eBay is really a study of basic economics (and to learn about this phenomenon check out this Auction Inspector review). I mean, eBay really is how market value is defined these days – not by arbitrary books or magazines or appraisers. For consumer goods, it’s eBay. And there are two basic truths about eBay – if there is no demand for your product you will not make anymoney. If there is too much supply of your product, you will not make any money. It’s supply and demand. In some cases there is a ton of supply like there was with the Nintendo Wii last Christmas but there was even more demand for the product – you could never find one on the shelves – people stood in line waiting to get one and they always sold for above retail on the open market.
Business29 Jul 2008 02:12 pm