Why do some people not understand economics, supply/demand?

[Greg G.]

When something is in high demand, you can raise the price at least some, provided there's not much competition.  But when something isn't selling and gathering dust, the idea is to LOWER the price to get it to sell. 

I saw this ad on CL a while back, but passed because I needed another black 60s desk phone like a hole in the head.  But then I got to thinking "What the hey, it was only $15, may as well take a closer look."  If it was in good shape and not rusted, maybe. 

Lo and behold, they relisted the ad but raised the price.  Here's the response from my initial inquiry:

it's hard wired, and the date is a 1961.

--- On Sun, 2/14/10, Greg G. wrote:


From: Greg G.
Subject: VINTAGE ROTARY DESK PHONE - $15 (ALLYN)
To: sale-2srdg-1599752004@craigslist.org
Date: Sunday, February 14, 2010, 10:43 PM

** CRAIGSLIST ADVISORY --- AVOID SCAMS BY DEALING LOCALLY
** Avoid: wiring money, cross-border deals, work-at-home
** Beware: cashier checks, money orders, escrow, shipping
** More Info: http://www.craigslist.org/about/scams.html


Is it modular or hardwired?  Can you tell me the manufacture date?  It's usually on the bottom.

Now here's the relisted ad: 
http://seattle.craigslist.org/kit/for/1611757041.html ( dead link 04-19-21 )

seattle craigslist > kitsap co > for sale / wanted > general for sale

VINTAGE ROTARY DESK PHONE - $20 (ALLYN)

--------------------------------------------------------------------------------
Date: 2010-02-21, 6:35PM PST
Reply to: sale-wavuz-1611757041@craigslist.org
--------------------------------------------------------------------------------


This is a working rotary desk phone. I'm asking $20 for it you can reach me at (360)277-4107



Location: ALLYN
it's NOT ok to contact this poster with services or other commercial interests
 
PostingID: 1611757041

Update:  I just now looked up Allyn, just assumed it was a neighborhood in Seattle.  I should have took a hint from the Kitsap County location, it's out in the boondocks anyway. 

[dsk]

It is not always logic's who controls the market. I know people who are more interested in the discount, rather than what they pay. 
If it is lo-cost, its probably not so good as if its not....

Or as several historical persons has stated Something like): When a lie is repeated enough times, it becomes truth. 

dsk

[jeremylivin]

I've seen people buy things that were expensive just so they could say "I spent $$$ for this!"


There was an Iphone application a while back that cost $999 and all it did was show a Gem on the screen.  It was called the "I am Rich" app.

Freaking ridiculous!

[Jim Stettler]

The more you pay, the more it's worth.
Jim

[Craig T]

Yep, I think he is just padding the price and putting "asking" so that someone feels big about bartering over it like they got a deal on it. In reality, I think he just hopes to get the original $15. If it has been a couple weeks on that Briny, offer him $10.

[Greg G.]

Yep, I think he is just padding the price and putting "asking" so that someone feels big about bartering over it like they got a deal on it. In reality, I think he just hopes to get the original $15. If it has been a couple weeks on that Briny, offer him $10.

I was thinking of doing that when they had the original $15, provided it was intact and not rusted, but it's over 90 minutes one way to where the phone is.  Or I could save some time and spend $30 round trip on the ferry plus gas for a $10 phone.