Buying an item, then reselling for a higher price - wrong or thats life?

B.A._Baracus

I'm sure alot of people have heard that Microsoft released it's newest gaming console on Friday named the Xbox One. But there has been alot of 'discussion' about how people on adverts, gumtree, ebay etc are buying & reselling these consoles for a higher price tag. As the demand out-weighs supply.

The price of the console varies depending on what package you get. But most are between €500 to €600 (give or take) and people are reselling from €750 to €1000.

Whats your opinion boards? ... Wrong or fair/that's life? ... Poll is included.


For me personally, I think thats life. If someone sees a chance to make a few hundred... well... being that time of the year its a buyers choice to pay that much. I think charging double for the console is quite cheeky but if a seller can get that... hey, that's life.

kneemos

Welcome to the free world.

Pushtrak

I find it in bad taste, but people pay the extra, so there are people going to sell to them.

B.A._Baracus

kneemos wrote: »

Welcome to the free world.

True.
I made this thread because alot of people have been voicing their opinions. Sure in the adverts.ie forum on here someone called on adverts mods to "ban the sale of xbox one consoles that have a higher price tag"

It doesnt bother me if someone is selling them with hopes of making profit But it seems to bothering a bunch of people.

hfallada

Its basic economics, demand vs supply. If people dont want to buy the xbox at €750 in the gray market, they can wait to buy it from Tesco at €500. But some people will happily pay €1000 for it. The market sets the price and the seller follows. Its the buyers demand thats causing the high price

KyussBishop

So long as people aren't being misinformed or treated unethically in any way, then there's not really anything wrong with it.

nelly17

If people have the money and are willing to spend it thats their business

131spanner

Once there's no swindling or underhand bullshít, it's just another day another dollar.

Jester252

People can spend their money whatever way they see fit and if someone can make them buy an item at a higher price fair play to them.

P_1

Shops do it all the time, can't see why regular folk can't too

fergiesfolly

Isn't it odd that Microsoft will be pissed on from a height when it comes to their software, by tech geeks, but they release a gaming console and the same geeks will pay through the hole for it.

Grayditch

I think its ****ty when you hear of people buying up something that is selling out, just to sell it at a higher price. Tickets, consoles, Furbys, whatever.

You're putting people out and making money from it. I hope their hands fall off and an old rusty fork grows on the left and a piece of half melted Lego Technic on the right and they spend the rest of their life trying to figure out what it means.

B.A._Baracus

P_1 wrote: »

Shops do it all the time, can't see why regular folk can't too

Agree. 100%.

fergiesfolly wrote: »

Isn't it odd that Microsoft will be pissed on from a height when it comes to their software, by tech geeks, but they release a gaming console and the same geeks will pay through the hole for it.

Such assholes to be honest.
It's like a hipster moaning about how a bands new album is crap after he downloaded it for free. But don't you know, the same person pays to see their gig later on.

All crap :P

BetterThanThou

No problem with that at all, if people are so impatient that they can't wait a while for the stock to stabilize so they can get their Xbox One, they deserve to pay double price, and a quick profit is a quick profit, I've often bought stuff when I found them cheap or expected them to rise and sold them for a profit, just a few weeks ago I turned a €30 investment into €150 without even trying. I'm actually regretting not buying an Xbox One and selling it at double price now.

Patrickheg

Don't see a problem with examples like a gaming console as stocks will come back online eventually so the true fans can still get it at the rrp without being ripped off.

As for limited items like concert tickets / matches, that really annoys me. Di(heads taking advantage of real fans, I have some friends who have no shame making a few hundred quid at this. Whereas if I manage to be at the right place at the right time and source a much sought after music / GAA / rugby ticket but can't subsequently make it I'll seek out a genuine fan and sell it for the price I paid for it

I'm pretty good at making profit when I sell my own stuff.. Like a motorbike or tv. Only a fool passes on the bargain they got.

martinedwards

BASIC ECONOMICS!

everything you have ever bought from a shop or a bar or market stall, someone has bought that item for X and sold it for X + profit.

no problem. you are charging for your time in standing in the queue

Amirani

fergiesfolly wrote: »

Isn't it odd that Microsoft will be pissed on from a height when it comes to their software, by tech geeks, but they release a gaming console and the same geeks will pay through the hole for it.

Proper tech geeks game on PC.

PizzamanIRL

What's life?
A magazine.
How much is the magazine?
€1.25.
I don't have €1.25.
That's life.

diomed

Not interested in the product, but happy to know I'm saving €1,000.

