Product: New York Real Estate
In the category of “Where’s a Good Time Machine When You Need One” comes this ad from 1906 selling land in New York City for $190.
Actually, the price was just $161 if you paid cash. The $190 was on the payment plan of $5 per month after a $10 deposit. Sounds like a sweet deal. And it was (don’t you know it!), if you had the money. But in 1906, the salary of a working man was somewhere in the range of $200 to $400 — so these lots cost about a year’s income for an Average Joe.
What I love about this ad is its unrelenting sales pitch, and the sense of scarcity, urgency, and opportunity it creates.
These are positively the last cheap lots in New York City…Lots in the Bronx, farther away from the City Hall than these we now offer in Richmond at $190, are to-day selling for $2000.
The Borough of Richmond is to-day where Brooklyn was three years ago and those who invest with us now will get all the advance. It is the only undeveloped part of New York City, and it is in the direct line of growth…there is no other cheap land in Greater New York.
And my favorite piece of all:
Don’t wait to investigate now or you’ll be too late. Investigate later. These 100 lots will sell fast. Pin a $10 bill to the coupon at the bottom of this page and mail it to us at once–today if possible. We will save a lot for you–the best one unsold…
No need to do your homework, folks. Don’t think about it, just send your money. We’ll save YOU (just you) the very best.
You can practically hear the 100-year-old sound of coupons being ripped out of magazines everywhere.