posted on October 23, 2000 12:11:14 PM new
Ok - how stupid was this? I won an auction for the new Sony Playstation 2 and paid $510.
Auction has already been paid for - question isn't related to the transaction itself.
Do you really believe the press when they say Sony will not have enough to distribute for the demand for xmas - in fact, not even close?
Was this a good investment - should I re-sell around Thanksgiving or keep for my son?
Was $500 a crazy amount to pay?
If the market is that hot or will be around x-mas what do you think they will go for?
Thanks for your opinions. I don't know why I thought I had to get one - but I did and spent 2 hours trying to get one for under $550 - finally sniped one in the last 15 seconds. I was bummed as I could have had one with 2 DVD movies the new Toy Story and original for $510 but my computer decided to shut down with 4 minutes to go and I could not get back in in time - arghhh
posted on October 23, 2000 02:31:04 PM new
There is a definite shortage it is real.
Its estimated to be off by half mill.
Question is when will you get yours.
posted on October 23, 2000 02:46:15 PM new
Most of the people on EBAY don't even have the Playstations in their hands yet. They've been promised delivery on October 26th---but the shortage may cause these sellers with pre-orders to Sony to be empty handed.
If you get it GREAT---watch the prices and you may get a good profit if you resell
posted on October 23, 2000 02:52:09 PM new
Our local Best Buy has them advertised for $299, to be in the store on Oct. 26th. They will only guarantee 50 per store. I wonder how long those will last??
posted on October 23, 2000 02:55:01 PM new
Personally, if you got the Playstation 2 within 3 months of the Japanese Release almost a year back (I have mine, and it's cool; cost me around $900 to import one, mostly in Customs Fees) then you'd be sitting on a gold mine.
And why did you pay $510 for it? I sure hope you got (or are gonna get) a Japanese Version, because the regular American one is gonna go for around $300 or so dollars.
And no, i'm not selling mine.
I have sunk maybe $500 in games, no thanks to eBay and their rules...I could've gotten them cheaper there, but they keep axing Japanese Playstation Games left and right!!
:\\\"Crystalline Sliver cannot be the target of spells or abilities.
posted on October 23, 2000 03:07:36 PM new
Thanks for the replies.
Crystalline,
The current auctions running are all around $500-$700 and more. When you do a search the numbers are misleading. Pull up the sold ones and there will be a few under $500, but most are from (0) feedback sellers and I was not comfortable with that.
I will be receiving mine via UPS on Monday. Those that reserved with only a deposit from what I understand may never see theirs. Those that paid in full are guaranteed. You can see this by auction as some guarantee delivery and others say - money back if they do not get them.
Unless things change drastically - I think I am going to list on Thanksgiving with a 10 day auction to end on a Sunday night. I am hoping people will be in a buying frenzy and with the shortage and the must have attitude - will be willing to pay top dollar. Several on ebay have gone for $600-$700 already.
I may be totally wrong but took a gamble and we'll see. I guess I better hope I get mine first - though - wouldn't that be horrible.
My son just received Sega Dreamcast for his b-day in September so I don't think he needs this one. He gave me his list today and it is not on it. Of course, I will have to hide it from him as he would throw a fit if he knew I had one.
Thanks for the opinions. I am usually a dollar short or a day late - hopefully this one will be profitable or at least re-coup my initial investment!
posted on October 26, 2000 12:30:21 PM new
So... Anybody got a Playstation 2 listed? Prices seem to be going through the roof, but it looks like an awful lot of sport bidding going on, too.
posted on October 26, 2000 12:37:55 PM new
The Playstation2's at Amazon auctions appear to be going through the roof. I've seen several at $1,000, with a LOT of bids.
It looks like people who find Amazon sold out are checking Amazon's auctions. You really might do better over there. Isn't that a switch!!!
posted on October 26, 2000 12:43:21 PM new
In the true spirit of Christmas, go gouge them buyers! Think of the shining faces on Christmas morning, not realizing their parents spend a cool grand on the newest toy. Sorry, but this really bugs me. When the Nintendo 64 came out a couple of years ago, folks were buying them up and selling them in the parking lot of Toys R Us for twice what they had paid not 10 minutes before. I thought it was pathetic.
And yes, I know, no one MAKES them spend that kind of money, but that doesn't mean we have to cater to them. I couldn't do it myself.
posted on October 26, 2000 12:43:41 PM new
I sell these kinds of items (hot toys), and I have one suggestion: DO NOT WAIT until Thanksgiving.