Grayditch

martinedwards wrote: »

BASIC ECONOMICS!

everything you have ever bought from a shop or a bar or market stall, someone has bought that item for X and sold it for X + profit.

no problem. you are charging for your time in standing in the queue

I know that reply seems mad clever and all, but it pretty much ignored what the OP means, and the situation that inspired the thread. It's about touting, or profiteering on limited stock items at Christmas.

UCDVet

Grayditch wrote: »

I know that reply seems mad clever and all, but it pretty much ignored what the OP means, and the situation that inspired the thread. It's about touting, or profiteering on limited stock items at Christmas.

He might mean to imply that profiteering doesn't exist. The price people will pay is always the natural response to supply and demand. Christmas causes a spike in demand that can cause a sharp increase in price, but at what point does it become profiteering?

Some people will say it isn't 'fair', but it really depends on who you talk to. I've seen people line up outside of stores before they open to try and get a hot item, and they might say it's unfair for someone else to resell the items....but they're people who have the free time to line up outside a store for hours to make sure they get it. Someone else might be busy running a successful business and while he can't spend a ridiculous amount of time waiting in line, he's happy to spend 3x the sticker price.

Grayditch

I don't mind so much people that buy one and resell it higher. I don't like it, but its not as a bad as people that buy a few of something just to sell them back to the people who didn't get one.

Rubberchikken

While there are people who are willing to pay more just to have the device for themselves or for kids Christmas present, then there will be people out there who will 'exploit' this.

samina

I think it's in bad taste, especially since kids are after them for Christmas.

imitation

If there wasn't a market out there for it they would be selling the consoles at a 50 eur loss at least, so the people willing to pay up are partially to blame. Its all well and good when its only a small proportion of consoles, but if for example every 1 in 3 launch console was brought by a gazomper then it becomes a problem.

Guy:Incognito

B.A._Baracus wrote: »

True.
I made this thread because alot of people have been voicing their opinions. Sure in the adverts.ie forum on here someone called on adverts mods to "ban the sale of xbox one consoles that have a higher price tag"

It doesnt bother me if someone is selling them with hopes of making profit But it seems to bothering a bunch of people.

Adverts doesnt allow profiteering, its against the rules which is why people call for items to be removed.

samina

samina wrote: »

I think it's in bad taste, especially since kids are after them for Christmas.

'' will somebody think of the children...''

camel jockey

NiallSparky wrote: »

Proper tech geeks game on PC.

Running Windows...:cool:

camel jockey

samina wrote: »

I think it's in bad taste, especially since kids are after them for Christmas.

Maybe their parents should have gotten the finger out and done something about it before Christmas Eve.

UCDVet

Guy:Incognito wrote: »

Adverts doesnt allow profiteering, its against the rules which is why people call for items to be removed.

http://www.adverts.ie/blog/change-to-our-profiteering-rule/

...
1. If the reported RRP claim is found to be incorrect, the reporting user will be notified, and your listing will not be affected.
2. If the RRP claim is upheld, an adverts moderator will post a comment on your thread linking to the RRP.
We will not however remove the listing and we leave it up to the buyer to decide on whether to make an offer or not.

That sounds like they allow it (unless it's a ticket sale). It's a few years old though, but I couldn't find anything more recent.

RustyNut

Grayditch wrote: »

I know that reply seems mad clever and all, but it pretty much ignored what the OP means, and the situation that inspired the thread. It's about touting, or profiteering on limited stock items at Christmas.

That is commoditys trading. As oil gets scarce the price goes up. X-boxes the same. Do you think the shop sold it for what they payed for it? It's the free market system we have, if you don't think you are getting value don't buy it.

Grayditch

RustyNut wrote: »

That is commoditys trading. As oil gets scarce the price goes up. X-boxes the same. Do you think the shop sold it for what they payed for it? It's the free market system we have, if you don't think you are getting value don't buy it.

I must be missing the point of the thread, so. I didn't think it was about shops selling products for above wholesale to make a profit and runs a business, I thought it was about what people though of Joe soaps buying up something people wanted at Xmas so they could raise the price above the RRP of shops.

Playboy

Opportunistic dcks imo. Fair enough if someone is buying the consoles in this market for sale in another market where they are not available... In that case they are providing a service which they deserve to get paid for. Buying in a market due to lack of supply with the sole intention of selling back into that market makes them no better than ticket touts... Leaches trying to make a quick buck by disadvantaging people without the good sense to wait a few weeks.

sentient_6

Buy for a dollar, sell for two.

- Prop Joe

Lando Griffin

camel jockey wrote: »

Maybe Santa & the elves should have gotten the finger out and done something about it before Christmas Eve.

