3 ms·
While your broad point is correct, that's not at all how you would gauge eBay / marketplace values correctly. The $0.99 one bid example doesn't reveal much abou
by adventured 6y ago
While your broad point is correct, that's not at all how you would gauge eBay / marketplace values correctly. The $0.99 one bid example doesn't reveal much about what people are willing to pay. At a minimum you also want to use completed / historical sales, not pick out an item with 0 or 1 or N bids that is an auction in progress.
People often place an initial entry bid on items when the auction begins just to keep track of items of interest as an alternative to the watchlist, and typically there is a rush of activity in the last minute courtesy of robobids.
That Claude the Crab or Diana - depending on condition - might go for $10, $100 or $5,000+. We wouldn't know unless we check historical sales and keep in mind how condition drastically alters the value of collectibles.
Using eBay's filters you can switch to only showing sold items. Or you can use one of the numerous sites that make it easy to check historical prices.
- londons_explore 6y agoAuctions have an issue for rare items - they require at least TWO bidders to get an idea of a price. One bidder might have been happy to spend a million dollars, but the item still sells for $0.99 because nobody bid against her.
- pessimizer 6y agoThe value is going to be desire times scarcity. It doesn't matter if someone would pay a million dollars for something that is available for 99¢; I'd pay $1000 for a glass of water if they weren't available for a penny.
- Animats 6y agoHere we have eBay's listing of Beanie Babies that actually sold, sorted highest price first. There are 21 that actually sold over $5000. How many of those are wash sales is not clear. [1] https://www.ebay.com/sch/i.html?_from=R40&_nkw=Beanie+Babies&_sacat=0&LH_Sold=1&LH_Complete=1&_sop=16 https://www.ebay.com/sch/i.html?_from=R40&_nkw=Beanie+Babies...