Why? Because most retailers will be holding the game stations until the day after Thanksgiving, then they realease all that they have.
This creates a flood in the market and you won't get the best price possible. (Exact same thing happened with furbies).
Also, since you will be selling in an area prone to sport bidders and deadbeats, I really suggest making sure you have time to list the item one more time before Christmas just in case.
posted on October 26, 2000 12:47:46 PM new
As for the demand the press reports have mention: I tend to believe them. A few months ago it was reported that there were not enough computer chips needed for the new fancy gadgets (play stations, talking doll, ect.).
As always, if you are going to play in the 'trend' area, don't risk what you can't afford to lose.
posted on October 26, 2000 12:50:29 PM new
Americans have too much disposable income, if these selling prices are real. People who feel compelled to get one for $1000 should be required to spend a month in a third world country, and get a dose of reality. Or compassion.
6 months from now you'll be able to get them for $250.
Sell yours quick. Units will be "flooding" the market (at least relatively), attracted by these absurd prices, and you'll find the price will drop sharply, as supply and demand come into balance at a much lower price. After all, it only takes a few "crazy" people to drive up the final bid price on a whole lot of auctions, and once those people get theirs, the price can plummet.
posted on October 26, 2000 12:52:39 PM new
Hi Meya,
If it helps, I believe that for every parent willing to overpay for the latest hot toy, there's a parent who's using the situation as a consumer lesson for their kids.
When the Nintendo 64 came out a couple of years ago, even the stores were charging a $50 premium over MSRP. My son (who was 11) wanted one for Christmas. But I explained to him that it's better to wait, the price will drop soon and he can buy more game cartridges with the money saved.
He understood -- and was happy to get his Nintendo 64 a few months later, when the store price was $149 instead of $249.
He's turning into a smart shopper as he hits his teenage years.
As for boysmommy3 -- go for it! Adults want these machines just as much as the kids do!
edited to fix a typo
[ edited by vargas on Oct 26, 2000 12:54 PM ]
posted on October 26, 2000 12:53:24 PM new
I realize that the buyers set the price, and that is part of the game. It just bugs me every holiday season to see this kind of thing. I've raised 4 kids, and I know exactly what it is to have kids that really want the newest toy on the market, and what it is to not be able to afford it or to not be able to find it anywhere.
I guess my complaint is really with the manufacturers who do this each season.
Personally, I wouldn't be comfortable with buying the item, in this case the newest Playstation, and then reselling if for twice that. I just wouldn't be able to do that, but that is just my opinion.
posted on October 26, 2000 12:57:42 PM new
I wonder how many empty boxes will arrive from sellers using this fad as a great excuse to rip off desperate buyers?
posted on October 26, 2000 01:12:28 PM newI've raised 4 kids, and I know exactly what it is to have kids that really want the newest toy on the market...
Well, I don't have kids, so I can't say I know how it feels as a parent, but my parents raised three, and their answer was... to just say no. We survived unscarred.
Any parent (IMNSHO) who allows the kids in the family to make the decisions deserves what they get. Sorry.
I guess my complaint is really with the manufacturers who do this each season.
They wouldn't do it if they couldn't count on parents doing whatever it is that their kids demand.
posted on October 26, 2000 01:22:30 PM new
My kids have never run the show here, but you do say that you don't have kids mrpotatoehead. There is a difference between buying everything little Johnny or Suzie wants, and teaching them to appreciate things. Making them work for stuff they want and not buying into the instant gratification that is so easy nowadays.
But, anyone who is a parent knows the frustration of wanting to surprise your children with that special gift. And most parents also know the frustration of not being able to, whether because of financial considerations or other reasons. We work hard day to day just to keep shoes on their ever growing feet, and braces on their crooked teeth. It's hard to always spend the money on what you HAVE to have. Sometimes you want to spend it on something you just WANT.
I really do think you need to be a parent to really understand this, especially a parent from a one income household, where money doesn't grow on trees.
posted on October 26, 2000 01:26:29 PM new
By the way, one indicator that is sometimes helpful in evaluating the staying power of prices is to look at the bid history of these items. Are there a lot of bids, with a nice climb up bid increments (i.e., $250, $300, ...on up to $550), or are most of the bids down lower, with a just a few desperate buyers driving up the price? If there are a "lot" of buyers, and hence more likely to be able to resell a unit for a profit, you hope to see the former, since there will be a decent base of people who "just missed winning" the last auction who can add a few bucks to their already-high bids.
