Monopolists should just disappear

I wanted to buy an IC for my graduation project. At the manufacturer's site, the IC costs 2$. i went to several stores and asked about and no store has it except for one. i said cool now i can continue my project. I asked the girl How much do you want for it? she said 12$. I told her that Microchip produce it for 2$, how the hell do you want 12$ for it? she said its a rare IC here. so i told her " you are charging me 12$ instead of 2$ just because its rare?" she laughed andi gave her the 12$ and went home broken again. Tell us a story where you got ripped off for nonsense.

I wanted to buy an IC for my graduation project. At the manufacturer's site, the IC costs 2$. i went to several stores and asked about and no store has it except for one. i said cool now i can continue my project. I asked the girl How much do you want for it? she said 12$. I told her that Microchip produce it for 2$, how the hell do you want 12$ for it? she said its a rare IC here. so i told her " you are charging me 12$ instead of 2$ just because its rare?" she laughed andi gave her the 12$ and went home broken again. Tell us a story where you got ripped off for nonsense.

GazaAli

I wanted to buy an IC for my graduation project. At the manufacturer's site, the IC costs 2$. i went to several stores and asked about and no store has it except for one. i said cool now i can continue my project. I asked the girl How much do you want for it? she said 12$. I told her that Microchip produce it for 2$, how the hell do you want 12$ for it? she said its a rare IC here. so i told her " you are charging me 12$ instead of 2$ just because its rare?" she laughed andi gave her the 12$ and went home broken again. Tell us a story where you got ripped off for nonsense.

GazaAli

[QUOTE="GazaAli"]

I wanted to buy an IC for my graduation project. At the manufacturer's site, the IC costs 2$. i went to several stores and asked about and no store has it except for one. i said cool now i can continue my project. I asked the girl How much do you want for it? she said 12$. I told her that Microchip produce it for 2$, how the hell do you want 12$ for it? she said its a rare IC here. so i told her " you are charging me 12$ instead of 2$ just because its rare?" she laughed andi gave her the 12$ and went home broken again. Tell us a story where you got ripped off for nonsense.

comp_atkins

[QUOTE="GazaAli"]

I wanted to buy an IC for my graduation project. At the manufacturer's site, the IC costs 2$. i went to several stores and asked about and no store has it except for one. i said cool now i can continue my project. I asked the girl How much do you want for it? she said 12$. I told her that Microchip produce it for 2$, how the hell do you want 12$ for it? she said its a rare IC here. so i told her " you are charging me 12$ instead of 2$ just because its rare?" she laughed andi gave her the 12$ and went home broken again. Tell us a story where you got ripped off for nonsense.

Omni-Slash

you can call it whatever you want, but a cheap dirt IC should never be sold for 12$ anywhere, anyhow.GazaAli

[QUOTE="GazaAli"]you can call it whatever you want, but a cheap dirt IC should never be sold for 12$ anywhere, anyhow.Omni-Slash

i bought it because i need it so i can continue my graduation project, it does not worth 12$ whatsoever and it will never worth 12$. They priced it 12$ because they are the only store that have it. this is stealing actually, the only different thing is that you are legally stealing rather than illegally.GazaAli

Im not getting your logic at all. Here i am a college student wanting to continue his graduation project, i look for an IC, i only find it in one place, i have not choice but to buy it, so the store rips me off, knowing that i will get it because i have no other choice. They know this is not a video game that i can easily neglect, they know im a technical person who needs a specific piece of product they have, and they know i dont have a choice.GazaAli

They know only computer engineering students from a specific university would actually ask about such things.GazaAli

"Monopolists?" Is that even a word? Also, outrageous prices =/= monopoly.PannicAtack

[QUOTE="GazaAli"]They know only computer engineering students from a specific university would actually ask about such things.Omni-Slash

[QUOTE="GazaAli"]i bought it because i need it so i can continue my graduation project, it does not worth 12$ whatsoever and it will never worth 12$. They priced it 12$ because they are the only store that have it. this is stealing actually, the only different thing is that you are legally stealing rather than illegally.Omni-Slash

[QUOTE="Omni-Slash"][QUOTE="GazaAli"]i bought it because i need it so i can continue my graduation project, it does not worth 12$ whatsoever and it will never worth 12$. They priced it 12$ because they are the only store that have it. this is stealing actually, the only different thing is that you are legally stealing rather than illegally.Saturos3091

Things cant be delivered into Gaza these days because of military blockage.GazaAli

[QUOTE="GazaAli"]Things cant be delivered into Gaza these days because of military blockage.Omni-Slash

lol how do you know it's worth $12? Do you work for this company, or even know what he's buying?

