Posted by Rick Denney on February 22, 2002 at 11:08:42:
In Reply to: Re: Re: Re: Purchasing my kid a tuba posted by It's Because the buyer usually gets screwed on horns on February 22, 2002 at 10:39:13:
Auctions always find the stupidest person in the room. That's what they are supposed to do. If you buy something at an auction, you have to be sure that everyone else is so smart that being the stupidest person in the room is still smart. The bigger the room, the harder that is. Ebay is a very big room. Note that stupidity isn't just measured by too many dollars. Sometimes nobody in the room is smart enough to buy something that is worthwhile. For example, a tuba that is a good value at $3000 is a good deal at $2700 and a steal at $1500. Sometimes the stupidity will go one way, and the horn will sell for $3500, and other times, a starting bid of $2700 will attract no offers. It just depends on who's in the room at the time.
That caveat emptor stuff is hard on emptors who expect everyone to treat them perfectly. That expectation is probably closer to the instant-gratification ethic than the ability to bid on auction online. What the auctions have done is bring a lot of old, junker horns to a market where people who are interested in old, junker horns can purchase them. The really expensive tubas are a risk that only the boldest are willing to take, and those not so bold (I'm among them) should back away. But that doesn't mean I hold anything against those who are bolder.
Here's fundamental truth about free markets: A seller has no right to resent inaction on the part of buyers, unless their inaction separates their promise to pay and their actual payment.
Rick "who, on average, has done pretty well on ebay" Denney