Rant about the "Market" on the bidding site

People can ask whatever they want and you can refuse to pay what they ask.  It's all about supply and demand.  Gouging though really doesn't apply, at least for me, in items that are not a necessity. I may not like the price but it really depends on how badly you want it.

Menards sells online. Unless the production has stopped on a particular item, folks can just go to Menards.com, buy these building and have them shipped to their front door.

I am I missing something here?

@H1000 posted:

Menards sells online. Unless the production has stopped on a particular item, folks can just go to Menards.com, buy these building and have them shipped to their front door.

I am I missing something here?

I'm pretty sure he means items not produced anymore based on his first sentence.

No. I've seen items still in stock on menards website that people are asking almost double for.  No reason or rhyme.

@E-UNIT-79 posted:

No. I've seen items still in stock on menards website that people are asking almost double for.  No reason or rhyme.

Same here. There are certain Menards buildings that are not in stock, but the majority of recent ones are. I know - I just got two.

I really think that people need to look more widely than fl*aBay, which is a default setting IF you think something might not be available.

I like a free market.  

Chuck

Welcome to Capitalism, kid!  

If you don't like someone's prices don't buy it, that's how the free market works. Complaining about it here, isn't going to make a bit of difference.

As others have said, you can charge whatever you want.  More power to them if they get what they want.   Also, do not blame consumers.   If they didn't like the price, they could have simply not bought it.

It's not my job, nor care, what anyone else buys or sells, and for how much.

If your rant is based on not being able to buy something you want because others bid higher than you can go, start saving your pennies.  Or, if able, get a better paying job.

I agree with Marty, this isn't gouging.  It is not like selling a 16 oz bottle of water from Great Value for $5/bottle to people without water due to a storm.

The folks the OP is referencing are buying something they really don't need for a price they think it is worth.  If they don't do the research before hand that is their issue, not mine.

When a manufacture runs an engine,  I think is let’s say unique.  Maybe because it has a low msrp price or maybe it’s just plain “hot” item.   Case in point lionel’s most recent run of big boys.   I bought 3. I only wanted one.   I sat on two knowing that once dealer stock is gone ebay blows up.  Needless to say I got the one I kept for free.   I’ve done this a handful of times or more.   I did this as kid when the newest video game consoles came out.   Preorder all I could.   Waited till they hit the street and hawked them on eBay.   Never payed for my own.   I wouldn’t say it’s a gouge.   I think it’s actually flattering to menards.   They make stuff that is so good people will pay up when it goes scarce.  having some of their stuff myself I’d pay up for a building or two I think they are worth it.  

good men work for their money.   Smart man puts his money to work!

The bto market from Lionel will lead to a higher resale price. This is part of the reason that I preordered my b&o sd70. Despite the fact that I don’t have a layout built, the bto system combined with a fantasy paint scheme made pre ordering this one a must. I don’t want to pay new prices for a used engine.

This is nothing new. Plenty of things are overpriced on the "big auction site". Plenty of overpriced things never sell either.

I've often wondered how long a seller can relist an item before the fees eventually cut into the profit.

Having said that, you may have missed the numerous Lionel Legacy PE Berks that were listed for upwards of $10,000 this past holiday. I watched them all, I don't think any of them sold, there were just a few schill bidders that never paid out ,and they were relisted until the sellers pulled the ads because there was no big "payday".

Price gouging doesn't really apply to non essential things like toy trains anyway. Theoretically , they are a waste of money at any price.

Now, that $3.02 a gallon I spent at the gas pump today, thats gouging. The oil companies know I have to buy it at any price, or I won't make it to work.

(BTW I own one of the earlier scale PE berks. It doesn't have whistle steam, so I'll let it go for a deal at $9999)

Supply and demand, don't like the price don't buy.

@Traindiesel posted:

Welcome to Capitalism, kid!  

