What is a label worth? From my point of view, it is 0€ but many heard points. Let us take for the heard points the symbol ♠. A Chiquita-Minion or a Dole-Visit-My-Farm has got very few heard points ♠ and a Bavea many ♠. My question is, are we able to measure the number heard points of each label with the data we have got here in the catalog?
Following example: We know the year of issue. A new label has got in general less heard points then a very old label. We can say for example a label of this year has got the value of 1♠ and a label that is 50 years old and is from 1969 of - lets say - 250♠. So I would suggest to do a balanced trade of a 50 year old label only if you get 250 new labels in exchange. This is the idea of heard points. Having said this, we like to get now the perfect formular to have balanced trades. That means: When we only focus on the year of issue than the number of heard points of a banana label B could be:
Heard Points (B) = (1 + year of today - year of issue(B)) × 5
The '+1' is to get at least a value of 1♠ heard points for a label from today. But this formular is not realistic, because it suggest to trade 5 labels from this year in exchange for only one label from last year. So a logarithmic function can be much better
Heard Points (B) = int(log₂ (1 + year of today - year of issue(B)))
This formular gives for a 10 year old label 33 new labels and for a 50 year old label 282 labels in exchange. Maybe this is a basis we can start with.
What else do we have next to the age of a banana label?
- The age of the label. Old labels have got more heard points then new ones.
- How much is the lable liked? If it has got many 5♡ then it is more worth than a label with only 1♡ in average. And maybe we should ignore the votes from llecha, because he really has got a bad taste. 8-)
- How rare is the label? If the label is in the collection of many collectors than it has got less heard points, then when it is only in one or two collections
- How many collectors offer a label for trade? If you get the label only from one collector, than it is difficult to get and has got more heard points then a label everybody is offering for trade.
- Where is the label from? If we have got a label from the Philippines, where we do not have many collectors then this label has got more heard points then from Ecuador, where potentially many trade pardners will offer this label for exchange.
- How many labels do we have from this country? Is it for example from Somalia where we do only have few labels than it has got more heard points then a label from Ecuador, where we do have some thousands.
- Is the label veryfied. Labels that are not veryfied have got less heard points then labels that are banana labels by 100%.
- If the label is only of the type certification than it has got less heard points than the normal main label. Same with the quality labels, promotions, box labels or wrappers.
- Labels with the motif 'Miss Chiquita', 'Dole Sunbeam' or 'Del Monte' have got a less value, because they come in masses.
- If the label is in a catalog entry with many labels then it is possible it belongs to a huge set or there are many of the same kind and has got a less number of ♠ compared to a label that has got only few labels in the catalog entry.
- If a lable is flagged as a special trade label of someone, then it will get some bonus ♠.
- How long is the label in the catalog? If it is just added, is brand new and you really like to have it now and do not want to waint, than it has got obviously more ♠
What else can we consider to measure the heard points of a label automatically by a computer program?
And well, the trick is now to build a clever formular, where the result is easy to understand. That gives for example for a standard label you find now in the stores 1.10♠ and for a Dole-Visit-My-Farm only 1.00♠. So let us start with a table that has got for each label of our catalog 12 columns. Each column stands for the above mentioned measure criterias. So the first column is for the age and has got values between 1 and 282, because no label that is older than 50 years is offered for a trade. And then we can rank the criteria and can say for example, criteria 1 is more important then criteria 6. After all the calculations we add all 12 results together and normalize, so the lowest value is 1.00♠.
What do you suggest? Any ideas how to continue? Can you make the formular more concrete?
to be continued ...