Psychology of comc
panamamyers
Posts: 9 ✭
Anyone else notice that no matter how low you set the price on a card, there will be offers even lower than that.
It's funny how the human brain works.
If I set the price on a particular card at one dollar someone would offer 90 cents, but if I set that same card at 90 cents that same person would offer 80 cents and on down the line.
I guess it's the psychology of wanting to feel as though you got the best deal possible.
It's funny how the human brain works.
If I set the price on a particular card at one dollar someone would offer 90 cents, but if I set that same card at 90 cents that same person would offer 80 cents and on down the line.
I guess it's the psychology of wanting to feel as though you got the best deal possible.
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I could fairly list a card for $100 and I'll get an offer of $80 and the guy wont budge.
I could unfairly list the card for $120 and the same guy will offer $100 and buy it.
...People's emotions are funny... and other people are funny looking.
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It's just funny that a person would gladly pay 80 cents if only it were listed at 90, but would not dare pay 80 for the same item if it were listed at 80.
I am the same way when trying to buy a new car, but then sometimes I have to jog my brain to get out of that mindset and think that I am arguing about 150 dollars over the course of a 4 year payment plan, or in this case a nickel for a card.
Ugly old coffee mug: $.10 - nobody buys it
Ugly old coffee mug: FREE - gone to the first person who sees it.
George Brett, Roger Clemens and Tommy Brady.
Similar mindset exists at garage sales
Ugly old coffee mug: $.10 - nobody buys it
Ugly old coffee mug: FREE - gone to the first person who sees it.
Know a guy who owned apartment buildings. At one point he changed out a bunch of refrigerators that were provided with the apartments. He advertised in the paper that anyone could have them free if they just picked them up. No takers. He then ran an ad saying he had them for sale at $25 and sold them all.
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Similar mindset exists at garage sales
Ugly old coffee mug: $.10 - nobody buys it
Ugly old coffee mug: FREE - gone to the first person who sees it.
Know a guy who owned apartment buildings. At one point he changed out a bunch of refrigerators that were provided with the apartments. He advertised in the paper that anyone could have them free if they just picked them up. No takers. He then ran an ad saying he had them for sale at $25 and sold them all.
That's why whenever an eBay item ends, the seller realists the item at a higher price. I never could understand that.
That's why whenever an eBay item ends, the seller realists the item at a higher price. I never could understand that.
Guy has a card I am following on ebay. Originally listed for $10, then $14, then $25, now $34 for the same card. Cant sell it, but he keeps raising the price. This over the last 2 months
Veblen effect
Conspicuous Consumption
Noticed a similar psychological response when they opened a new taco place here in the Houston area recently that is very popular. They offered free tacos the first day and there must have been 300 people in line. I can only imagine it took 4 hours to make it through thete. In the euphoria of getting a good deal people just don't think clearly about all of the circumstances. They could have easily driven 30 minutes to the other location in town and bought some and been back home.
I agree. It's those psychological response that advertisers pray on, weather it's a storefront, eBay or COMC.
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