What is the website that only has it for $2? Is there shipping involved?

Regardless of the price, you didn't have to buy it from that store. You weren't forced. It's not their fault you can't order it from the website.

Plus, you said it was the ONLY store that had it, and the others did not. Maybe you should be mad at those other stores and, in fact, be GRATEFUL this store had it for you.

Maybe the reason the other stores don't have it is because it doesn't sell?

The store needs to make a profit, pay for shipping, business expenses, shelf space, etc.

Sounds like you should be happy you found it!

lol how do you know it's worth $12? Do you work for this company, or even know what he's buying?

[QUOTE="GazaAli"]Things cant be delivered into Gaza these days because of military blockage.Omni-Slash

lol how do you know it's worth $12? Do you work for this company, or even know what he's buying?

F1_2004

He doens't need to work for the company to know it was worth that. There is no universal worth for an item determined by a company or some organization somewhere. It has to be worth that price for a seller to trade off the item, and worth that price for a buyer to pick it up. In this case, there was a willing seller and a willing buyer, for the $12 price. Hence, it was worth that price in the only objective sense that we can possibly measure.

What is the website that only has it for $2? Is there shipping involved?

Regardless of the price, you didn't have to buy it from that store. You weren't forced. It's not their fault you can't order it from the website.

Plus, you said it was the ONLY store that had it, and the others did not. Maybe you should be mad at those other stores and, in fact, be GRATEFUL this store had it for you.

Maybe the reason the other stores don't have it is because it doesn't sell?

The store needs to make a profit, pay for shipping, business expenses, shelf space, etc.

Sounds like you should be happy you found it!

flazzle

No, he got the product before the blockage, with its original price. and the proof is when some product X finishes in the market, there is noway it come back again. Since the store has it, it means he got it before the blockage, and that means he got it for dirt cheap. the 2$ price is just for a one unit, if you purchased 100+, you will get it for something like 1$.GazaAli

god forbid any of these guys ever get a chance to run our economy...

In my book, if i ever were in such a position, i would sell the product without any price increase, regardless if other stores have it or not, just out of sympathy with students really.GazaAli

god forbid any of these guys ever get a chance to run our economy...

F1_2004

In my book, if i ever were in such a position, i would sell the product without any price increase, regardless if other stores have it or not, just out of sympathy with students really.GazaAli

People would probably thing this is stupid, but i believe when i do something good for someone else, it will eventually return back to me.GazaAli

People would probably thing this is stupid, but i believe when i do something good for someone else, it will eventually return back to me.GazaAli

[QUOTE="PannicAtack"] lol at ignorance.[QUOTE="Omni-Slash"][QUOTE="GazaAli"]They know only computer engineering students from a specific university would actually ask about such things.GazaAli

[QUOTE="GazaAli"]i bought it because i need it so i can continue my graduation project, it does not worth 12$ whatsoever and it will never worth 12$. They priced it 12$ because they are the only store that have it. this is stealing actually, the only different thing is that you are legally stealing rather than illegally.Omni-Slash

People would probably thing this is stupid, but i believe when i do something good for someone else, it will eventually return back to me.GazaAli

Well, maybe in a way you did do something good for someone else. You are helping that company make money so that it can continue to exist and provide jobs for the employees so they can feed their families and provides taxes to be paid to your government to help it survive.

But its $10 more signficant in your country than the U.S.? Maybe its much more than people reading realize.

I mean, I am careful wasting money myself, but $10 is hardly something to feel so bad about, at least where I am from.

I really disagree with this notion that if you pay for anything it must be fairly priced and you must want it. My sister wanted a watch for her birthday which was made out of cheap plastic but priced at $170. It was incredibly over-priced, but i had to get it because it's what she wanted. It was unfairly priced and nowhere near worth the asking price. People pay for things which they feel are over-priced all the time. Just because you give in and give them their money doesn't mean you're happy about it and the exchange was a fair one.Ninja-Bear

I really disagree with this notion that if you pay for anything it must be fairly priced and you must want it. My sister wanted a watch for her birthday which was made out of cheap plastic but priced at $170. It was incredibly over-priced, but i had to get it because it's what she wanted. It was unfairly priced and nowhere near worth the asking price. People pay for things which they feel are over-priced all the time. Just because you give in and give them their money doesn't mean you're happy about it and the exchange was a fair one.Ninja-Bear

OMG $170 for a plastic watch?! Do you have a link to that somewhere? I feel for yeah, because when someone wants a gift like that, it's hard not to get it for them.

