Is it just me?

[Sammajoor]

Has anyone noticed that people are trying to sell their old stuff for ridiculous prices.

 

A Willier for R10000 hell you can get a new bike for that price and then IT IS 10 Speed.

 

Record Ergo levers for a mad price and then they bump it to keep the thread alive

 

People drop your prices, if you have something you want to sell, price it to sell it.

 

Do not rip someone off because you got ripped off.

 

Cut your losses and move  on

 

As the Eagles sang        "GET OVER IT"

 

 

 

[Weekend_Warrior]

But i have an old 8 Spd Sora Groupset and i want R3000.00 for it.

[Guest Big H]

Has anyone noticed that people are trying to sell their old stuff for ridiculous prices.

A Willier for R10000 hell you can get a new bike for that price and then IT IS 10 Speed.

Record Ergo levers for a mad price and then they bump it to keep the thread alive

People drop your prices' date=' if you have something you want to sell, price it to sell it.

Do not rip someone off because you got ripped off.

Cut your losses and move  on

As the Eagles sang        "GET OVER IT"


[/quote']

 

Record Ergo Levers...... not only mad price but you MUST be mad to buy kempekkernoglia!!!!!!!!

[Spinnekop]

I think.......OK....that in itself is a scary statement......

But OK....

 

I think 80% of the time the price is put up, not knowing what the second hand market looks like.......

 

I don't think it is intentional.....just done not knowing......

[Guest Agteros]

Yep, if you want to keep it keep it, and if you want to sell it, price it as such.

 

The prices people want for second hand items are such that I'd rather buy down a bit, but to buy new (at least there is a guarantee/warrantee/come back!)

 

 

This I got from a sharenet newsletter last night:

 

The term ?endowment effect? was coined by Richard Thaler, now at the Graduate School of Business at the University of Chicago

An owner implicitly or explicitly demands a premium for an owned asset.

For instance, in one well-known series of endowment effect experiments, researchers, Kahneman, Knetsch and Thaler (1990) found that randomly assigned owners of a mug required significantly more money to part with their possession (around $7) than randomly assigned buyers were willing to pay to acquire it (around $3).

In a follow-up, there was a 3rd group known as Choosers. Choosers were not endowed with a mug. Instead at each of the prices that buyers and sellers considered, the Chooser was given the choice between receiving that amount of money or the mug.

Choosers behaved MUCH closer to buyers than to sellers. This suggests that the endowment effect does not stem from buyers, but from sellers over-valuing the goods once they own it.

This bias is also referred to as the status quo bias.

This bias is very evident in an owner of a business, looking to sell. Having built up emotional attachment to the business, and when it comes to selling, a business owner invariably has a higher notion of the value than the potential buyers.

But in the cup test it?s evident that this bias goes even beyond the emotional attachment ? its instantaneous and even apparently felt by those who buy and sell for a living.

The bias is inconsistent with standard economic theory which says that a person?s willingness to pay for an asset should be equal to their willingness to accept compensation for that same asset.

The effect of this bias is seen in an investor?s approach to shares that have been inherited, received by way of share options or merely acquired at various prices. Even after taking into account the impact of switching costs and taxes etc, there is this natural bias to retain an asset in a portfolio.

[TNT1]

 

yeah, and there's some oke selling a bike here, and now he's crying cause he's being offered less than what he paid for it.... What the hell, did he think it was an investment and it would appreciate?

 

 

 

[carlo_sg]

Agreed, but some people are making rediculous offers as well...

Someone was selling a 2nd hand Dura-ace Groupset for R6000 (which is a fair price), and some punk offers R2000 as his "final' offer...

 

Yes, the market is in the toilet, but be reasonable (buyers & sellers)

[scotty]

With Spinnerkop, i dont think most of the time its intentional especially when new members advertise. A lot of people dont know what the 2nd hand price is as they base it on what they paid new. Hubbers have been noted to point this out to them, often not quite nicely.

[Speed Devil]

The buyer will always try and get maximum price his goods. The price on all 2nd hand goods are open to negotiation, so the buyer advertises his product for more, knowing that he is going to be knocked down and still make what the product is worth.

 

 

[fandacious]

In 1994, Dan Ariely and Ziv Carmon performed an experiment at Duke University which showed the endowment effect using a singular product, for which conventional substitution effects are not applicable. Duke University has a very small basketball stadium and the number of available tickets is much smaller than the number of people who want them, so the university has developed a complicated selection process for these tickets that is now a tradition. Roughly one week before a game, fans begin pitching tents in the grass in front of the stadium. At random intervals a university official sounds an air-horn which requires that the fans check in with the basketball authority. Anyone who doesn't check in within five minutes is cut from the waiting list. At certain more important games, even those who remain on the list until the bitter end aren't guaranteed a ticket, only an entry in a raffle in which they may or may not receive a ticket. After a final four game, Carmon and Ariely called all the students on the list who had been in the raffle. Posing as ticket scalpers, they probed those who had not won a ticket for the highest amount they would pay to buy one and received an average answer of $170. When they probed the students who had won a ticket for the lowest amount they would sell, they received an average of about $2,400. This showed that students who had won the tickets placed a value on the same tickets roughly fourteen times as high as those who had not won the tickets.

Also when asked about the reasons for their decisions they presented different justifications for the amount. Those in a position to purchase tickets for $170 cited various other purchases they could make such as beer, food, music and clothes. Those in a position to sell a ticket cited school pride and their expectations of memories they could pass on to their children and grandchildren. In a rational sense (and according to traditional economic theory), neither the time they spent camping out to receive the tickets nor the experience of the game itself are dependent upon the outcome of the raffle and therefore students should have viewed these tickets the same way. The endowment effect shown in this case may be an effect of cognitive dissonance. The time spent camping out, waiting for the chance to be in the raffle became worth about $24/day to the students who didn't win the raffle, but was alternatively worth about $340/day to the students who won the raffle.

[TNT1]

 

With Spinnerkop' date=' i dont think most of the time its intentional especially when new members advertise. A lot of people dont know what the 2nd hand price is as they base it on what they paid new. Hubbers have been noted to point this out to them, often not quite nicely.

[/quote']

 

Fair, but you must remember that a lot of us are not quite nice to begin with...

 

[Guest Big H]

With Spinnerkop' date=' i dont think most of the time its intentional especially when new members advertise. A lot of people dont know what the 2nd hand price is as they base it on what they paid new. Hubbers have been noted to point this out to them, often not quite nicely.

[/quote']

 

Spinnerkop ........ is this Robocop's kleinboet???????

[scotty]

So noted TNT

[NotSoBigBen]

With Spinnerkop' date=' i dont think most of the time its intentional especially when new members advertise. A lot of people dont know what the 2nd hand price is as they base it on what they paid new. Hubbers have been noted to point this out to them, often not quite nicely.

[/quote']

 

Spinnerkop ........ is this Robocop's kleinboet???????

 

No no 'spinner'kop is the east rand version of robocop oom

[shaunh]

Fair, but you must remember that a lot of us are not quite nice to begin with...

 

Hey, plofstof, speak for yourself!!!

[scotty]

With Spinnerkop' date=' i dont think most of the time its intentional especially when new members advertise. A lot of people dont know what the 2nd hand price is as they base it on what they paid new. Hubbers have been noted to point this out to them, often not quite nicely.

[/quote']

 

Spinnerkop ........ is this Robocop's kleinboet???????

 

No no 'spinner'kop is the east rand version of robocop oom

 

Take out those earplugs when i shout at you (yesterday Rietvlei)

 

Wish i could ride like a spinnerkop BigH.