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$950.00 Double Ring, seriously!

ghostknife

ghostknife

I knew there was a reason I swore off ebay about a month back and it's just getting worse. I wasted 3 hours looking for something and all I found was expensive nothing. They'll be selling dehydrated water next, oh wait they tried that already :tongue_sm

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Sydney Guy

What these guys are doing is effectively conducting a sealed bid auction. In a normal auction the winner pays only slightly more than what is the second-highest bidders "reserve price" ie no 2's highest price. They are trying to get the top bidder to pay his reserve price, and thus get the absolute maximum price for the item. The absurdly high BIN price is to ensure they don't let it go too cheaply.
 
Uncle Erik

Uncle Erik

Ridiculous. I'd love to have a double ring, but I doubt it shaves much better than a single ring. I've always been more interested in a good shave than having a collectible.
 
Slivovitz

Slivovitz

Sydney Guy said:
What these guys are doing is effectively conducting a sealed bid auction. In a normal auction the winner pays only slightly more than what is the second-highest bidders "reserve price" ie no 2's highest price. They are trying to get the top bidder to pay his reserve price, and thus get the absolute maximum price for the item. The absurdly high BIN price is to ensure they don't let it go too cheaply.
Click to expand...

I think you're right. An acquaintance of mine who sells a lot on eBay once described essentially the same selling strategy to me. Or he could just be trying to find out, from the offers, how highly people would value this, so he can use the information later.

My problem is that, on items like this, I don't know exactly where expensive ends and ridiculous starts. Except for the proverbial lucky garage sale find, Double Rings go for much more than I would pay in any case. Some of the prices that people around here describe as "steals" would be way out of my range.
 
coyotewhisper

coyotewhisper

Yes there are some weird stuff on E-Bay, always a person looking to make a quick buck.
The best I have seen lately was picture of a Gem razor with a description for a Gillette Fat boy. I do not think it had any bids.
 
S

Sydney Guy

That's because ghostknife lives in Aus and he's used Ebay Australia to search internationally. That way it automatically gives him a currency conversion into $A of the $US price. You can tell it's not an ebay.com.au listing because the category listing isn't "live" - you can't click on it to bring up other items in the same category.
 
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