Price gouging question.

[inhawaii]

If i were to buy some of those "overpriced" N95 masks to re-sell, and marked them up using the SAME calculations i use to mark up any of my other items, no more no less, would that be considered price gouging?

[ersatz_sobriquet]

Amazon just took down 1 million listings related to coronavirus fears and whatever their qualifications are for price gouging. 

[femmefan1946]

The best protection against Covid-19 (and the flu that has killed some 12 THOUSAND Americans this winter) is to wash your hands.

https://www.youtube.com/watch?v=48etEql31D4

[chapeau-noir]

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@inhawaii wrote:

Everyone likes to SAY price gouging but nobody can say what it is.

A box of 10 3M brand 8210 N95 face masks.   At what price is it price gouging?  Is it ok if i sell it for a dollar less than that amount?

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I think it's because your question really can't be answered definitively.  The concept of "price gouging" leaves the sphere of simple buy/sell commerce and enters that of moral practice, whereupon it becomes a loaded question.  The only thing that can be said is that if someone sequesters supplies needed for the support of life of a community, and then sells them for prices out of reach of that particular community, they are price gouging because they're withholding something necessary to the continuance of life of the community. 

[lucy4152008]

Yes, it's a moral question. And it's morally wrong.

[lucy4152008]

I've reported a seller who is in violation of everything on that list, plus he says he is in USA, but is not. His Masks started out at 8.99 each, he now has them listed at 329.99!! 

[sin-n-dex]

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@inhawaii wrote:

If i were to buy some of those "overpriced" N95 masks to re-sell, and marked them up using the SAME calculations i use to mark up any of my other items, no more no less, would that be considered price gouging?

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eBay published a statement that if you don't comply with their policies they will remove the listings.

I think trying to profit by selling things in the event of a disaster is in bad taste.

C.

[ekmadonna]

I think it's despicable to even think about attempting to profit  from a World Wide Epidemic that has caused so much death and tragedy with no end in site! My small city in Rhode Island is dealing with the shock of this hitting our close knit community. There are 2 confirmed cases from a Catholic School less than a mile from where I live. The first was a 40 year old male the 2nd case today is a 17 year old student in the school. Our City is in shock and praying that this does not spread and get worse. If it were me I would buy the masks and GIVE THEM AWAY!

[lightlily_arts]

If I were to entertain reselling I would have to add the eBay and PayPal fees. If I chose to make a profit of $1  that $200 purchase would need to be sold for $231.40.

If  you sold for $201 your net would be $174.57

At the end of the day why would anyone bother for $1.00

Buyers would still see you as price gouging since they would not know what you paid.

I was looking at a listing for masks that sold for $20,000.  At first glance it seems exorbitant but it was for 5,000 masks making them $4.00 each.  Still two months ago I bought those masks very cheap at about a dollar a piece.

What I have seen is that people bought boxes of masks and selling them for  $7-8 a piece.

[inhawaii]

Ok this will be my last post on this topic and i'lll  let it die.

So let's say i'm an eccentric millionaire (which i'm not). 

I go on ebay and buy up  every single mask i can buy.

I turn around and re-sell them for HALF of what i paid. 

According to most of you, that would make me a dirty, rotten, no good price gouger.

[2015mhfashions]

Took up a whole lot of room for a whole lot of nothing !

[luckythewinner]

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@inhawaii wrote:

So let's say i'm an eccentric millionaire (which i'm not). 

I go on ebay and buy up  every single mask i can buy.

I turn around and re-sell them for HALF of what i paid. 

According to most of you, that would make me a dirty, rotten, no good price gouger.

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Ludicrous hypotheticals do not demonstrate anything except the willingness to defend a losing position at any cost. 

[fern*wood]

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@inhawaii wrote:

Ok this will be my last post on this topic and i'lll  let it die.

So let's say i'm an eccentric millionaire (which i'm not). 

I go on ebay and buy up  every single mask i can buy.

I turn around and re-sell them for HALF of what i paid. 

According to most of you, that would make me a dirty, rotten, no good price gouger.

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Yes, of course it would...and a stupid one.    Why would you think the fact that you can afford to overpay for an item would then justify overcharging others?  

[blu_owlie]

Is it ethical to make profit on desperately needed medical supplies?

[tellmemama]

Clearly there are more than a few posters who think the OP can buy them for $20.  How is it none of them can comprehend that used to be the price?  And missing whether or not it's price gouging if she bought them for $200 (what is likely the current MP for her) and sells them for a dollar more??

Reading is fundamental.

PS:  I personally wouldn't waste my time for a dollar.

[wesk_36]

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@blu_owlie wrote:

Is it ethical to make profit on desperately needed medical supplies?

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Ask Big Pharma.