Comments | bstro: This May Be Why the Economy Is In the Toilet

bstro

This May Be Why the Economy Is In the Toilet

Mar 16, 2009 12:43

Was researching gift card sales on eBay and found this completed auction for a $100 Visa gift cardYes, not only did the buyer bid $105 on a $100 gift card, but this person was the fourth one to bid $100 or more ( Read more... )

Comments 2

ultramang March 16 2009, 21:48:37 UTC

To complete the analogy, the overpaying bidders will actually not actually be paying.

bstro March 20 2009, 03:18:45 UTC

Understand, I'm not very bright; so you'll have to be more specific. ;)

On the one hand, the overpaying bidders might be accomplices (or alter egos) of the seller and are only there to drive the price up. But if that's the case, why keep bidding up to and over $100? I see no reason a legitimate bidder would bother competing that long.

On the other hand, they could be legitimate bidders who are going to try to get out of paying somehow. But how? I'm not really up on the methods of getting something for nothing on eBay. I do know that sellers don't have to send anything out until payment has cleared, so... ?