At 10:13 PM 3/21/02 -0800, skipp isaham wrote:
>Ebay has even changed the relative value of a Dentron
>GLA-1000 Amplifier. A late version C model just went
>for over $400. Plain and B versions are often up and
>over the $200 mark now.
There's an interesting piece of business school theory I've read about that
holds that in an auction, the winning bidder will almost always pay an
amount that the vast majority of other bidders think is too much. After
all, he's the one who kept bidding after everyone else said "too rich for
my blood."
When you take a marketplace as big as EBay, this seems to prove out a lot
of the time, because it often finds the one buyer who simply "has to" have
the item.
Because you can see what a given item has been selling for recently,
sellers are encouraged to set their reserves higher and higher. I suspect
that this may lead to a boom and bust cycle, when things stop moving
because the sellers' expectations have truly gone through the roof.
73, Pete N4ZR
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