It is unwise to pay too much, but it is worse to pay too little. When you pay too much, you lose a little bit of money … that is all. When you pay too little, you sometimes lose everything, because what you bought was incapable to do what you bought it to do.
The common law of business prohibits paying a little and getting a lot… it can’t be done. If you deal with the low bidder, it is well to add something to the risk you run. And if you do that, you will have enough to pay for the something better.
The lowest bidder – John Ruskin