(Topic ID: 290212)

Price gouging

By Crumbalimb

3 years ago


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    #127 3 years ago

    I agree the term price gouging is not intended to be applied to non-essential items being sold to an audience that is not captive. Regardless, I will use the term here since it seems to be the only term that is resignating.

    I paid $1700 for a TAF in 2002.
    I sold it for $3000 in 2006.
    If I hadn't sold it and was selling it now I would be asking around $8000 for it. Was $3000 price gouging in 2006? Would $8000 be price gouging now?

    I would call either sale price *fair market value* for its time, which is simply a nicer way of saying *what the market would/will bare*.

    If new toppers stop selling for $1000 the price will come down or perhaps toppers will stop being offered by OEM's. If they sell out when priced at $1000 they will generally sell for even more in the aftermarket. Dealers left with a couple in stock will raise their price to meet this increased market value (see PBL's *outrageously* priced NIB KISS topper selling for $900 a couple years ago).
    Further, if the previous machine's topper sold out at $1000, you can expect the next machine's topper to sell for $1250 from the git-go.

    It's all stuff no one needs, so expect the price of toppers and machines to fluctuate between $0.00 and the-sky-is-the-limit.

    No new news here, but still fun to discuss every now and then.

    #158 3 years ago
    Quoted from RockfordReplay:

    We find the Black Knight Topper NIB Listing for $2000.00 Firm has been marked as 'Sold' today. I've learned this transaction should not be perceived as Price Gouging. The proper term is Fair Market Value.

    Or "what the market will bare", the more direct and less nice way of putting it. Still; same same.

    #161 3 years ago
    Quoted from bob_e:

    how about asking $20,000 - $30,000 over sticker for a 2021 Corvette?

    Quoted from someone else "Price gouging refers to anything of necessity during times of need. TP during the start of the pandemic for example.....".
    Nothing pinball related (or collector car related) is ever of necessity and therefore cannot be price gouged.
    Is the Corvette over priced? You are lucky to be in a position to make that judgement. Price gauging does not apply, no matter how much you disagree with the asking price of said Corvette.

    #162 3 years ago

    ...and yes, in the good ol' US of A we do consider toilet paper as essential; right or wrong and/or for better or worse.
    We proved it with the stupid/unnecessary run on TP a year ago.

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