joke, and would-be buyers were no less insincere, either, having offered bids into the millions of dollars.
 
Written By: Perry Eidelbus
URL: http://eidelblog.blogspot.com
"and now he’s blowing it all in one night"

Uh, wrong pronoun.

"Plus she’s fugly"

Worst case of sour grapes I have ever seen.

On the other hand, what does he look like? If he is a Quasimodo lookalike, perhaps the price is a bargain for him.

Ironic, though, that a woman’s studies major treats herself as a sexual commodity. Betty Fridan is spinning in her grave.
 
Written By: timactual
URL: http://
She ain’t all that, and much is revealed (no pun intended) by how she dressed for the picture. If you want to take a girl like that at her word that she’s a virgin, it’s your risk.

Bryan, this would increase the number of young women staying virgins only as long as, with all other things, the current market price is high enough for any given seller to be willing to part with the goods. The marginal supply of 22-year-old virgins is quite small. If word got around that auctioning off virginity can be so profitable, the marginal supply would naturally increase. I’d expect the supply to be quite elastic, but a problem for these girls is that the demand would probably be even more elastic.

And we’re assuming the bidding is legitimate, anyway. The ruse is likely on both ends. I think it was back in ’99, in eBay’s early days, when some young pre-teen "boy" auctioned his virginity. It was pulled quickly and eventually revealed as a joke, and would-be buyers were no less insincere, either, having offered bids into the millions of dollars.
 
Written By: Perry Eidelbus
URL: http://eidelblog.blogspot.com
Sounds like a niche market to me.
 
Written By: Achillea
URL: http://
According to http://www.associatedcontent.com/article/1382611/natalie_dylans_virginity_now_worth.html?cat=9 the transaction will take place in Nevada, and she has offered to have a medical examination.

It does make Indecent Proposal seem a little more plausible now.
 
Written By: Phlinn
URL: http://

 
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