Post AV3gWOtLD86Ms5v6RM by artandtechnic@digipres.club
(DIR) More posts by artandtechnic@digipres.club
(DIR) Post #AV3gWL7NF0wxASSFl2 by artandtechnic@digipres.club
2023-04-26T17:32:00Z
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eBay is probably the most dysfunctional “market” on Planet Earth.Which has a lot to do with the fact that the vast majority of the people there don’t seem to know anything about the economics of markets, and how they work. Or for that matter, scarcity and value. All they know is “markup market” - profiteering that is at once insane and obscene: buying for pennies in local markets, and selling for tens and hundreds of dollars online.
(DIR) Post #AV3gWLsAR2NdVaLch6 by artandtechnic@digipres.club
2023-04-26T17:36:55Z
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The easiest to grasp example is the lowly VHS tape, mass produced in quantities that are somewhere in the millions.Those who go to their local thrift and second-hand stores (which are not named Goodwill or Salvation Army*), will discover that the going rate is somewhere between 20¢ and $1 each. High end tops out at $2.On eBay, that range is $5 - $10 (before shipping!), with the high end around $30,000.—* These chains have deliberately been purging themselves of these holdings nationwide.
(DIR) Post #AV3gWMRyHv1JId6DVA by artandtechnic@digipres.club
2023-04-26T17:51:29Z
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The problem is at once significantly worse and significantly clearer when one looks at specialty / niche (consumer) electronics (i.e. things that were readily acquirable 30-40 years ago, but less so today).With a straight face and significant indignation, you will have sellers demanding stratospheric prices for items… sometimes visibly damaged… that they don’t know if it works or not, refuse to make the effort to even do “power testing,” which have missing items, and refuse to take returns.
(DIR) Post #AV3gWN9veUBLUxfK1A by artandtechnic@digipres.club
2023-04-26T17:57:30Z
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While not every seller has a bevy of test kit, I do expect you to know your merchandise, and it’s value.Value is in part determined by whether or not “it works.”Value is in part determined by whether or not it’s worth testing.Value is in part determined by whether or not it’s worth more to have the buyer test it.Value is in part determined by whether or not returns are accepted.Value is determined by how much profit you expect from markup & inflated shipping prices.
(DIR) Post #AV3gWNnzFYDzVCPJSK by artandtechnic@digipres.club
2023-04-26T18:01:57Z
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Markets in which people expect every item to be their ticket to retirement are not markets. They are, instead, people trying to turn everything into a collectible: Beanie Baby fantasies.The value of items which a seller has “discovered” is significantly diminished if they refuse to do the bare minimum to establish actual value for the buyer.
(DIR) Post #AV3gWONR7ka5H8zci8 by nkizz@tacobelllabs.net
2023-04-26T22:58:27Z
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@artandtechnic “the market” in a microeconomic sense is only things that are actually bought and sold, if these items aren’t being sold then why are they even relevant? i feel like it can be viewed more as just poorly executed price discovery if anythingfrom the demand side, do these listings really affect anything?
(DIR) Post #AV3gWOtLD86Ms5v6RM by artandtechnic@digipres.club
2023-04-26T18:02:08Z
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-FIN- 😂
(DIR) Post #AV3hgGEeLjEIsH9WfA by artandtechnic@digipres.club
2023-04-26T23:11:26Z
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@nkizz Good points. :) I would say that the collective actions of both those in & seeking to be in the market, are essentially attempting to redefine the market as a collectibles market. Naturally, a collectibles market doesn’t work unless values are perceived to have a high “floor.” Which is the situation I encounter frequently when attempting to do research work.Much of the former market - i.e. big thrift - thought the value was in clamshell cases. Well, they got stuck with tons of them.