Subject:
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Re: No really - a rational discussion of people selling via eBay?
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Newsgroups:
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lugnet.market.theory
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Date:
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Tue, 18 May 1999 02:40:39 GMT
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Viewed:
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538 times
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Mike Stanley wrote in message ...
:
:I was called on the carpet recently for making a statement about eBay
:scalpers. I defended myself, qualifying that name for a very
specific
:(and, seemingly, large) group of people who sell collectible toys via
:eBay.
:
:Are all people who sell via eBay scalpers, though? I don't think so,
:and not just because I'm one of them.
:
:I think it's pretty easy to tell who the scalpers are and who they
:aren't on eBay.
:
:Here are my reasons for listing some of the things I've auctioned
:recently on eBay:
:
:1. Exposure to huge number of buyers
:2. Ease of use (fire and forget auctions)
:
*****some stuff deleted*****
:
:I've seen some people vilify those who admit that part of the reason
:they sell via eBay is that they can usually expect to sell their
items
:at a higher price there, as if the desire to get the most money for
:your items is an evil thing. I'm not a mind reader, but I'd be
:willing to be that there aren't that many people who auction things
:off who DON'T want to make as much money as possible - otherwise
:they'd just say, "well, I paid $10 for this, and I don't really want
:anything more than that, so I'll take $10." Now, to be sure, that
:does happen - I've done it myself, but I don't know about most people
:here, but I can't afford to subsidize the hobbies of a few hundred
:working adults worldwide by buying and selling things at cost,
:especially when I'm adding to their value by selling parts.
:
:So yeah, when I put something on eBay a part of me is thinking, "gee,
:it sure would be cool if that sold for double what I'd get on RTL."
I
:guess in the eyes of some that makes me a bad person or something.
:Fortunately for me, I don't care.
:
Mike,
I remember your post about scalpers on ebay well.
I was kind of surprised by your remark and surprised by the barbs
sent your way. Having accidently started a brouhahah on lugnet once
and not wanting to try Todd's patience since he is such a gracious
host,
I didn't want to join in. I don't want to be the initiator of
controversies. But
this time you brought it up here for a rational discussion. So.....
Let me start of by saying I'm an economist. It is not just a job or a
degree.
It is a weltanshaung.
In general, to economists, scalper is not a meaningful term./1/ People
have things that others want more than they do and they want to get as
much as they can for those things. What they can get is determined by
how much people want them. Do you have to sell at cost not to be a
scalper? How much profit can you make before you are labeled a
scalper?
So, your initial comment really didn't make sense to me. To help me
see
your side I'd need to hear what makes someone a scalper, not just why
you are not one.
Now your post here is more understandable to me. I saw what you
auctioned on ebay and what you got for it. Because of that auction
there
is a buyer who presumably is better off than he was before and a
seller
who is presumably better off than he was before. That would be true no
matter what the final price was. The nice thing about auctions is that
as long
as the seller can set a minimum selling price so that he isn't forced
to sell
for less than the item is worth to him, there is a guarantee that at
the end 2
people will be happier than they were before (ignoring
misrepresentations,
etc.).
So I would defend your selling on ebay any item for any amount, just
like
I'd defend anyone's buying on ebay for any amount.
I admit to being very amazed at the willingness to pay on ebay. It is
almost scandalous. When there are people willing to pay such high
prices then you can be sure there will be people who are happy to
accept their money if they can trade what they want. Why are the
sellers
bad and the bidders only fools? One could just as easily say that the
bidders are scalping wonderful unplayed with toys away from people who
would otherwise open them up and play with them and be happy. But the
poor people with the MISB Space Shuttles are being scalped for a mere
$200. (By the way, this is the argument that interventionists make
about
labor markets, but that is probably close to off-topic and I don't
read those
newsgroups.)
It is just funny to me that people often castigate scalpers but not
the
scalpees. People think the scalpees are crazy, but they impute impure
motives to the scalpers. Both of these people wanted something
different than what they had before the transaction (cash or scout
troupers).
PS I just ordered a single 4552 from S@H for $38.50. I had been
offered that set for as much as $75.00./2/ I only really want one. I
know
that they routinely auction for the high sixties+shipping. Why didn't
I buy
all that were left and auction them? I don't know. It didn't occur to
me
until I hung up. And I just didn't feel like going into the lego
business
enough to call back.
/1/ There has actually been some scholarly literature on this in
recent
years about why "scalping" is and should or should not be illegal. If
anyone is interested and patient I can try to find the cites.
/2/ If they are reading, I am grateful to those who offered to sell me
4552
at double its original price. I couldn't get it elsewhere and they
allowed me
to chose how much I wanted the set. Seeminingly, if the set was really
worth less to them than what they offered it to me for than they lost
out./3/
/3/ However, I'm in the long process of working on a paper to show why
it is possible to be rational and also pass up a good deal in favor of
no
deal. But you'll have to wait for me to learn more game theory first.
DJ Zorn
To locate scans of official instructions
for discontinued sets only go to:
http://www.kl.net/scans/
"A professor is always willing to profess." -- Milton Friedman
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