eBay prices tanked

I have had just a few observations of prices on things that I am
familiar with. And I think that outside of the realm of unsold
overpriced BuyItNow stuff, the prices for used industrial related
things that actually sell, are tanking dramatically.
Here's one example.
I sold a 8 inch diameter steam pressure gauge this summer for $240 or
so. (to someone who operates a real steam engine railroad, no less)
Just now, I needed one, and won a supposedly very similar condition
steam pressure gauge, made of brass, 0-200 PSI, for just $31. The
gauge was perfectly well described, all the right keywords were in the
title, etc. This was not in any way any unusually lucky purchase. It
just shows that the market that was willing to pay $240 for a steam
gauge, can only pay $31. So whatever sorts of people who were buying
steam gauges before, do not have any money left.
I am observing the same things occur in other sorts of things. A 8
inch three jaw chuck, L0 mount, great condition, $50. It is a
little scary to see the extent of it.
What muddles this is that eBay changed its fee structure, and there is
a lot of stuff listed with Buy It Now, that is overpriced and creates
an impression of high prices, but it is a false impression.
The one implication is that if you stil have a job and money, and
space in your shop, it is a great time to buy used stuff like this
right on ebay.
The other implication is that if you go to liquidation auctions
infrequently, it is a good idea to recheck the prices that you used
to base your bids on, in order to not overbid.
Agree? Disagree?
Reply to
Ignoramus13011
Loading thread data ...
---------- Cash is king... try to hang onto it.
Unka' George [George McDuffee] ------------------------------------------- He that will not apply new remedies, must expect new evils: for Time is the greatest innovator: and if Time, of course, alter things to the worse, and wisdom and counsel shall not alter them to the better, what shall be the end?
Francis Bacon (1561-1626), English philosopher, essayist, statesman. Essays, "Of Innovations" (1597-1625).
Reply to
F. George McDuffee
Agree. From the looks of just garage sales I've been to in the last couple of months, prices are way down, and sellers are "motivated."
Steve
Reply to
SteveB
I hang onto some of it, but the time when cash is king is the time to buy, not the time to hang onto it. The time to hang on to cash is when everyone is exuberant.
The metalworking stuff is small change.
I switched all my and my wife's retirement accounts into all stocks late last year (Oct/Nov). I used to have cash in almost all of them them prior to that.
The best outcome for me, assuming my retirement is 30 years from now, is that the market would stay depressed forever. This would bring the highest total return (appreciation plus divvies). Events of last year show that there may be a good reason for "equity premium", which is that equities return a little more than bonds, over the long run, due to higher risk. Last year showed how bad is that risk.
Anyway, going back to the tanking prices, these are a very vivid illustration of deflation.
-- Due to extreme spam originating from Google Groups, and their inattention to spammers, I and many others block all articles originating from Google Groups. If you want your postings to be seen by more readers you will need to find a different means of posting on Usenet.
formatting link
Reply to
Ignoramus13011
What happened to your euros?
-- Ed Huntress
Reply to
Ed Huntress
Nothing, I still have them.
Reply to
Ignoramus13011
--------- That or the evaporation of the spodulicks.
Unka' George [George McDuffee] ------------------------------------------- He that will not apply new remedies, must expect new evils: for Time is the greatest innovator: and if Time, of course, alter things to the worse, and wisdom and counsel shall not alter them to the better, what shall be the end?
Francis Bacon (1561-1626), English philosopher, essayist, statesman. Essays, "Of Innovations" (1597-1625).
Reply to
F. George McDuffee
Some of your points may be valid, Ig, but I see this same situation every year. Extra holiday gift cash has been spent, heating bills are peaking, and yesterday was a superbowl game (major distraction to some folks), so I believe other factors are involved (generally always).
About the end of March and into April, competive bidding will pick up again, in anticipation of tax returns, lower heating bills, warmer weather activities and other factors.
I'm surprised by some of the prices sometimes, generally when a new member gets involved in the bidding, and also a number of items that normally sell from moderate to high prices, that don't even get bid on.
I'm still bewildered at the over $150 that I got for a used music CD when I started selling in 1999. The ad had poor pictures but a detailed description, but I wasn't an experienced seller.
Experienced sellers will hold onto items that know will bring exeptionally good prices until things pick up again, IMO.
I watch a wide range of lot of different types of items from tooling, machine accessories, video, audio, some avionics, hand tools, certain vintage power tools, various electronic gear/parts, etc.
This is generally a good time to buy things that are sluggish at this time of year, but it's a typical annual situation, IMO.
I'm convinced that there are completely unpredictable circumstances, such as a buyer that's missed out on numerous attempts to get something cheap, finally decides that they're done trying, and go ahead and spend 2-4 times as much as they had been hoping to get the item for.
An 8" pressure gauge is definitely an obscure item, and I wouldn't have any idea of how to consider it being an economic indicator.
