Over priced items

[klez]

Is there something that can be done about items that that are extremely overpriced with wildly incorrect information about their rarity? In Stamps you have items that are worth maybe 1c, selling for thousands of dollars. 

[susanb1872]

I see it in other categories too besides stamps. Beanie Babies and Corning Ware casserole dishes are a couple. I had 2 sales of Corning Ware Blue Cornflower 1 quart dishes that I sold around $15 each. And there are hundreds that are listed for under $100 but there are some sellers who think they hit the jackpot and try to sell these dishes for between $1000 and $4000. Yet the highest price in the last 3 months has been around $35.

[fashunu4eeuh]

As a competitor also selling stamps, there is nothing substantial you can really do. Best thing is to worry less about other sellers’ choices, and more about one’s own listings. I would not advise interfering with other seller’s lawful practices. Keep in mind that there are those everywhere who are misguided, foolish, or uninformed. 

[oldwestcoins]

Price is just an opinion.  No one person could possibly be the last say in pricing.  Supply and demand. And as always, it is up to the buyers to determine the price. If they pay too much, that is on them. At the same time, if they pay too little, they get a bargain.

[chapeau-noir]

This is eBay, the land o' aspirational pricing where things are **rare!!!!!**. In fact, I think that's maybe one thing that *hasn't* changed down through the years.

[inhawaii]

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@klez wrote:

Is there something that can be done about items that that are extremely overpriced with wildly incorrect information about their rarity? 

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Yes, something can be done.

Don't buy them.

[theteamsetguy]

@inhawaii ,

Great answer!

[bashort]

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@redlinear wrote:

Now, if it was something essential during an epidemic?   That's different.

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I really appreciated the way Amazon suspended Amazon 3rd party  price gougers, Amazon wanted all of the price gouging for themselves, no 3rd party sellers to share the bounty  with

[mam98031]

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@klez wrote:

Is there something that can be done about items that that are extremely overpriced with wildly incorrect information about their rarity? In Stamps you have items that are worth maybe 1c, selling for thousands of dollars. 

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The buyers are likely going to take care of this on their own by not buying it.  Or if they do buy it and they get something other than what they thought they were getting, they will likely file an INAD.

The buyer may also leave some bad comments on the seller's feedback depending on the specifics of the transaction.

But whatever happens, as we all know, Ebay has some pretty strict stats they keep on sellers and a seller that misbehaves like you describe may do OK on Ebay in the short term, but it will catch up to them as there stats get hit time and time again.  Then Ebay will step in and sanction the seller.

Just specifically about an item being over priced.  I would not want anyone to include Ebay coming up with some way to force the seller to change their pricing.  If Ebay were to do it that is called Price Fixing and it is simply not legal.  Which is why I don't understand how Amazon gets away with doing this.  Because if they think your item is overpriced, the deactivate the seller's listing until such time they lower the price enough to satisfy them.  This is so wrong on so many levels.  I would absolutely hate to see Ebay go this direction.