Lies,damned lies, and EBAY

Most, if not all, of my usable straights come from antique shops. I get to examine every physical aspect of the razor, which is something that's not possible on ebay. Recently, I was discussing razors with a gentleman at an antique store. I was interested in a particular razor with no price on it. The man took it over to his wife (I'm assuming). I asked her how much, and she said she didn't know yet. She then went to the computer and tried to match it with a current ebay razor. Of course, I know that a mother of pearl Wonderedge DD is not quite the same as a celluloid Satinedge DD, but apparently the woman was only concerned with Dubl Duck and blind to individual differences. You know, a mallard and merganser are both ducks kind of a thing. Doesn't matter that one eats well and tastes good and the other eats fish and doesn't taste so well. This was my first experience with ebay pricing, but it has since happened again. That woman (How did women become straight razor experts?!) told me if I didn't want to pay the price she would put it up for auction because she didn't realize how much razors were going for these days. I now feel like straight razors are on the same level as gold and silver. Driving the price up with the fickel fate of a buyers whim. Oh, well, just late night venting. No big deal.

I think you are right but some people are going to buy at what ever the price goes to. and its usually just 2 or 3 guys battleing it out and running up thr price. but what are you going to do.

You really have to ask yourself, what kind of antique dealer that has to go to ebay to appraise items.

I am pissed of for you mate, thats just wrong on so many levels.

Frankly, if I'm going to pay eBay prices anyway, I'd much rather have the razor in my hand to look at and feel before laying down the cash.

It's hard to argue with "I'd make more on eBay" if its true!!

Every once in a while, when I am on eBay, I flash back to Economics 101 from college, and have to ponder the concept of the Perfect Market -- which in the Econ 101 books did not exist -- which dates my college years to pre eBay, even pre internet, pre cell phone.... Damn I'm old... so old I forget my point.

Anyway, Ebay is real close to a "Perfect Market" and for those with Economic backgrounds, it is hard to argue prices set by such a nearly Perfect Market.



Perfect Market

The following assumptions hold:
(a) there is a large number of buyers;
(b) there is a large number of sellers;
(c) the quantity of goods bought by any individual transactor is so small relative to the total quatity traded that individual trades leave the market unaffected;
(d) the units of goods sold by different sellers are the same - the product is homogeneous;
(e) there is perfect information = all buyers and sellers have complete information on the prices being asked and offered in other parts of the market; and
(f) there is perfect freedom of entry to and exit from the market.



Class Dismissed -- let's go to a kegger, and hit on sorrity girls!

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Originally Posted by ccddo

Class Dismissed -- let's go to a kegger, and hit on sorrity girls!

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Looks like someone hit the keg already ;) (Assuming thats what a kegger is)

You assumed correct good sir!

Nothin' better than kegs-'n'-eggs to get the day started!

Slightly OT (but not much)...every antique store owner I've ever dealt with has had the people skills of a pet rock. What IS it with those clowns? Right now, I rent a glass case in an antique store and it's gotten to where I avoid the owner because every single conversation I've ever had with him has gone into Argumentativeness Land.

Well, I'd disagree with (c) (e.g. antique Eschers, Pumas, DDs, W&B meat choppers...) and (e) (most of the complaints about ebay relate to information assymetry IMHO). Then there's the whole macho "bidding war" thing...

Anyway, as a statistician I take great offense at the title of this thread. To actually equate by implication ebay and statistics is a slur on my profession! (Just joking, I'm not offended at all :D - but it *is* a slur on my profession :p).

James.

True James. But what did you want these numbers to say, exactly? That way I'll know how to manipulate the trends to give you what you want.:w

Perhaps you should tell the woman at the antique store that you appreciate her research and that you will happily do your business directly with eBay in the future.:hmmm:

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Originally Posted by Jimbo

Well, I'd disagree with (c) (e.g. antique Eschers, Pumas, DDs, W&B meat choppers...) and (e) (most of the complaints about ebay relate to information assymetry IMHO). Then there's the whole macho "bidding war" thing...

Anyway, as a statistician I take great offense at the title of this thread. To actually equate by implication ebay and statistics is a slur on my profession! (Just joking, I'm not offended at all :D - but it *is* a slur on my profession :p).

James.

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Yep, pretty much.
The statistics thing... well, it only hurts because it's true!!:D The same is true of appraisals. My dad was an auctioneer in the days before the internet and E-Bay. Appraisals are like statistics in as much as it all depends on what the desired outcome is.
My Grandmother wanted an appraisal on an antique clock one time... asked my dad about it. He said, "do you want a high appraisal or low one?"... She didn't comprehend the question - "isn't the value the value?". Nope, obviously not. I'ts completely 100% subjective. Anyway, what he ended up telling her was that if she was looking to sell it, or insure it and wanted a high appraisal to go to guy "A". If she saw one that was similar and was looking to buy it to match a set and wanted the low appraisal, go to guy "B".
Kinda funny how the market works like that! LOL

(not all that different than KBB and Edmunds and Auto-Trader)

If you don't like the price , then don't pay it . Screw'em , let them go through the hassle of selling it on ebay . Maybe you can convince them that it would be easier for them to sell YOU the razor for less money , than for them to go to the trouble of selling it on ebay .

I apologize in advance... Grammar nazi warning. I normally wouldn't do this, but... I just can't stop myself (mostly because it changes the entire meaning of the sentence).
It should be "Than". Easier than going through the hassle...

Unless, of course, you meant that he should convince them to sell it to him, and once he's purchased it he would go through the trouble of selling it on e-bay.

Again, I'm REALLY sorry! :(

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Originally Posted by dave5225

If you don't like the price , then don't pay it . Screw'em , let them go through the hassle of selling it on ebay . Maybe you can convince them that it would be easier for them to sell YOU the razor for less money , then go to the trouble of selling it on ebay .

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No need to apologize :) . You're right , it did change the meaning of the sentence , and I've corrected it .

Thanks all! I feel a little better now. Jimbo, my stats instructor in college attributed that line, "There are lies. There are damn lies. And then there are statistics.", to Mark Twain. True?

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Originally Posted by yul b. nekst

Thanks all! I feel a little better now. Jimbo, my stats instructor in college attributed that line, "There are lies. There are damn lies. And then there are statistics.", to Mark Twain. True?

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That's where I've always heard it credited.

Yeah, that's who I've heard it attributed to as well, although I think the correct attribution should go to Benjamin Disraeli, British Prime Minister (and wit) in the late 19th century. I think I read somewhere that Twain acknowledged the attribution, but could be wrong on that.

I hope your statistics instructor was using that quote to demonstrate the general ignorance in even the most urbane of the general public regarding the methods and techniques of statistics - in my experience it's the data that "lies", not the analytical techniques used.

Here endeth the lesson! :w

James.