Subject:
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Re: DYA -> eBay 8880 money-making scheme
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Newsgroups:
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lugnet.general
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Date:
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Sat, 4 Sep 1999 16:18:44 GMT
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Viewed:
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664 times
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In lugnet.general, Paul Baulch writes:
> I noticed today that people are paying around $150 - $200 for new 8880 (and
> 5571) sets in eBay auctions when they could be buying them from DYA shopping
> directly and saving (in some cases) a ridiculous amount of money. Is this
> just because the eBay users are ill-informed, or do they gain some sort of
> subtle benefit that is nearly impossible to comprehend?
> If not, and in case there is anyone reading this post who is contemplating
> bidding for an 8880 or 5571 on eBay (although here on LUGNET I guess that is
> doubtful), DON'T DO IT!!! Buy from here instead:
>
> http://www.dya-shopping.com/uk/boutique/home2offre.html
>
> I'm sorry, but I just can't stand by and watch people get ripped off blind,
> it offends my sensibilities.
> Hmmmm, hopefully I haven't just helped sabotage one of LUGNET's sources of
> revenue..... :-\
>
> Paul
> http://www.geocities.com/Area51/Shuttle/5168/
Paul,
The actions you are seeing are referred to as arbitrage. That is where one
area has items for sale for less than another area. This is a commin
occurance and is supposed to occur from time to time. Some people feel this
is ripping people off. I see shooting cannons selling for $10-15, yet they
are still available for $5 in Europe. Is this not the same thing? Sure, DYA
will ship to the US and Lego Sweden/Denmark, et. al will not, but this still
is simply arbitrage.
I purchased 8 Supercars from DYA and posted them on eBay. People can get them
from me for cheaper than DYA because I saved $30 each on shipping due to
volume and normally people would have to spend that extra amount. I could
afford to sell one cheaper than somebody who bought just one. My opening bid
was $1 for the first 4 I offered. It is not my fault that they reached $150+
per item. Also, the money I make just gets reinvested into more Lego.
Often times, I have seen people buy a set that has sat on a shelf for a long
time and got it for a song. They turn around and sell it for a huge amount of
money and pocket the difference. These sets are very hard to find, but so are
8880 and 5571 sets. It seems as though only a couple of places have them. I
can only think of 2 places to get a 5571 and one to get an 8880.
I can see how you may feel this is ripping people off. Really, though, they
are providing a service. Some people feel that charging 99 cents for a
burrito is ripping people off, yet it is a service that must turn a profit or
it disappears. Finding obscure Lego sets or parts is the same thing. I felt
that Auczilla X was a rip-off, but that is absolutely not Todd's fault. When
6x16 gray plates go for $5 each, it is just silly. You can buy Rain Dance
Ridge at TRU for that and get a bunch of pieces plus the 6x16 plate. These
things just happen. If somebody paid too much, well, it happens. I spent
$200 for my first 8880, which was used. I thought it was a great deal until I
got the next ones for $100 each.
If I was willing to spend $350 for a Metroliner and found one, bought it and
was happy, was I ripped off? What if the guy got it for $80 a week before?
Was I ripped off then? Both times, I must say no. I was willing to spend it
and if I overspent, it is entirely my fault.
People on LugNET and RTL can complain about eBay all they want, but it is a
simple fact. Supercars went for $350 on eBay. People said, "Wow, I can make
some money." Now, they sell for $150. If arbitrage didn't happen, then the
Supercar market would not have been flooded and they would still sell one
every two weeks for $350. Instead, they move 4-5 a week at $150. If anybody
was being ripped off, was it the people I sold to at $172.50 plus $6 shipping
for an item I bought two months prior for $100 or the person who paid $350
from some dude who maybe wasn't "trying to make a buck" but did anyway.
I did this same thing with the 5571. They are still available at Lego. Shop
at home STILL has them. I saw them got for a lot of money. I smelled cash
and bought 5 at $139 each. I though it was a great deal until I heard Tom
Stangle got 50 or so fo them from $30 to $70 each. (Yes, thirty dollars -
MISB!) Anyway, I sold the first ones for about $265 or so. The last one I
sold was for about $150. Now, they go for about $120. Once again, arbitrage
brought the prices DOWN. Sure, they could have got them cheaper from S@H, but
how? They didn't know about it and it is not my job to advertise for Lego for
free. They [Lego] did a poor job of marketing the set, since they removed it
from their catalog and reported it as discontinued. It was just luck that I
asked if they were still in stock. Should I not get a cut for helping them
market their sets? TRU does, Target does, Wal-Mart does. Again, I started
the bid at $1. Is it my fault that some people spent that much? Now, thanks
to arbitrage and people like me, they are cheaper and easier to find.
Maybe it is just me, but I think that these sorts of things are great. They
make economies work. It drives DOWN prices (as seen in previous market
examples) when they are high and increases sales where they are low. Somebody
is going to buy Lego. And somebody is going to make money selling it. Why
not me? After all, don't most of us do this same thing in some way? If we
weren't all out after that extra dollar, why are there so many auction
postings? And if we weren't making money doing it, why would we bother? (If
you tell me for the good of our fellow man, go to China, you communist. :-))
I don't think you sabotaged my source of revenue. The market will correct
itself and tighten all money-making systems over time. Another one will just
show up to take its place. And if not, I still have my day job.
In the end, people like me do more than you realize to make sure that those
who want a set get it at a fair market price and that sets move off of the
shelf. Now, if they would just let me auction off my extra kidney...
Mike Poindexter
self-admitted eBay scalper and 5 second sniper
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Message is in Reply To:
 | | DYA -> eBay 8880 money-making scheme
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| I noticed today that people are paying around $150 - $200 for new 8880 (and 5571) sets in eBay auctions when they could be buying them from DYA shopping directly and saving (in some cases) a ridiculous amount of money. Is this just because the eBay (...) (25 years ago, 4-Sep-99, to lugnet.general)
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