The Economics of Gold-Digging, Women are Depreciating Assets

I didn't see this anywhere in ATS, so I think it's time people read this exchange from a Craigslist posting in 2007. At the end I've posted a New York Times article that analyzes the economics of this post - it's fascinating and funny too. This post is not meant to be sexist, just something to think about while getting a good laugh.

The first post on Craiglist:

What am I doing wrong?

Okay, I’m tired of beating around the bush. I’m a beautiful (spectacularly beautiful) 25-year-old girl. I’m articulate and classy. I’m not from New York. I’m looking to get married to a guy who makes at least [a] half a million a year. I know how that sounds, but keep in mind that a million a year is middle class in New York City, so I don’t think I’m overreaching at all.

Are there any guys who make 500K or more on this board? Any wives? Could you send me some tips? I dated a businessman who makes average around 200 – 250K. But that’s where I seem to hit a roadblock. 250,000K won’t get me to Central Park West. I know a woman in my yoga class who was married to an investment banker and lives in Tribeca, and she’s not as pretty as I am, nor is she a great genius. So what is she doing right? How do I get to her level?

Here are my questions specifically:
- Where do you single rich men hang out? Give me specifics- bars, restaurants, gyms.

- What are you looking for in a mate? Be honest guys, you won’t hurt my feelings.

- Is there an age range I should be targeting (I’m 25)?

- Why are some of the women living lavish lifestyles on the Upper East Side so plain? I’ve seen really “plain Jane” boring types who have nothing to offer married to incredibly wealthy guys. I’ve seen drop dead gorgeous girls in singles bars in the East Village. What’s the story there?

- Jobs I should look out for? Everyone knows — lawyer, investment banker, doctor. How much do those guys really make? And where do they hang out? Where do the hedge fund guys hang out?

- How you decide marriage vs. just a girlfriend? I am looking for MARRIAGE ONLY.

Please hold your insults — I’m putting myself out there in an honest way. Most beautiful women are superficial; at least I’m being up front about it. I wouldn’t be searching for these kind of guys if I wasn’t able to match them — in looks, culture, sophistication, and keeping a nice home and hearth.

And the response from a male:

Dear Pers-431649184:

I read your posting with great interest and have thought meaningfully about your dilemma. I offer the following analysis of your predicament. Firstly, I’m not wasting your time, I qualify as a guy who fits your bill; that is I make more than $500K per year. That said, here’s how I see it:

Your offer, from the prospective of a guy like me, is plain and simple a crappy business deal. Here’s why. Cutting through all the B.S., what you suggest is a simple trade: you bring your looks to the party, and I bring my money. Fine, simple. But here’s the rub — your looks will fade and my money will likely continue into perpetuity … in fact, it is very likely that my income increases but it is an absolute certainty that you won’t be getting any more beautiful!

So, in economic terms, you are a depreciating asset and I am an earning asset. Not only are you a depreciating asset, your depreciation accelerates! Let me explain: you’re 25 now and will likely stay pretty hot for the next 5 years, but less so each year. Then the fade begins in earnest. By 35, stick a fork in you!

So in Wall Street terms, we would call you a trading position, not a buy and hold … hence the rub … marriage. It doesn’t make good business sense to “buy you” (which is what you’re asking) so I’d rather lease. In case you think I’m being cruel, I would say the following: if my money were to go away, so would you, so when your beauty fades I need an out. It’s as simple as that. So a deal that makes sense is dating, not marriage.

Separately, I was taught early in my career about efficient markets. So, I wonder why a girl as “articulate, classy and spectacularly beautiful” as you has been unable to find your sugar daddy. I find it hard to believe, if you are as gorgeous as you say you are, that the $500K hasn’t found you, if not only for a tryout. By the way, you could always find a way to make your own money and then we wouldn’t need to have this difficult conversation.

With all that said, I must say you’re going about it the right way. Classic “pump and dump.” I hope this is helpful, and if you want to enter into some sort of lease, let me know.

Ah, the business of professional relationships in all its glory.

Here's the analysis over at Times (note the comments on this article are hilarious):

I have to say that the respondent has some pretty sensible economics in his answer. My guess, however, is that with that mindset he probably doesn’t have any more success with ladies than the gold-digging woman does with men. Just as politics often trumps economics when it comes to public policy, rational arguments rarely win the day in dating, love, and marriage.

More: www.freakonomics.com...

So what does ATS think?

She sounds like a prostitute to me.

reply to post by Jason88

LMFAO! Your post hit both nails on the head and left them both dead in the water! In other words, marry for love and nothing else. Thanks for posting

BTW..is that Clint Eastwood in your avatar? Its pretty cool

If she has to ask what she's doing "wrong", no advice in the world is going to help her. I find her description of herself most likely inflated (I mean, really how enticing is a woman who struts about and calls herself "spectacularly beautiful"?), and her envy of women who married well by disparaging those women's looks and not understanding how they were able to vault themselves onto that hallowed, monied pedestal, while she has been unsuccessful, says it all.

