[ARC5] Is "Price Insanity" Really Insane?

[David Stinson]

You know, we can talk about how people list
stuff on Ebay, pricing them by what they see
the rest of the herd do, then wonder why
their listings fail.

But then, something like this comes along:
https://www.ebay.com/itm/145485197776
Which means there were at least two people
able and willing to pay
such an eye-popping price.

Yes- it's in pristine shape.  It has the rack.
It has the dynamotor.  But if you took this
to any Hamfest or even a local auction,
I think you'd be lucky to get $25 for it.

This is one reason I no longer answer the
"what's it worth" questions.  When the world
is this nuts, why even try?

The unfortunate problem is that the
rare listings with nutty pricing which
actually succeed spread the virus
of unrealistic pricing for common,
unpopular or trashed-out items.
This ends with those items in the landfill
after Grandpa, who will dig his heels in
if he can't get $500 for his whacked BC-453
"like all the others did!",
  joins the choir invisible.
Trouble is, you can't convince Grandpa
that the listing prices
are NOT the sale prices.
He will not give up on his delusion.

Sadly, most of us Grandpas seem to suffer
from the same "price-by-listing" error,
rather than "price by sales."

We can tell people that the correct way to
successfully price an Ebay listing is to
look at "SOLD" item prices, and also
"COMPLETED" to see what works
and what doesn't.

Sadly, Group Dynamics are more powerful
than logic, reason or common sense.
The result is more of our treasures
in the dump,
and no way I know to stem the tide.

GL OM ES 73 DE Dave AB5S.

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