Spotted Online – “Price Gouging Of 3rd Party Figures; Do You Think Its Cool Or Do You Feel Its Wrong?”
So there’s this thread at TFW2005 where fans are discussing “price gouging” on toys. Two specific eBay auctions are mentioned/referenced in the initial post, and the entire discussion seems to be split between the “it’s wrong!” and “it’s the market” camps.
I’m definitely on the side of “it’s the market,” because we’re talking about toys here. If someone wants to pay $1,000 for a hard-to-find Quakewave that’s their business. If anything, what I am doing is kicking myself for not doing as the eBay seller and getting my hands on a dozen or so Quakewaves to sell at a fantastic markup.
It’s just capitalism and the free market at work. Nothing wrong or evil here, just business and the law of supply and demand at work.
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The thread title is just so loaded. Right from the get-go, the original poster feels slighted by the lunatics on eBay. If it was a 1988 Camaro, and the seller had it up for $75,000, nobody would buy it, and the whole listing would be openly mocked on the internet. But some Transfans seem to think that the entire world should cater to them in every way. EBay is now one of the worst places to find value, and I really only use it when I’m bored, or nothing shakes out on the buy/sell/trade threads on various Transformers sites including those at TFW2005. So, price gouging is not okay, but crazy eBay auctions are not price gouging. They are a cash grab listed by people who hope to dupe the gullible. I have no idea if it works for them, but if it does then more power to them.
This is no different than any other collectible market. Look at Mondo posters for example — it’s impossible to get one when they drop, so you almost have to go to the secondary market to get them. The initial eBay prices are usually outrageous, but over time, they tend to go down, many times nearing the original selling price.
Totally agree with you Phil on the market economy and capitalism points.
The above posters also speak truths, essentially its buyer beware, and If you want to spend the cash all the power to ya.
One of my mother’s friends recently asked me how much I thought a vintage K.I.T.T. Knight Rider car would be worth. Not having any clue my response was “whatever someone is willing to pay for it”.