Some musings regarding eBay...

[Jeff Murphy]

Miscellaneous ramblings of someone bored at work...

I've been watching auctions generally and have noticed some interesting behaviour:

1. People can be successfully encouraged to pay higher prices with words like "rare", "Yenko" etc. even when you see the same thing five times in a row over a few days or the part in question isn't even appropriate to the application listed -- like the infamous Yenko steering wheel knob that has been on auction for over a year. Even worse is when they say it's rare and NEW at the same time -- notice the ads for the Motion style valve covers.

2. Setting higher prices seems to make some things more attractive. Remember "Giffen goods" from basic economics? -- things that have higher demand the more expensive they are. Classic examples were always Rolls-Royces or Picasso paintings, and have been joined by ZL-1 parts, BB motor mounts, 499 distributors, Berger license plate frames, etc.

3. People suggest that they are selling things for "no reserve" and set an opening bid price of $150? Seems like a reserve to me. [img]/ubbthreads/images/graemlins/confused.gif[/img] If you were really selling something at no reserve, you'd start it a buck or a 1¢ and take whatever you got...

4. There seems to be an increasing number of items being pulled because they "are no longer for sale." Too many side deals being cut, if you ask me. Is eBay destined to be more of an advertising forum than a marketplace?

5. Check out the value arbitrage that camarojoe has set up between these two auctions.

As a buyer: NOS Chevrolet License PLate , Dealer Item ! (Ended - May-18-03 15:48:45 PDT)

As a seller: 72 Chevelle Camaro License Plate NOS GM Rare! (Started - Jun-04-03 19:21:00 PDT)

I especially like the "Buy it now" for $150!?!

Looks like a eBay can be a good business! Better than the old stock market "day trading"...