Who first said this....................?

[10ClarionSt]

If you need to know the price, you can't afford to buy. I've heard it loads of times and been told that various people said it, which they probably did, but who said it FIRST?

[dundurn]

I don't think there's a definitive answer. I always understood it was said (or something like it was said) by JP Morgan about the cost of running a yacht, but I think it's been used by so many other people since.

[Clanad]

One source indicatesthe following:
�If you have to ask how much it costs, you can't afford it� or words to that effect are popularly attributed to J. Pierpont Morgan, a 19th century American financier, banker, philanthropist, and art collector, whenreferring to yachting or his yacht.
I have found an account of the conversation in which it arose in Business Education World, 1933, Vol 16, but I do not know how accurate it is. It is cllearly not first-hand. The book is available on Google Books with a
snippet view so I place the quote here in full.

The topic of yachts came up and Morgan's neighbor said, "I understand that you own a yacht, Mr. Morgan."
"Yes, I do." Morgan replied.
"How much does it cost to run?" his neighbor asked.
"Why do you ask?" Morgan inquired.
"Because," his neighbor replied, "I am interested in buying one.�
�My good man,� said Morgan, �if you have to ask how much it costs
to run, my answer is: Don't buy one!"