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Paying over the odds on EBAY

Kako 11 158
23 Jun 2009 10:02AM
Some poor soul is currently bidding for a Canon EOS450D with 18-55IS lens on EBAY (seller Canon Outlet). They are bidding 510 + 2.95 P/P for something they could walk into Jessops and get for 13.95 less. They are bidding on a 'refurbished' item to boot! Warehouse Express will sell the same item to them , brand new for about what they are currently bidding (still 6 hours to go!)

Are these people 'genuine' bidders or is something else happening as this kind of thing seems to happen frequently? A retailers dream if these people are genuine!

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Nigeyboy 9 814 United Kingdom
23 Jun 2009 10:45AM
Think its probably a mixture of both - retailers bidding on their own stuff, and also normal Ebayers getting caught up in Auction fever!!

I personally would only get hard to come by stuff from ebay - no way i would end up paying over the odds for something. I often wonder why these people don't do any research first to get an idea of max price . . . .
edsephiroth 11 169 9 United Kingdom
23 Jun 2009 10:51AM
As alluded to above, you can often make more on ebay simply because people get carried away with the idea that they are "winning" something (as if some sort of competition, skill or effort is required) and prices can often go above retail prices as a result. It's very dumb, but part of ebay's success is how it taps into innate human traits, including the aforementioned competitiveness as well as the gambling risk/reward urge, and the hunter-gatherer instinct.
Fishnet 13 5.0k 5 United Kingdom
23 Jun 2009 10:55AM
I have always hated the phrase 'won' when associated with ebay, nobody has 'won' anything, they paid the most for something!

On a forum I go on there are frequently threads starting "Look what I won!!!" and I click on it thinking it's a competition win or something only to find all they've done is just bought something for more than anyone else was prepared to pay for it.
daviewat 14 4.1k Scotland
23 Jun 2009 11:10AM
But like everything else its only worth paying what you think its worth to you !!!!!!!!!!!!!!!

Houses are worth absolutly nothing at all until you have the cheque in your bank and cleared !!!!!!!!!!!!!!!!!!!!
conrad 13 10.9k 116
23 Jun 2009 11:12AM
My grandfather used to say that something is worth what a fool will give for it. And he was right.
Fishnet 13 5.0k 5 United Kingdom
23 Jun 2009 11:12AM
But it's not 'winning' is it?

I don't think something is 'worth' what someone is prepared to pay for it though, if I paid 20 for a penny chew, it doesn't mean that penny chew is worth 20, it just means I was an idiot paying 20 for it.
Nigeyboy 9 814 United Kingdom
23 Jun 2009 11:13AM

Quote:"Look what I won!!!"

Thats so true - what they should say is "look at what i was willing to pay over the odds for!! Could have got ot new for the same price like . . . . . . .. d'oh!!!!!"
whipspeed Plus
13 4.2k 22 United Kingdom
23 Jun 2009 11:14AM
Also some people don't shop around before they buy, they probably just look on ebay & start bidding, rather than doing a search and looking for the best price.
Paul Morgan 16 18.9k 6 England
23 Jun 2009 11:40AM
I collect old RF`S and most of mine came from charity shops and the like, most cost me less than a fiver.

I often see them going on ebay for vast amounts.
digicammad 14 22.0k 39 United Kingdom
23 Jun 2009 12:19PM
What is the terminology in auction houses, do they say 'won' a lot?

It isn't inaccurate to say you have won because you are effectively in a competition with other bidders. It isn't eBay's fault that people act like idiots and don't do their research properly before bidding.

I've 'won' loads of bargains on eBay and always take a look there when I have something to buy.

conrad 13 10.9k 116
23 Jun 2009 12:54PM

Quote:I don't think something is 'worth' what someone is prepared to pay for it though

It all depends on the person's viewpoint and circumstances. (Everything is relative, remember...)

Take Paul's example.

We don't have charity shops over here. So if he was able to buy items over there in charity shops for say a pound, and they're on eBay for ten pounds, you might say that they're not worth more than one pound because that's the lowest price someone can get them for.

But I can't get them for that price, so to me those same items might be worth ten pounds or more, and I might consider eBay finds for that amount a bargain.
Fishnet 13 5.0k 5 United Kingdom
23 Jun 2009 1:25PM
Hmmm or maybe they aren't worth 10 you just paid 10 for it Wink
conrad 13 10.9k 116
23 Jun 2009 1:30PM
What I meant to say was that it could be worth more to one than to the other.
digicammad 14 22.0k 39 United Kingdom
23 Jun 2009 1:32PM
Worth nothing to me, I don't buy RFs.


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