meaning of price gouging

[nozzle_28]

So, my son and I are in a debate. I have toilet paper I can list for under cost, and with the high bids toilet paper are receiving, my son said it’s illegal and price gouging because the bids are going high.  I told him if I’m listing it under normal cost, it isn’t, and I can’t control bidding amounts. Thoughts on this?

[penguins_dont_fly]

https://consumer.findlaw.com/consumer-transactions/price-gouging-laws-by-state.html

[coffeebean832]

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@nozzle_28 wrote:

So, my son and I are in a debate. I have toilet paper I can list for under cost, and with the high bids toilet paper are receiving, my son said it’s illegal and price gouging because the bids are going high.  I told him if I’m listing it under normal cost, it isn’t, and I can’t control bidding amounts. Thoughts on this?

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If you don't want to take advantage then list it fixed price- not auction- at a reasonable price. I'm sure you'll sell it within the hour.

[penguins_dont_fly]

https://www.google.com/url?q=https://www.nj.com/hudson/2020/03/jersey-city-store-hit-with-90k-in-fin... 

https://www.google.com/url?q=https://www.nbcnewyork.com/news/local/manhattan-hardware-store-hit-with... 

https://www.google.com/url?q=https://timesofsandiego.com/crime/2020/03/09/10000-fine-jail-possible-f... 

But most importantly:

https://community.ebay.com/t5/Announcements/UPDATE-Important-information-about-listings-associated-w... 

[penguins_dont_fly]

And, of course, the one everybody's talking about

https://www.nytimes.com/2020/03/15/technology/matt-colvin-hand-sanitizer-donation.html 

[luckythewinner]

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@nozzle_28 wrote:

So, my son and I are in a debate. I have toilet paper I can list for under cost, and with the high bids toilet paper are receiving, my son said it’s illegal and price gouging because the bids are going high.  I told him if I’m listing it under normal cost, it isn’t, and I can’t control bidding amounts. Thoughts on this?

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Every price gouging law I have seen refers to the selling price - I have not seen any provision in those laws that exempts a transaction based on method used to arrive at that selling price.

[inthewoodspam]

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@coffeebean832 wrote:

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If you don't want to take advantage then list it fixed price- not auction- at a reasonable price. I'm sure you'll sell it within the hour.

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I believe the question itself makes it pretty clear they do not wish to sell at or below cost.

[coffeebean832]

Yes, I know- I was trying to offer my opinion in a polite way.

[bar-29368]

Like he had a choice?

[ersatz_sobriquet]

Whomever is on the side of the debate that feels that a seller should not profit over norms from the shortages because of coronavirus is the more ethical person, no matter that TP is not on the banned list. 

would that be you or your son? 

[bbingo]

Fixed price at fair price or expecting panicked buyers to raise the bid. 

Which method is ethical?   

Which method is compassionate?

Which method reveals integrity?

Which side do you want to land on?

Sounds like wisdom is found in the heart and mind of the child and not the parent...

[andrew547]

Price gouging laws refer to the act of selling goods/services, not listing or offering them. People are not bidding up TP because it's a collectible, they're bidding it up because it is a necessity and they're scared of not having it during what is now a national emergency. If your TP selling price is greater than what you did/could get for it before the Coronavirus, that is profiteering off the disease and the fear.

As I said previously, it's illegal to run red lights. You can tell the judge you ran the red light because you were late for your flight to Acapulco, but I don't think it's going to matter.

[ersatz_sobriquet]

Ok, I can't take it anymore, I have to ask. Why the heck would somebody buy cockroaches? Wouldn't most people give those things away by the thousands if they could? 😄

[coffeebean832]

To feed to their pets?

[penguins_dont_fly]

Toilet Paper is not in the same category as the hot must-have Christmas toy or the limited edition Trendy sneakers or purse that you  managed to snag.

Selling things for a huge profit that people are in NEED of because of temporary shortages during a crisis is unethical and illegal.

Doubly so if you are one of those people that caused the shortages by cleaning out your local store(s) just to make a profit.