posted on November 2, 2000 10:40:07 AM
I have some questions.
Does it damage the future market when you get an astronomical price for an item, or a string of items? Would it be better for everyone and everything if bidders were just willing to bid up to a fair price and stop? I know getting an inflated price for an item is exciting and good for the immediate boost to the checking account, but...
It's not like getting a huge price for a particular item establishes a precedent. Next time it might bring only fair market value or even below. It's weird. I know there a zillion different factors that affect bidding and it's hard to place a finger on.
My concern is continually being able to find good items to buy and will I be able to afford to buy for resale because word gets around, one brought $xxx on ebay, they must all be worth a lot, etc.
Am I worrying about nothing?
[ edited by loosecannon on Nov 2, 2000 10:59 AM ]
posted on November 2, 2000 11:45:47 AM
Yes, IMO it does.
Ebay is a monkey-see monkey-do carnival. Millions of people trying to make a quick buck on the coat tails of other merchants. As soon as you think you found a niche that will provide you a nice income stream, along come the buyers-turned-sellers that jump up and down when they make a 10 percent profit and trash the value of an otherwise profitable item. (of course truly rare items will always be exempt from this) A couple hundred bucks a month is a lot to a housewife in West Virginia, but barely pays the dumpster rental for a real business.
The second problem comes in trying to find someone to buy from that does not already know about Ebay. Why sell to you for $10 when they can get $50 on Ebay. I have seen this in our area quite a bit. Walk into any antique store here, listen for 30 seconds, and you will here "Ebay this and Ebay that". Flea Markets - ditto, Yard Sales - Ditto.
This is also one of the reasons so much new stuff is on Ebay now. The sources for good collectibles to sell at a good price dries up in your neighborhood so you are forced to quit selling or find reliable and renewable sources for merchandise.
posted on November 2, 2000 12:18:09 PM
I always thought that one of the wonders of eBay was that it gave that "housewife in West Virginia" the opportunity to compete with a "real business". Should one feel sorry for the real business if, in the end, they are the ones who cannot compete?
posted on November 2, 2000 12:23:36 PMLoosecannon..if you don't get the high price, someone else will...the reults will be the same if it is you or someone else, so make it you.
I really do like your logic Amy.
Case in point though. I have an item on right now that's bringing a lot more, make that a whole lot more than it should be.
Yes, I know the seller doesn't establish the price that bidders are willing to pay, but this kind of thing does worry me.
posted on November 2, 2000 12:29:57 PM
Mr. Jim has it pegged. And you're right too- it is just the "market", the "market" is performing just like it did in 1929.
When I mentioned in another thread about the "collectables" market being finite and people running out of things to sell, one "collectable" seller said that's just the lazy people running out of stuff.
eBay's market can't grow anymore as a garage sale, they must attract and bring in the new merchandise vendors. But when eBay becomes a market place for new items, the competition will appear overnight and only a mouse click away for price comparision.
Even my mailman is selling stuff on eBay now, and he tells me the same thing about trying to buy "collectables" for re-sale and he's only been in it a year. Eveyone and their brother is hitting garage sales, estate sales and anyplace they can find to find stuff to re-sell on eBay. A bunch of folks are going to get stuck with "stressed" merchandise just like the Beanie craze.
Hang on to your hats for an online auction market crash in the not too distant future. As a dear old friend always said- "work hard but save your money".
posted on November 2, 2000 12:30:46 PMI have an item on right now that's bringing a lot more, make that a whole lot more than it should be.
I have a particular item that I list from time to time, and it almost always sells within a typical range. Every so often, it will go for 8 or 10 times the usual value. I really look forward to those auctions.
posted on November 2, 2000 02:38:30 PM
mrpotatoheadd is right on. There are MANY markets working within ebay all the time.
I've had the same item, not even make it's start price, but 2 weeks later, go 250% of what I paid for it, then go to another price a week later.
Sometimes we might assume the same people are logged on all the time whereas people come & go. The person who might pay you 250% this week might have been out of town last week when you had the same thing on.
I search on closed prices when I'm looking for something to see what the market is running but I think a lot of bidders don't do that..may not even KNOW they CAN do that.
Finally, people are always spelling the downfall of ebay..the craze is over..it was a fad..blah, blah, blah.
I still maintain it might be decreasing somewhat as a fad in the U.S. but look at the rest of the world coming on line. I'm starting to see a whole lot more international bids & they are REAL happy campers to be let into the game.
The shipping/customs/currency situations are still a bit tricky to navigate but as the market becomes more global, I think we'll see easier & faster ways to work with these situations.
ebay is what you make it. Diversify. If your collectible market is drying up, look to other areas.
