Tossing and Tortured 'Till Dawn

I come back to you now, at the turn of the tide.

Friday, January 09, 2009

Tell it like it is --

Sometimes "filler" news stories get blown a little out of proportion. Take this one:

I saw this story on the default "welcome" pages on MSN, Yahoo, and one other source that I can't remember. It's everywhere! The essebce of it: retirement age woman discovers a 19th-century piece of sporting memorobilia, thinks it may be valuable, puts it on eBay. High levels of interest cause her to pull back the eBay sale, which of course violates the TOS but, whatever.

The big fuss is over the selling price -- the headlines say things like, "Woman almost sells rare card for $10." Ohmigosh, really?
No, not really.

What she did was start the auction on eBay for 10 dollars. That is ENTIRELY different. I have never sold anything worth nearly as much as this card -- which may be a high five figure amount -- but I've sold lots of three- and four-figure items, and each one starts at the same price.


It is an auction, you know.

With bids.

Ebay gets about a gajaoijfeaillion unique visitors each day, and there are probably more bots and sniping programs combing for deals. This is about as close as it gets to Perfect Competition as it gets. The imperfection here, of course, is that all parties do NOT have equal knowledge about the product, but that's okay.

The point is that this card would never in a million years have sold for ten dollars. The nintety-nine cents items I list sell for anywhere from ten tollars to a thousand, and they always sell for what they are worth. Hooray, capitalism! (at least, some of the time.)


  • At 7:26 AM , Anonymous Cruzer said...

    What? That news article is from Fox.

    They can't be taken seriously.



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