In a nutshell, she may have some fleeting looks, a worldly sophistication, and decorating skills, but she lacks heart and soul. To me, a plain woman taking good care of her kids, showing compassion to others, and genuinely enjoying life is more beautiful than a vain, preening, envious, high-maintenance, back-biting woman.

Of course, in the interest of full disclosure, I am female, but I have found that men are attracted to women that are happy, confident, and not materialistic.

As for the gentleman's response, although it seems sexist, I cannot help but agree with him. If all she is bringing to the table are traits that will fade with time (such as superficial beauty), and other traits that are undesirable (such as being a soulless, pissy complainer, with an undeserved sense of entitlement), she is definitely a pump n' dump stock.

Funny post, and an excellent example of the inner workings of the one-track-mind gold digger, and her male counterpart, who looks at relationships from a profit / loss standpoint.

I don't doubt for a nano-second that the girl's ad was legitimate. To be quite blunt: even women who are obese and unattractive still have an attitude of entitlement and insist on dating out of their league--something they're easily able to do because of the incredible lack of standards that so many men have. If these "less than a 10" types (or more accurately, all these "less than a 3" types) can afford to be so picky, then one can only imagine the mindset of a young woman who is genuinely top-tier. How gracious of this Craigslist queen that she might be willing to settle for a man who only makes 500k per year... I have no doubt whatsoever that she feels she is deserving of so much more.

reply to post by Jason88


Trashy, awful man and trashy, awful woman.

They were made for each other...

This article makes me sad.

reply to post by Partygirl


This shouldn't make you sad. It's an honest look at a type of dating behavior by those who feel entitled, it's actually quite funny because of what she values as her worth (beauty) does not add-up in terms economics over the long run. The moral of the story is marry for love.

ROFLMAO!! The hottest chicks (most) think they are entitled to a rich guy. I have a business that draws gold diggers in by the handful. One word about what I do for a living in a crowded bar and I am suddenly attractive.....

An old friend of mine is a chunky, short balding man and he has dated some of the hottest women in SoCal. Of course he owns a plastic surgery center, or two.............. That IMHO is proof positive that gold diggers and prostitutes are one in the same. Funny thing is that I and my friends think turn around is fair play, try to dig my gold and I will say whatever I think I need to in order to get laid. I never call them again once I get some lol.

I love the op's post about diminishing returns.

reply to post by Jason88


Priceless...

And yet, many rich guys do BUY vs. lease their trophy wives... I think in time, many of them actually even grow to love each other. I've seen it.

Especially if they actually end up having kids and all of that.

Looking for man that makes 500K a year on Craigslist? Seriously, that was my first indication that the lady was clueless. At least she should be posting on a professional (pay) dating site.

You OP was worth the read, especially the reply to the addy. Very comical, and well stated. I'll bet she was fuming. Ah, one for the gold diggers of the world to ponder.....The men with all the money knew how to acquire it, and therefore knows how to keep it.

reply to post by Jason88

So what does ATS think?

Hmm interesting, in a uninteresting make my skin crawl kind of way.

But in all things I think the girl is at least being honest, and is saying what lots if not all females actually think, and are really about, and so I for one wish her well enough....But In fact she might be a little to honest in some things, because lets be honest I do believe it all comes down to the money in most things, and to some people it is nothing but that.

But even they would not want it to be all about that, because like the dude said in the response...If the money leaves, so to will she. After all even guys do have feelings, and want to be loved for something other then what they have in the bank account, or what they provide.

So first the only thing she needs to do is put her ad up on another site but craigslist, because I don't think to many rich guys hang out there looking for girls. And second just bull# and lie to rich dudes, it works for all the other ones that got married to rich dudes. Or better yet! don't say nothing about money when talking to them, and do what every other female would do, and go in a round about and unsuspecting manner about such things. And she should find her sugar daddy eventually, really I do not think it will be all that hard. In fact the dude that responded to her seems to be a perfect match for her....If anything they should get together.

But then again we are in a recession, so she might want to aim a little lower. I would say marry for love, but I really do believe that she and all the other ones do exactly that...It all just depends on what they "love" and the extent and definition of there "love". So what can I say, they really do love money and all the finer things in life.

Really though that word L*** has so many meanings, and has been used and misused in so many ways that it has become pretty meaningless. Yet still I would not throw it around so carelessly. But in all things I am sure that they all do, and go after what they really L***. And there actions really do speak louder then there words.

And so as far as I am concerned, that really is the end of that story, and it's long past time to close that book. And pick up another more interesting book and story to read. Because there truly is nothing more to say or think about it.

I would say this article makes me sad. And it does....But mostly it makes me glad, because one way or another to one outcome or a thousand other outcomes.... The end of this thing draws nigh.

My GF is a gold-digger, seriously I've got her chained up in the basement right now with a canary mining loads of the stuff.

Heh just kidding she's in the kitchen EATING ALL OF MY RAISIN TOAST!!! *I actually yelled that*