What am I missing here? Or are people just stupid?

http://tinyurl.com/6yqqg7

I walked into this very store the other day and bought the same ounce of
gold for AU$990. Now this exact same product is selling for $100 above this
price. What am I missing? If there were enough people willing to pay this
price on ebay for gold, I could make a killing. I'd start listing my gold
but the trouble is I'd just have to go get more for myself and I live over 5
hours away.

Andrew

Andy wrote:
http://tinyurl.com/6yqqg7

I walked into this very store the other day and bought the same ounce
of gold for AU$990. Now this exact same product is selling for $100
above this price. What am I missing? If there were enough people
willing to pay this price on ebay for gold, I could make a killing. I'd
start listing my gold but the trouble is I'd just have to go get
more for myself and I live over 5 hours away.

Andrew

My quick guess - he indicated on the "Sell Your Item" form that he accepts
PayPal. People are willing to pay more if PayPal is allowed since they can
use a credit card to pay for it. As a seller this will not help you since
the PayPal fees are outrageous and will easily offset the difference in
price.

--
"Line up alphabetically by height" - Bill Peterson, Florida State Head
Football Coach

In article , Andy
wrote:

http://tinyurl.com/6yqqg7

I walked into this very store the other day and bought the same ounce of
gold for AU$990. Now this exact same product is selling for $100 above this
price. What am I missing? If there were enough people willing to pay this
price on ebay for gold, I could make a killing. I'd start listing my gold
but the trouble is I'd just have to go get more for myself and I live over 5
hours away.

Andrew

Consider it part of the passion of the auction. Two or more people get
the same bee in their bonnets that they HAVE to have this one item, &
they start pushing the bids up higher. There's some name for this;
something like "escalating commitment". What happens is that people
get more focused on the increment to the next bid more than the total
price. That is, they put in a semi-reasonable bid on something (say,
AU$1,000) & then someone else puts in a bid for $1,050; this gets them
to thinking that "gee for just another $100 I can still get this thing
I desperately want", & they start kicking it up.

This is very common not only on eBay, but at live auctions. The best
way to bid in these auctions is to just put in your maximum bid, &
never look at the piece again, even if you get an E-mail saying that
someone just out bid you. If you fail to get it, well, better luck
next time.