(proud, but tired, parent of 7 kids, one income)
[ edited by captainkirk on Oct 26, 2000 01:31 PM ]
posted on October 26, 2000 01:33:09 PM new
Here in Northern Alabama, they slept in the parking lots of the WalMarts & K-Marts last night, and the ones that were stiil there this morning got numbers and were allowed to buy up the stock before the stores were even officially open this morning.
As for the Army Base Exchange, where I'm also allowed to shop, they received 9 units. Three ladies bought three each.
Wanna bet where they end up?
If I could ID them on EBAY, I'd fink them out to the Army in a heartbeat, and let them lose their right to shop there.
posted on October 26, 2000 01:39:36 PM new
The local stores here, Wal-Mart, Best Buy, and the like only let one person buy one each. I think the Wal-Mart said they had 39, Best Buy had 50.
posted on October 26, 2000 01:43:13 PM new
Check out ZDNET - they are saying that all the hype about this new machine is just that ... hype. Don't spend big bucks just so you can be the first guy on the block to have one! Wait until it's been out for a few months and see if you still think it is cutting edge ...
A similar thing happened recently on eBay concerning the Apex AD-600 DVD player. Basically, this machine is a very low end player. It does not have any quality control during the manufacturing process and uses cheap parts. Circuit City couldn't even give them away. The manufacturer then 'accidently' let it slip that this player has a secret menu that when activated, allows the user to defeat copy protection and play multi region DVD's. The MPAA got involved, the unit became a black market item, and the prices on eBay skyrocketed. That is until eBay started shutting down the auctions. Now, they can be had for a dime and they are still junk.
There isn't a word you've wriiten (with the exception of the "go gouge them buyers" comment) that I disagree with.
I really do think you need to be a parent to really understand this, especially a parent from a one income household, where money doesn't grow on trees.
As I said, I'm not a parent, but I have parents, (we were also a one income household) and, over the years, they have enlightened me about things I never noticed as a kid. We used to go camping each summer for our vacation. There's nothing more fun for a 10 year old than sleeping on the ground in a tent in the mountains, and I always looked forward to our trips. Turns out, the reason we did this each summer is that campsites were free- my parents couldn't afford to take us anyplace that cost money.
Making them work for stuff they want and not buying into the instant gratification that is so easy nowadays.
If this is your approach, I don't see how you can go wrong. Good for you.
posted on October 26, 2000 02:22:14 PM new
potatohead---when we were children we did not have the media bombardment that children do today. Not only are they techno savy---they are brand savy---and the pressure they get from thier friends to have the right shoes or clothes--newest games can be really hard----but in many many families it is a reality that the newest and the best will not be part of their life---but it doesn't make it any easier for the kids.
When you were a kid---how many of your friends had gone to Disneyland?? I didn't know a single one---but with my kids--most of their friends have gone not just once--but many times. Camping is cool--they love going---but they yearn for Disneyland.
posted on October 26, 2000 02:35:48 PM new
Just took a look at some of the Playstation 2 auctions---I couldn't believe how many sellers have ZERO feedback and people are willing to give them over $1000.00 for a system !!
posted on October 26, 2000 02:39:48 PM newWhen you were a kid---how many of your friends had gone to Disneyland??
Not many. We went to Knott's Berry Farm (we lived across the street, and it was free). My first time at Dland was when I was 12 or 13. I didn't go back again until I started to work there, and then I saw far more of the place than I would have ever imagined.
Not only are they techno savy---they are brand savy---and the pressure they get from thier friends to have the right shoes or clothes--newest games can be really hard----
I couldn't argue with that. It's sad that so many parents give in. When we were kids, my mother made our clothes from patterns with her sewing machine. I suppose that wouldn't fly today...
posted on October 26, 2000 02:41:36 PM new
mrpotatohead-----it is very easy to be an armchair coach.......it's a bit tougher when you are actually in the game.
posted on October 26, 2000 02:55:00 PM newit is very easy to be an armchair coach.......it's a bit tougher when you are actually in the game.
Fair enough, but those in the game made the choices that put them there. Abdicating responsibility beacuse it's tough is a cop-out, though (in my opinion, anyway).
posted on October 26, 2000 03:25:52 PM new
I don't believe it is abdicating responsibilty because as a parent you decide that you want to give your child something that they are wishing for....that is not abdicating anything. It's a system of weights and balances
believe me---I've said no too many times to count---but the few times that I've splurged and let a wish come true---it has been worth it--just to see their happiness.
Knott's Berry Farm isn't free anymore--and clothing patterns are quite expensive now---but I'm sure your mother designed all your clothes from scratch too---and chewed the leather for your shoes.