I don't have anything against the capitalism aspect of it. I believe in 'Merica, eagles eating roadkill off the interstate in Iowa, NOT government handouts, Lee Greenwood and all that stuff. My perspective is one of a Menards employee. Ethically, I couldn't bring myself to even ask $230.00 for a $60 building. Now if a guy is going to offer me $40,000.00 for a postwar Hudson, I'll take it. The bidding site is the antithesis of what I see on our own buy/sell/trade threads here. I've always felt like people offer good deals because they take that money and flip it into things they want.

No matter what one is in the market to acquire, knowledge is everything.  More than once, I've gone into a swoon about something that ended up a bad deal because I overpaid or its value didn't hold up because of marketplace realities.  I've seen countless items on the primary online auction site that are overpriced, offered by an individual or entity that is clearly out to maximize its profit.  About 10% of the time, in my experience, the description isn't fully accurate, but not so far off as to justify a strongly negative review.  Be an informed consumer.  If an item seems overpriced, consult other sales venues, such as retail dealers and this Forum (I saw two identical "NIB" passenger-configured GP9s for sale today, $200 apart).  View claimed scarcity with skepticism - two months later, the item may no longer be "scarce".  That scarcity may exist because the item was made in small quantities and wasn't popular, for good reason.

OK, Im going to risk my life and chime in.   I have a lot of stuff on my website...like 4000 items io think right now.  Generally, new items that are readily available, I discount below retail.  I dont even do that "Regular price $349, sale price $329." thing.  Retail price is only relavant when something is currently available from the manufacturer.  After that, its all supply abd demand.  Some things go up in price, some go down. Some ppl ask what I would call "ridiculous prices" and some ppl, IMHO, give stuff away.

One of the things that i see from the Manufacturers/Importers, if that they price things strictly based on their cost, and nothing else.  This is foolhearty.  The price to import from overseas varies with the exchange rate, and other variables.  Any sane company, as far as I'm concerned, would price average their products to keep some stability in their sales, and market value.   I see too manufacturers undercharging on some items, and over charging on others. It does not help the market price at all.

Just as an example...if menards undercharged on some items, based on what a similar item in the market would cost today, and a bunch of ppl scooped them up, and are reselling at market value, whose fault is that?  If Menards did their homework, they would have sold the items at market value, and made a few extra bucks, rather than unintentionally "wholesaling" to the resellers.

And as others have said...this stuff isnt food.  I dint know of any cases of someone who died in the hospital cause they couldnt afford the train they wanted (OK......i know im gonna hear it for saying that)

I have to agree with the late great Sy Sims, who coined the phrase "An educated consumer is our best customer".  I love when some comes to me and knows what they want, and has done their homework, and knows what a fair price for something is in the current marketplace.  Im not out to see if I can buy a boat by selling trains, but i would like to be left with some money when they day is done, for all my effort.  If you think there is no effort in running a legit business, then obviously you;ve never run a business.

beth

Interesting perspective and thanks for posting it, Beth!

If they know the price is inflated, they can pass it by . Only the person who paid the inflated price is at fault, not the person trying to sell. If the price is too high, don't buy. Sooner or later if they want to sell it the price will come down. That being said, P.T. Barnum said there is a sucker born every minute. Today, I believe it is every 30 seconds.

Ebay only makes money when items sell, most sellers list for free and pay out only when an item sells.

This makes for a lot of over-priced junk listings, but electrons are cheap and Ebay gets eyeballs for ads and real sales.

Ebay is great for helping putting a value on sold used items, so we don't over pay online or at swap meets.

I just wish their fees were less, they are now about 15% of sales + shipping price.

Craigslist is still free and local with no shipping cost for Model Train type sales, I go there first everyday for buying.

But I sell on ebay - because that is where the buyers are for our toys.

As Bernie Madoff said:

We buy a stock and wait for it to go up. If it does not go up, we don't buy it.

BTW, I agree with the theme of the OP, there are many "buyer beware" sellers on the big auction site.