For Subscribers

In Short Supply

5 ways to use scarcity and exclusivity to fuel sales and boost your bottom line

learn more about Kim T. Gordon

By Kim T. Gordon • Jun 1, 2004

Opinions expressed by Entrepreneur contributors are their own.

Remember the last time you stood in line to get into a hot newclub or eagerly searched the Web for a rare, prized collectible?Scarcity and exclusivity drive demand. They make us long for whatseems hardest to possess, and we'll move mountains-and spendfortunes-to acquire the objects of our desire.

About 14 years ago, a Japanese collector purchased VanGogh's "Portrait of Dr. Gachet"-a rare and uniquework by an artist who sold only one painting in his entirelifetime-for $82.5 million. Today, that remains the highest priceever paid for a piece of art at auction. And in 1999, a one andonly item, Lou Gehrig's last glove from his final game on April30, 1939, set world records by selling for the astonishing price of$389,500.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Editor's Pick

Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
Business News

Frontier Airlines Just Announced Its All-You-Can-Fly Summer Pass for $399. What's the Catch?

As travel begins to pick up, the airline hopes unlimited travel will jumpstart its business.


2 Key Marketing Tactics to Increase Brand Awareness and Credibility

Here are two strategies to increase brand awareness and perceived value. Combined, these two strategies are useful for increasing your brand's credibility, especially on social media.

Business News

This New AI Technology Will Turn Your Ex Into a Red Flag, Snake or Even a Dog

Picsart's "Replace My Ex" might be the next-best solution for the heartbroken.

Business Plans

How Startups and Investors Can Thrive in the Current Economic Environment

Despite the bad news in today's economic environment, startups must refine their business strategy, and VCs must take advantage of less competition to invest.