Dead Beat Xbox 360 eBay bidders

[halik]

Originally posted by: zoiks

Originally posted by: Mojoed
Gouging? Please guys. This is what happens in a free market economy. If there is a way to make money, people will find a way. It's always been like this, and always will be.

Personally I think it's pathetic that people actually take the time to create a bogus account, and enter fake bids just to get back at someone they don't even know because they're jealous they don't have their own Xbox. Grow up guys.

It's supply and demand, NOT gouging. It would be gouging if the Xbox 360 was an essential commodity, (like heating oil). The Xbox 360 is NOT an essential commodity.

Nobody is forcing anyone to buy the Xbox 360, they sell simply because people are willing to pay crazy high prices regardless of how and why it got that way.

Supply and demand guys, supply and demand. NOT gouging.

I'm curious. Have you sold the XBox360 or something else like it for 'supply and demand' on ebay. I say this because what you just said didnt make sense.

It's simple economics... theres *absolutely nothing* to not make sense about that. If you're willing to spend 1K on xbox 360, then someone will make that transaction happen. It's not as if people charge 1K for a box that you NEED to buy, you end up forking 1K out of your free will. Simple economics at work...

Don't wanna spend $1K for a box that someone else will... oh well. It's not something you need to function....

 

[DaveSimmons]

Originally posted by: CheapArse
There is no "gouging" on ebay. Anyone who thinks otherwise needs to go take econ 101.

All of my Xbox 360 bidders paid immediately.

I don't see anything "evil" in diverting over 10% of the available launch supplies to eBay for gouging, but doing so did artificially increase the shortage of units available at the normal price.

This is only different than historical attempts at profiteering / price gouging by trying to "corner the market" on copper, coal, etc. in that it was done by an uncoordinated horde of individuals instead of a group of plutocrats.

But as I quoted above "there's nothing wrong with capitalism"

 

[imported_Mike]

mmmkay, but it isn't price gouging. Something is only worth what someone will pay for it. The demand wasn't artifically inflated.

I watched people wait in line for over 10 hours in the freezing cold with no sleep only to be turned away in the morning b/c places only had ~10-20...or less. Also consider that ebay is pretty much the only place you can get one now. Retailers are out, and they won't be restocked until after the 1st of the year, this is a fact, not speculation or media hype.

 

[DaveSimmons]

> The demand wasn't artifically inflated.

No, but the supply of retail-priced units was artificially reduced by >10% by speculators.

Yes, eBay sellers now collectively hold the only available units, just like a scalper who bought up the good seats to a hot concert.

Yes, you are collectively letting the market set the price so by definition are not overcharging those willing to pay. But you are also gouging or if you prefer profiteering since you collectively diverted supplies from "real" buyers in order to hoard them to sell to other buyers.

Not that there's anything wrong with that.

 

[imported_Mike]

I would prefer profiteering. Price gouging has a negative connotation set forth by the public and I also don't think they are one of the same. Of course nothing is wrong with it. The supply wasn't artifically reduced at all by ebayers. It was reduced, but there was nothing artifical about it. Also, although 10% of launch systems were sold on ebay, the number of people with initial intentions to sell them on ebay is, im sure, much less.

 

[Dulanic]

Originally posted by: CheapArse
mmmkay, but it isn't price gouging. Something is only worth what someone will pay for it. The demand wasn't artifically inflated.

I watched people wait in line for over 10 hours in the freezing cold with no sleep only to be turned away in the morning b/c places only had ~10-20...or less. Also consider that ebay is pretty much the only place you can get one now. Retailers are out, and they won't be restocked until after the 1st of the year, this is a fact, not speculation or media hype.

This is not a fact, infact it's wrong. Just so you know I work at a retailer, and the warehouses have been getting ~300-400 a week, each supplying around 60 stores.

Most will continue to get small shipments.

 

[Injury]

Call it what you will, gouging, capitalism... whatever... it's still just as annoying... and more than the people who are selling them for thousands, I hate the people BUYING them for thousands.

 

[Staples]

Well, this annoys me but what also annoys me just as much is that 10% of Xbox 360 have been sold on Ebay. So I am kind of glad the deadbeats are fighting the Ebayers.

 

[Trikat]

Originally posted by: halik

Originally posted by: Trikat
I know probably quite a bit of you guys know there are rampent dead beat bidders on eBay, especially with xbox 360s. Those people keep bidding and winning auctions without payment afterwards. Now the thing is eBay is making such a huge profit off of this business, because the listing fees are not refundable even if the bidder/buyer is indeed "fake." Apparently it is really easy to create a fake account since eBay has such a poor background check for new members. I guess it is almost equivalent to creating a new gmail account or something of that sort.
I'm now beginning to believe eBay doesn't care about this issue much since they are actually making even more money from these dead beat buyers/winners. To me it is almost like eBay is hiring a bunch of hooligans to create fake accounts and force the sellers to relist their action thus paying up more listing fees.

Just stating how I feel about this whole issue with eBay.

fill up the non-paying bidder forms and stfu? Ebay will refund all your fees....

I guess you do not understand how eBay works. If you do not why did you post?