Anyone here watch American Idol? Anyone notice Randy Jackson's light-blue watch? It looks so cheap, but I have a feeling it's worth more than my house.

[QUOTE="Ninja-Bear"] I really disagree with this notion that if you pay for anything it must be fairly priced and you must want it. My sister wanted a watch for her birthday which was made out of cheap plastic but priced at $170. It was incredibly over-priced, but i had to get it because it's what she wanted. It was unfairly priced and nowhere near worth the asking price. People pay for things which they feel are over-priced all the time. Just because you give in and give them their money doesn't mean you're happy about it and the exchange was a fair one.Omni-Slash

Sorry but i'm not 'wrong', you're trying to attach a very rigid systematic philosophy to everyday life which simply does not exist. You're saying that if you pay for it, it's worth it. That's just not true. People buy stuff all the time which isn't worth the money, but they either cannot be bothered to find an alternative product or they have more money than sense/will to go elsewhere. Something doesn't have to be so outrageously expensive as to force you to not buy it in order to not be worth the asking price. That's why consumer reviews always mention value; if according to you everything is perfect value provided you're willing to pay for it, such guages would not exist.Ninja-Bear

Hey buddy, somebody developed the technology for that. A manfacturer makes them. Someone has to audit them. Another company ships them. And the retailer has to make some kind of profit...JJ_Productions

Sorry but i'm not 'wrong', you're trying to attach a very rigid systematic philosophy to everyday life which simply does not exist. You're saying that if you pay for it, it's worth it. That's just not true. People buy stuff all the time which isn't worth the money, but they either cannot be bothered to find an alternative product or they have more money than sense/will to go elsewhere. Something doesn't have to be so outrageously expensive as to force you to not buy it in order to not be worth the asking price. That's why consumer reviews always mention value; if according to you everything is perfect value provided you're willing to pay for it, such guages would not exist.Ninja-Bear

Eh, I don't think you've made a case here for objective worth. The problem is you are trying to argue that something isn't "worth" a price without any substance to what determins the worth. The only real substance we have for "worth" here is that the cost didn't exceed the constraints of either the buyer or seller.

If you bought it....the value was perfect for you.....period...you determined that the watch was worth giving up your $170......can you wish it was cheaper?...sure...but that's not what matters....the value of an object is determined by what the consumer is willing to pay.....prices can fluctuate.....value is determined by the individual...Omni-Slash

Hmmm... "perfect for you" is not quite accurate either. The value could easily be worth the price in the sense you are describing, but that doesn't necessarily mean that the price was optimal. In any given transaction, the price is within the constraints of the buyer and seller, but that doesn't mean either one of them feel the price was optimal or "perfect".

Well, I won't say you really deserved to be "ripped off" or anything but the scarcer the item the higher the price, naturally. Take for example CDs or books. The original print of these two will be pretty fairly priced, will it not? People buy it, new prints get released and gradually the original versions go out of print. When they are so obscure that only a few people have either unopened or completely mint conditioned copies of these things, do you think it's fair to charge 10-20 dollars for them? That's what they're worth isn't it? I know it's not the same because those ICs you are talking about are obviously still in stock and unless the military blockade is permanent (don't think it is) then they will still be available for purchase. But I've seen some people pay up to a few thousand dollars for a single CD or book. It only makes sense that their price be increased depending on their rarity, doesn't it?

Hmmm... "perfect for you" is not quite accurate either. The value could easily be worth the price in the sense you are describing, but that doesn't necessarily mean that the price was optimal. In any given transaction, the price is within the constraints of the buyer and seller, but that doesn't mean either one of them feel the price was optimal or "perfect".

It only makes sense that their price be increased depending on their rarity, doesn't it?ex-mortis

Partially yes... the complete answer would be rarity in combination with the demand for the item.

Of course, your working definition of "rare" might already include that the item is in demand but in short supply, so in that case, you are more than partially correct.