Subject:
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Re: FOTY, at least for me.
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Newsgroups:
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lugnet.market.shopping
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Date:
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Sat, 19 Jan 2002 03:05:41 GMT
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Viewed:
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490 times
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Before the execution proceeds, a different pov. Isn't this simply a form or
arbitrage - where a buyer takes advantage of a localized oversupply or
pricing anomaly and resells the product at a price closer to what is the
"global market price"? Actually, in such cases it seems that the buyer
takes on substantial risk to themself and usually sells the product at LESS
than what the "normal" market would have charged? Day traders do this all
the time - as do large brokerages (via automatic computer trading programs)
buying where local conditions price a stock lower on one market to resell on
another market at a higher price.
In a case where a huge inventory of a product sits on a shelf - and it is
generally available - what's the harm? Those that scarf any popular product
off the shelf as soon as it appears (think Harry Potter Castles) and resell
at a higher than market price might more validly held in contempt, but did
you ever try to buy a wildly popular car? You will pay ABOVE the dealer's
list price. Try to buy a house in a hot market in a bidding war and you
will lose if you pay list price. eBay and other sites only enable
individuals to do what larger entities have been doing for years. eBay
allows individuals to benefit from market economics in a way that was not
possible previously. If some use this to profit - it is their capital they
are investing, and they are bearing the risk. If - in the process, they
make a product available to others ( and again, often at a lower than
"regular" price what's the issue? As far as "taking advantage of a store"
goes......If the store does not price or reprice appropriately, that is
their problem. I have no problem buying something at deep markdowns -
correct or incorrect. I am not fraudulently repricing the product myself
(or staging an accident and suing, or returning an item bought elsewhere for
a lower price, or any number of validly "wrong" behaviors).
I have bought any number of deeply discounted items. I have posted
knowledge of such "finds" for others to pursue and even bought items for
others (at no real profit). That is MY choice. I am not OBLIGATED to serve
as a clearing house for the world if I find a great bargain. If someone
does so and makes a profit in the process, that's capitalism. I have bought
closeouts resold by others - paying more than they did but still less than I
would have had to pay if I had to purchase the same item. I benefitted, as
did they. Capitalism at work - in a freer way than the overregulated
manipulated way that most large companies operate. Why do governments set
quotas, protectionist laws and such?
Frankly, I find that eBay is a good indicator that SOMEONE, SOMEWHERE is
discounting an item when it starts showing in large numbers at an unusually
low price. I recall finding $23 Vision Command sets on eToys after a sharp
spike in those listings on eBay.
If someone cay make money in this situation - fine. If they are greedy,
they will get burned and lose money. Look at how many items go unsold.
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Message has 2 Replies:
 | | Re: FOTY, at least for me.
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| (...) YES. In fact even the scalper of tickets performs a service. I'm sorry, but I don't have time to play games with Ticketmaster, waiting in line for armbands to determine where in a ticket line I end up in, which determines my shot at a block of (...) (23 years ago, 19-Jan-02, to lugnet.market.shopping, lugnet.off-topic.debate)
| | | Re: FOTY, at least for me.
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| (...) snip Thank you John, that is exactly what my class in microeconomics taught me. If you were to look at my completed auctions, I sold for less than retail, and I am perfectly happy with that, because I bought at less than what I am selling it (...) (23 years ago, 19-Jan-02, to lugnet.market.shopping)
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Message is in Reply To:
| | FOTY, at least for me.
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| If you saw my posts in the thread "Target Lies and Great Buys" (URL) said I would tell the story of my local Target and the Life on Mars 7317. Well it all started back around July. I love to sell on ebay, and having just come out of my dark ages (...) (23 years ago, 18-Jan-02, to lugnet.market.shopping)
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