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Why do some seller put an item up for 100 x the value?

I see some sellers put up a listing that is stupidly priced. Take the Coke Starr X openers. I see them for 999 dollars. 

I know Starr X and this one was made from 43 to 75 when Brown moved to W Germany. Even the early ones are only worth about 25 dollars in good condition. this one is a dime a dozen.  They are with the patent date worth about 10 bucks maybe 15 in really good condition.   Do these people think they will get some crazy bid? Is there something nefarious going on?  This s not a price in any kind of reality.

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Re: Why do some seller put an item up for 100 x the value?

Wishful thinking. I've been looking at a lot of beauty items on eBay and there are so many sellers asking for $4-5 for foil sample packets. Obviously no one buys these, there are no sales for them in the sold category. I assume it's the sort of mentality that drives "this will come in useful someday" - these sellers don't mind if their stock stays in storage for 5 years.

Other than that, I've seen random things worth $15 priced at $2000. In that case I think the sellers are waiting for new stock to come in and don't want to take down the original listing, so they price it absurdly high knowing no one will buy. That gives them time to restock then lower the price.

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Re: Why do some seller put an item up for 100 x the value?

I doubt very much its any accident or not knowing. I have seen these auctions up for years. I do believe it could be some kind of thing as one here said that its not what they are selling. You buy X and get Y and use eBay for your network. Maybe a gun that is black market or drugs. What ever it is its not simple hitting the wrong numbers on a key board. This may explain a few months but not years. It also does not make any sense that they are hoping to get someone to pay that for the item.  If you type in Coke Starr X you get a hundred of them. They run from pre 1933 with just a big X under Starr to 33 to 43 with 1925 patent date to 43 to 75 with the made in USA and patent number. The very early ones are not rare and you can buy for 25 bucks in varying condition.  One of the highest is a Coke, patent date so from 43 to 75 not rare at all and price is 999.98. Been up for a few years that I have seen and  I can find better shaped ones with patent date for 15 bucks.  It could be these people are just lazy and do no research I guess. I have PMed a few and told them what its value is. One said thanks and the other nothing. I have seen it in many other places but I am just using the opener as I watch these listings for collecting reasons.

Message 17 of 27
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Re: Why do some seller put an item up for 100 x the value?

I dunno......

 

Sometimes clueless pays off.

 

I was researching a clothing item last night, before listing - 2 have sold for about $105, and then the ENTIRE sold list dropped down to $32 and below.

Message 18 of 27
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Re: Why do some seller put an item up for 100 x the value?

I’ve heard people speculate some of the crazy Beanie Baby prices are really money laundering.

 

Seems a little far fetched. Or maybe not. LOL.

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Re: Why do some seller put an item up for 100 x the value?


@readabouthorses wrote:


Or they are doing what we used to do selling horses ... price it way higher than you actually want and then when someone comes along and says the price is too high you say well make me an offer. So price the horse at $10,000 when you will really take $5,000 and then someone offers you $7,500. 


I don't know horses but assume if you'll take $5,000, it's worth $5,000, and if you price it at $10,000 nobody will even contact you about it. 

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Re: Why do some seller put an item up for 100 x the value?


@atikovi wrote:

@readabouthorses wrote:


Or they are doing what we used to do selling horses ... price it way higher than you actually want and then when someone comes along and says the price is too high you say well make me an offer. So price the horse at $10,000 when you will really take $5,000 and then someone offers you $7,500. 


I don't know horses but assume if you'll take $5,000, it's worth $5,000, and if you price it at $10,000 nobody will even contact you about it. 


Then you wouldn't make a good horse trader. Always start it out at way more than you want. Buyers love to talk you down and feel like they won so they will show up.

Message 21 of 27
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Re: Why do some seller put an item up for 100 x the value?

If I listed a car worth $5,000 for $10,000 I'd get no contacts. Hell, I've got one worth $6,000 listed for $7,000 and barely get any emails on it at all. Horse people must be a different crowd.

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Re: Why do some seller put an item up for 100 x the value?


@atikovi wrote:

If I listed a car worth $5,000 for $10,000 I'd get no contacts. Hell, I've got one worth $6,000 listed for $7,000 and barely get any emails on it at all. Horse people must be a different crowd.


They like to brag about their "wins". They like saying this horse was for sale for $10,000 but I got them down to $7,500. Look at me ... look how good I am at this.

 

This is why I don't like Ebay's Best Offer. I had enough of that selling horses and I never liked it at all but my ex liked haggling so we haggled prices. I remember once going to look at a horse for sale for $1,000. She was just a yearling and all thin and dirty and long haired but her bloodlines were great. The girl was hurting for money but we haggled. She would take $800 (which was the stud fee she paid for this foal), then it was $600. It was getting late so I finally just threw 4 $100 bills on the table and said that is it .... she took it. We took her home, fattened her up, showed her for a year and then sold her for a lot of money to someone who make her top Palomino mare of Indiana.

 

I don't think I've ever paid full price for a horse but I never even consider haggling over buying a car. Strange isn't it.

Message 23 of 27
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Re: Why do some seller put an item up for 100 x the value?

Seller may have no idea what the item is worth, so he is testing the waters to see what the market will bear.  He may have researched via completed listings, but is not happy with those prices.  

 

Any item is worth what a buyer will pay for it, to that buyer.  This seller may be hoping that a buyer who wants this badly enough will pay the high price he has chosen.

 

Buyers who don't have specialized knowledge of an item, and who may think the price is justified, might buy it.

Message 24 of 27
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Re: Why do some seller put an item up for 100 x the value?


@siriusrising wrote:

I see some sellers put up a listing that is stupidly priced. Take the Coke Starr X openers. I see them for 999 dollars. 

I know Starr X and this one was made from 43 to 75 when Brown moved to W Germany. Even the early ones are only worth about 25 dollars in good condition. this one is a dime a dozen.  They are with the patent date worth about 10 bucks maybe 15 in really good condition.   Do these people think they will get some crazy bid? Is there something nefarious going on?  This s not a price in any kind of reality.OP


Greed is your answer . When I first began buying on e bay I came across a pair of old worn out flip flop shoes ,, big , ugly  and no name brand . The price was 300 dollars . Just out of burning curiosity  I contacted the seller and asked if there was something special about these shoes that they didn't cover in the listing and if not why such a high price tag ? They replied  '' if you have to ask  you'd never understand ''  I've been around the block a few times since then  and I ''get it '' now . However it just goes to show the lengths some people  will go to make money . tulips 

Message 25 of 27
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Re: Why do some seller put an item up for 100 x the value?

Sentimental value.

 

I have a Coke Starr X opener that was given to me by Abraham Lincoln when I visited the White House. wink

Message 26 of 27
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Re: Why do some seller put an item up for 100 x the value?

if it sells maybe they are laundering money.

 

Message 27 of 27
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