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Author Topic: Wiltsbury Junction - Inspired by Westbury  (Read 19436 times)

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Offline Leon

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Re: Wiltsbury Junction - Inspired by Westbury
« Reply #930 on: March 13, 2019, 04:38:02 PM »
I'm sorry if my opinion is disliked, but I have the right to express it. What hasn't been said about "value" is that auction prices are determined by the competitive nature of the sale. It takes just two people to establish "value" - due to nothing more than their determination to not lose! The truth is that many winners have buyers remorse. That doesn't mean they "value" less what they bought, but the realization that they let their emotion rule their brain with the result they paid more than they should have. I doubt there is anyone in this Forum who has had more experience buying and selling at auction than have I - from eBay to Sotheby's, and I admit having made many mistakes. I've observed, also, many devious practices which make it a very unreliable marketplace.

Mick, you're right that my opinion of what someone has paid is irrelevant to everyone but me. I think this subject arose in reaction to the escalation of prices in the model marketplace. I simply offered one explanation. Maybe I'm wrong.  I rest my case with an apology for spending so much time on my soapbox!  :)

Leon
« Last Edit: March 13, 2019, 06:57:24 PM by Leon, Reason: Clarification »
"I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel." - Maya Angelou

Offline Newportnobby

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Re: Wiltsbury Junction - Inspired by Westbury
« Reply #931 on: March 13, 2019, 09:17:56 PM »
No need to apologise for having an opinion, Leon, and I'm sure no one would be against you expressing it (especially as this is your thread ;))
I watched an old 'Top Gear' TV show last week and a guy named Chris Evans admitted to paying 12 million dollars for a certain Ferrari. Guess the question is "Which is the fool - the chap who sold it or the chap who paid that much for a car?" My issue with the likes of Fleabay is many people buy off the site with the idea 'It's on Ebay - it must be a bargain' and end up paying way over the price of an identical new item.

Offline njee20

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Re: Wiltsbury Junction - Inspired by Westbury
« Reply #932 on: March 13, 2019, 09:25:35 PM »
Of course youíre entitled to your opinion Leon, and to expresss it, and it raises an interesting discussion. I just bristle when I hear things like: ď I hope the point is clear: stop overpaying on eBayĒ. Which isnít an opinion, thatís a definite instruction.

You seem to correlate people paying high prices and Ďbidding feverí, whilst Iím sure there are plenty of instances of that, Iím sure many people are very happy with their purchases, at prices way beyond those youíd consider. Most people bid in the dying seconds after all.

Offline Innovationgame

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Re: Wiltsbury Junction - Inspired by Westbury
« Reply #933 on: March 14, 2019, 06:39:49 AM »
I hope this finishes the hijack.  Remember the so-called bidding frenzy is actually because people set their maximum figure and use the auto rebid facility, so the auto bids keep rattling up until only one is left in the auction.  I once had that happen to something I was selling about a week before the end of the auction.  Obvously the buyer had decided that he was prepared to pay more than anyone else.
With kind regards
Laurence
My personal website is a bit of a mish mash: www.innovationgame.com
Coventry Corporation Transport Society: www.cct-society.org.uk
Hessle: www.hessle.org.uk

Offline Leon

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Re: Wiltsbury Junction - Inspired by Westbury
« Reply #934 on: March 16, 2019, 02:05:44 AM »
I hope this finishes the hijack.

Laurence, I never consider my thread hijacked. I welcome all Forum members and all comments just as I am not loath to deviate from the thread topic, myself. Most topics DO relate in some way. When I talk about baseball I do go to another thread, however.  :)

In reponse to your eBay comment, when a person's initial bid is the highest they intend to bid we have an auction as close to the physical auction room as is possible. Leaving bidding to the last minute creates an artificial auction. In a real auction, a bidder always has time to raise the bid. In my experience (probably 2,000+ eBay auctions), very few initial bids are the most a bidder is prepared to bid. When the bidders top bid is his first bid it acts in the same way as a reserve placed on the lot by the seller. In eBay, unfortunately, the seller is often that top bidder - in my opinion. That's part of my concern about the wilingness of people to bid more than the value the market (collectively) have placed on the item. Now I agree with njee20, if a person wants to pay any price to be the winner, and considers he has acquired something at a fair price, who am I to stand in judgement? I wonder, though. if the bidder realizes he may have been bidding against the seller? My concern is that bidders are unknowingly creating a false market affecting all of us. Not something that I can change - just something I can talk about.

There is one dealer with numerous items for sell on eBay at any given time. The prices are outlandish (and probably few of them sell), but he's more honest than the dealer who uses a second (or third or fourth, etc.) eBay account to bid on his own goods.

I'm with my brother in Texas, and can do little in the way of constructive discussion about my layout. I could just shut up, though! I said it, so you don't have to.  :D

Leon
« Last Edit: March 16, 2019, 08:56:11 PM by Leon, Reason: Clarification »
"I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel." - Maya Angelou

Offline njee20

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Re: Wiltsbury Junction - Inspired by Westbury
« Reply #935 on: March 16, 2019, 12:27:10 PM »
I donít doubt that shill bidding occurs, although I donít think itís as prolific as it was, eBay are pretty hot on it.

Speaking as a seller far more than a buyer Iíve never artificially inflated any auction, and am consistently surprised by how much people pay for things. Not just railway stuff either, people will often pay a lot of money for what is seemingly worthless!

Offline Leon

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Re: Wiltsbury Junction - Inspired by Westbury
« Reply #936 on: March 16, 2019, 09:09:52 PM »
Iíve never artificially inflated any auction....

Njee20, like you I'm an honest seller. Careful buyers can tell the difference! I agree that bidders are frequently uninformed and bid impulsively. My daughter sells on eBay items she acquires from charity shops, yard sales, boot sales, etc. She studies the market and through careful buying is able to mark up items to provide a reasonable profit. Sometimes, though, the profit is absurdly high. She doesn't send the money back, of course!  :) Let the buyer beware is my message to all who bid in auctions. And, if buyers control their buying habits the prices of previously owned model railway products will help to stabilize prices for new merchandise. That's my message.

Leon
"I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel." - Maya Angelou

Offline njee20

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Re: Wiltsbury Junction - Inspired by Westbury
« Reply #937 on: March 17, 2019, 09:28:38 AM »
I think thatís backward - the price of new stock helps to dictate the second hand values, combined with availability. Thatís just basic economics - supply and demand. A sudden drop in second hand prices wonít affect new prices IMO.

At a macro level both new and used items will continue to go up in prices, thatís an unescapable reality.

Anyway, we clearly disagree on what influences the market, I donít think itís a handful of over zealous eBay buyers, so Iíll stop posting on the matter. I do wish youíd stop telling people theyíre paying too much for things though.

Offline Leon

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Re: Wiltsbury Junction - Inspired by Westbury
« Reply #938 on: Yesterday at 08:51:32 PM »
I think thatís backward - the price of new stock helps to dictate the second hand values, combined with availability.

I've been wrong more than once!   :D
"I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel." - Maya Angelou

 

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