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> I just bid on a 1990 Range Rover on eBay (Your Personal Trading Community).
> I had the first bid, and it said bidding started at $1000! So I bid $1100.
> I was outbid in about 5 minutes. (The blue book value is $13,000.) Hey, if
> I could get it for $1K, I wouldn't mind flying to Dallas, TX to pick it up.
> It's up to $8100 today, and the reserve hasn't been met.
>
When I first heard about eBay I thought that it would be a boon to
purchasers looking for a great deal. I know realize that it's only a
boon for sellers.
It's the old case of supply and demand. At your neighbourhood garage
sale you pick things up dirt cheap because you may be the only one
interested in a particular item and hence demand is low and supply is
high. On eBay though, there are usually a hundred people who have an
interest in anything of value and they tend to drive the price up to
it's true market value. Add to that the psychology of bidding frenzy
and I've yet to come accross any real deals.
I think the only thing it provides for purchasers is selection.
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