Reply to
Wild_Bill
"Ignoramus13011" wrote in message >
Prices on EBay have never made any sense. I bought a Play station game for my daughter a while back. There were two sellers, offering the same game, new, unopened, very similar description. The one auction went for close to $100, but the other game, that bidding ended maybe 1/2 hour after the first, I bought for $35. You figure it out, I know I can't! Greg
Reply to
Greg O
Try to find .308 Winchester brass on the internet. The priced from 100 suppliers has doubled and is out of stock
No matter what city you are in in the USA, you cannot get Gold in your hand at $50 over spot price.
AR15 rifles are all back ordered and jacked up in price.
On line gun suppliers cannot answer the phone, they are so busy shipping.
Try squeezing you butt into a gun show at 8:00 a.m. when they used to be mostly empty. They are jammed with crowds.
What does it all mean? Enough people are frightened enough to buy up the military arms and Gold.
Reply to
clarkmagnuson
Which one was the counterfeit?
Reply to
Pete C.
It's like that in real auctions sometimes. And sometimes people hold back waiting for the cheaper prices and then get into a bidding war for the few of whatever that are left so you see the opposite effect.
A lot of what's on eBay these days is not really in limited supply so the real auction dynamic doesn't show up.
Best regards, Spehro Pefhany
Reply to
Spehro Pefhany
I think a lot of this is just hype. Gun dealers and gun investors have been touting the intent of Democrats to spool up the gun control issues, and driving prices straight up ever since last spring or so. I personally think the real estate industry does the same thing every time the interest rate begin to climb.
The only problem is, the gun folks may very well be right.
Reply to
Elliot G
Well ... a few years ago, I was collecting tri-mikes (precision three-point contact internal diameter micrometers), and there were two auctions running at the same time for the same set (three or four mics, two setting rings, the extension tubes, and the wrenches, all in a nicely-fitted wooden box). Actually -- the poorly described set was a little more complete, though I forget what was missing from the other.
One had lots of wonderful photos and detailed descriptions, the other had a much less detailed description, and only a couple of photos -- enough to tell me that it was the same, and that it was what I wanted.
The poorly described one closed a couple of hours before the one with the wonderful description, and I opted to bid on that poorly-described one as the bids were *already* significantly higher on the wonderful one. IIRC, I got the poorly-described set for about three hundred less than the wonderfully-described one, and was thankful that the later one was drawing most of the attention of those who were interested. I don't know at this point, but the wonderfully-described one had the feel of a "Reliable Tools" auction of the period.
I really would have expected more competition for the poorly-described set since there were two hours or so between them to give people a second chance at the well-described set, but apparently most were too dazzled by the description on the second set -- so I got the first set for a very reasonable price. :-)
Enjoy, DoN.
Reply to
DoN. Nichols
The gun dealers only have to point at recent and current Democrat legistlation and statements of intent by the Left.
When they themselves declare that your guns and your liberty are up for grabs....the gun dealers dont need to use Democrat Scare Tactics.
When the Communist army is spotted on the horizon, and headed your way....the prudent man stockes up,and prepares.
Fortunately...most of us who actually have a time sense that goes back before last Shrove Tuesday...have made those preps already.
Those that ignore history, are doomed.
"Not so old as to need virgins to excite him, nor old enough to have the patience to teach one."
Reply to
Gunner Asch
Two things that have always given me a feeling of security when in my pocket:
a gun and cash.
Steve
Reply to
SteveB
I built up a collection of about three dozen Vise Grip 11R, and other various clamps by simply watching "Vice Grip" auctions.
Steve
Reply to
SteveB
Some things sell for a lot less than identical things that are better described or pictured. You told us a good story, I bought a well working TIG welder for $10, etc.
But that is not what I wanted to point out.
The point that I was making, was that the steam gauge that sold for $31 was NOT poorly described, it was well photographed and properly titled and so on. And still it sold for 8 TIMES less than a very similar gauge, sold by me last summer. So I was comparing apples to apples.
Here they are:
My gauge from last summer closed for $240:
formatting link
The gauge that I bought this month for $31:
formatting link
When I was selling my gauge last summer, I did quite a bit of research. There is (was) a market for these gauges, mostly among collectors or well off people who want to have a gauge like that on the wall of their shop showing air pressure, etc. Some retired people buy these gauges in poor condition, polish and resell, etc. It was a real market.
These gauges are not unusual or rare items, but they were well sought after. Apparently, not any more. The market for them disappeared.
Reply to
Ignoramus32631
Good rant, Gunner, but it's not the Commie army I'm worried about so much as out own...
Reply to
cavelamb
The red army will be looking for every Form 4473 they can get thier hands on. Thier first stop will be the local gun shops before they advance on citizens to confiscate thier guns. First hand experience 20 years ago when chicago cops were trying to intemidate suburban gun stores to give them copies of of thier Form 4473 in an effort to track down chicago residents that had purchased pistols. Of course we asked them for the court order and they left enpty handed rather unhappy uttering threats as they left. It is very possible that under the current administration the BATF will be making available Form 4473 to cities that practice gun control if asked by a city that has strict gun control laws.
Hope you make a full recovery gunner.
Best Regards Tom.
Reply to
AZOTIC

PolyTech Forum website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.