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Why do people pay so much more....

by 100dollarbill
10 replies
Sup warriors,

Quick question for anyone who can answer it. How the heck does someone sell an iphone on Ebay for 1 two even 3 thousand dollars when its just an iphone im not getting it. If a person can walk into apple and buy the same phone for less. Why would someone else in there right frame of mind pay so much more than whats its really worth. I was reading about a flappy bird app phones selling for big money but that has a gimmick behind it which is the actual app which is no longer available to be bought rare thing to have etc making the phone desireable but brand new out the box phones why do they sell so much on ebay? Thanks in advanced to anyone who can shed some light on this.
#pay #people
  • Profile picture of the author eac113
    Ever heard the saying "there is a sucker born every minute"?
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  • Profile picture of the author IMToThePoint
    Hmm I guess its a good question I have seen it before near xmas time especially.

    For example few years ago i remember seeing the Nintendo Wii selling for $1000+ basically due to the fact that most of the stores had mostly sold out as people were continuing to bid to secure their present to give to their child on christmas day which was one of the reasons.

    A fun example would be this think of an old skoda car that you probably wouldn't be seen driving that costs maybe $100 to buy versus a brand new BMW for say $30,000, now lets change the picture a bit what if i was to put $20,900 cash into the skoda, which do you think would have the most interest?

    i know for me it would be the Skoda simply due to the fact that it had the cash in it and I would also get a car.

    For your example with the Iphone, it could be costing so expensive for either what it does, what it comes with or what exactly is on it like a discontinued app.
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  • Profile picture of the author JensSteyaert
    The only thing i can think of is that people are too lazy to get out of their house and want it shipped to their door, and the only thing they know is Ebay...

    Other than that there is no logical explanation i think.
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  • Profile picture of the author talfighel
    People don't care where they get this product, as long as they are one of the first ones.

    I also don't get why people are willing to pay $500+ for the new Iphone version.
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  • Profile picture of the author Peter Kontango
    if it's really true, it's probably for that addictive game
    but I don't believe this is happening...
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    hmm

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    • Profile picture of the author seoboyz01
      Originally Posted by Peter Kontango View Post

      if it's really true, it's probably for that addictive game
      but I don't believe this is happening...
      For some people, bidding on and winning an eBay auction can be an adrenaline rush.

      Though, realistically it could be as simple as a competitor driving up the bid price so that no one buys it and then just not paying at the end. Lots of people with fake accounts, something like that could be possible as it's not required to actually deposit the money to match at the time of your bid.
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  • Profile picture of the author SnackMemory
    The iphone is great, but i always wait and get it when its older, knocks alot of the otherwise over valued price.
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    • Profile picture of the author eric w
      There are 2 things going on in that case. When I was doing big numbers buying and selling iphones on ebay, I noticed a couple of issues regarding that.

      People don't always pay. There are idiots who are in certain categories..cell phones being one of them...who bid high on phones, just to see how high they can raise the price-with no intention of paying.

      For many of those auctions, you'll notice the highest bidders have a "0" or less than "5" feedback.

      I didn't run into that problem until I started selling high demand (not just high priced) items.

      For instance, I was making good money selling xbox cards. They sold for $59 at the most, but were high demand. I could sell 7-10 per day. There were people just raising the bid price with "0" feedback. There were alot of them, not just a few.

      I complained to ebay, but that didn't help.

      Also, there are some people who pay more than items are worth, but these are few, in my experience.
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      • Profile picture of the author arindamb
        Originally Posted by eric w View Post

        There are 2 things going on in that case. When I was doing big numbers buying and selling iphones on ebay, I noticed a couple of issues regarding that.

        People don't always pay. There are idiots who are in certain categories..cell phones being one of them...who bid high on phones, just to see how high they can raise the price-with no intention of paying.

        For many of those auctions, you'll notice the highest bidders have a "0" or less than "5" feedback.

        I didn't run into that problem until I started selling high demand (not just high priced) items.

        For instance, I was making good money selling xbox cards. They sold for $59 at the most, but were high demand. I could sell 7-10 per day. There were people just raising the bid price with "0" feedback. There were alot of them, not just a few.

        I complained to ebay, but that didn't help.

        Also, there are some people who pay more than items are worth, but these are few, in my experience.
        Apparently things aren't always what they seem. Ebay is a tricky game that makes you think are there really so many fools out there paying so much for some items...but you mentioned the reality here. "Not everyone pays" is the answer to the question asked by the OP.
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  • Profile picture of the author Joan Altz
    Back when I was doing Ebay (this was 10 years ago by the way), I was having to constantly monitor bids for the exact reason eric w stated: non-payers. But scammers would do the same thing and the situation was worse on Yahoo! Auctions (yes, Yahoo! tried to compete with Ebay at one time [for those of you who never heard of it] and I had some good success on there selling items from a dropshipping company).

    It's the same thing that plagues other marketplaces now, like Flippa.
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