Subject:
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Re: Fair Auction? (Was Re: Honest Capitalism)
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Newsgroups:
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lugnet.market.theory
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Date:
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Mon, 13 Sep 1999 21:39:25 GMT
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Viewed:
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1396 times
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In lugnet.market.theory, Larry Pieniazek writes:
> If there is no benefit to sellers, who is going to participate?
> You can set up whatever scheme you want but unless there is motivation,
> you're going to have a lot of buyers but no sellers.
This is true, which is why I think a statutory 5-10% profit should be standard
on such a system. That way sellers won't lose money, but they also won't feel
guilty or profiteering by making a small amount.
The way the proposed system works is that you start of with a small amount of
credit, but have to auction items on the system to recieve more credit.
Therefore you wouldn't have the problem of lots of buyers but no sellers.
> I know I certainly
> would not sell for less than the most the market is willing to bear,
> except in certain rare cases, to buyers that I don't already have some
> non monetary relationship with.
This is true for a lot of people, and for a lot of people this is because the
money they make from selling profitable items they put back into their own
hobby, which requires buying over-priced items. The question is that if people
could buy the sets they desire by spending less real money, would they feel the
need to auction their sets for a profit?
Assuming internet usage continues to expand, then in a few years, instead of 10
people bidding on an item, there will be 20, then 50, then 100 etc. What will
happen to the prices then?
Richard
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Message has 1 Reply:
 | | Re: Fair Auction? (Was Re: Honest Capitalism)
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| (...) Who says 5-10% profit is even WORTH doing anything? So I'm supposed to buy $500 worth of closeout Lego after Christmas, spend literally weeks sorting it with my wife, then auction off the bulk of the parts I don't need for a lousy 5%? I'd have (...) (25 years ago, 14-Sep-99, to lugnet.market.theory)
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Message is in Reply To:
| | Re: Fair Auction? (Was Re: Honest Capitalism)
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| If there is no benefit to sellers, who is going to participate? You can set up whatever scheme you want but unless there is motivation, you're going to have a lot of buyers but no sellers. I know I certainly would not sell for less than the most the (...) (25 years ago, 13-Sep-99, to lugnet.market.theory)
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