A widely accepted economic fact is that something is worth what someone is willing to pay for it. That holds true whether the item in question is a signed baseball, a new car, or a dinner at a restaurant. It also applies to real estate. When you decide to price a piece of property for sale, what you paid for it, how much you owe on it, what you’ve invested in it, what you’d like to get for it, or what you think it’s worth is irrelevant.