FYP for the younger viewers.

Gummy Panda

Nothing new. Sure therewas guys selling the humble bundle separately on adverts. For people who don't know the humble bundle is a selection of games sold as a pay what you want charity donation.

RustyNut

Grayditch wrote: »

I must be missing the point of the thread, so. I didn't think it was about shops selling products for above wholesale to make a profit and runs a business, I thought it was about what people though of Joe soaps buying up something people wanted at Xmas so they could raise the price above the RRP of shops.

It's not baby milk you don't have to buy one. Consumers have a choice if you think whoever is selling an item is ripping you off then don't buy it from them. The lad that buys a few items to resell is taking a risk of being left with them or having to sell them at a loss. The buyer has the cash and so have control, they can allways take their money elsewhere.

srsly78

fergiesfolly wrote: »

Isn't it odd that Microsoft will be pissed on from a height when it comes to their software, by tech geeks, but they release a gaming console and the same geeks will pay through the hole for it.

The PC master race has no interest in this console nonsense.

Grayditch

RustyNut wrote: »

It's not baby milk you don't have to buy one. Consumers have a choice if you think whoever is selling an item is ripping you off then don't buy it from them. The lad that buys a few items to resell is taking a risk of being left with them or having to sell them at a loss. The buyer has the cash and so have control, they can allways take their money elsewhere.

Why do you keep telling people the don't have to buy one? We know. The thread is asking if we think touting is bad form. So that's why people are giving their opinion on it being a dick move, I'm just confused why "well shops do it" comes into it. It's totally different.

krudler

Depends really, selling something on to make a few quid is one thing, stuff like ticket scalping and adding on hundreds of quid to the face value is pretty crappy.

RustyNut

Grayditch wrote: »

Why do you keep telling people the don't have to buy one? We know. The thread is asking if we think touting is bad form. So that's why people are giving their opinion on it being a dick move, I'm just confused why "well shops do it" comes into it. It's totally different.

What's the differance between tescos buying something for X and selling it to me for X+ profit and Me buying something for X and selling it to you for X+ profit regardless of what the product is ?

Gatling

Reminds me of sky news yesterday the Beckham's selling a ton of stuff through a London red Cross shop to raise money for victims of the typhoon that hit the philippines
A suit wore by victoria sold for £400 in the shop tuned up on eBay 30 mins later with a £4000 + price tag ,

Frankly I'm not bothering with either new console for at least another 18 months or until decent packages or a price drop ,neither system isn't exact revolutionary in terms of technology the games are the same FIFA ,forza ,battlefield and so on

Grayditch

RustyNut wrote: »

What's the differance between tescos buying something for X and selling it to me for X+ profit and Me buying something for X and selling it to you for X+ profit regardless of what the product is ?

You want me to explain the difference between touting ... and regulated shops selling a product for an RRP set by the product maker, supplied by the product maker? Nah, I'm probably not going to go type all that out. Touts are what they are and I've explained why I think they're dicks.

RustyNut

Grayditch wrote: »

You want me to explain the difference between touting ... and regulated shops selling a product for an RRP set by the product maker, supplied by the product maker? Nah, I'm probably not going to go type all that out. Touts are what they are and I've explained why I think they're dicks.

Ok

brokenarms

Grayditch wrote: »

You want me to explain the difference between touting ... and regulated shops selling a product for an RRP set by the product maker, supplied by the product maker? Nah, I'm probably not going to go type all that out. Touts are what they are and I've explained why I think they're dicks.

Communist propaganda

Dont listen to this man!!:D

RustyNut

brokenarms wrote: »

Communist propaganda

Dont listen to this man!!:D

Yay X- boxes for all.

Grayditch

Minature American flags for others.

Lyrical

I don't think I have a problem with the example in the OP the parents know how much the console costs and know how much of a profit is added to it,which some will probably pay to have a console for the kids on Xmas day.

Using gaming again as an example I think in this circumstance reselling an item for a higher price is wrong, for those that don't know there is a site that sells videogame bundles at a much lower price than their actual retail price "the humble bundle" with the majority of the profits going to charity.

You see guys buying the bundle for €1 and selling the games at retail value on Adverts for example,while the charity sale is still going on luckily there''s boardsies that comment on the ads to direct people to the charity site but it's quite a sleazy way to try and make money imo.

Yellow121

Christmas spirit? Capitalist pigs.

Agricola

Wouldnt mind someone buying one to flip it straight away for a quick profit. But I don't like the idea of buying a dozen of them, reducing the units available for ordinary people to buy and then reselling them for a substantial profit.