In the days before eBay took off I used to go to computer auctions looking for bargains. I quickly learned that the combination of technology and auctions is pretty dangerous for most bidders; they are first dazzled by the tech and then caught up in the excitement of bidding.
The worst example I came across was a room full of 386 laptops (this was 1998). I wasn't going to bid for those things, but I mentioned to the other computer tech I was there with that I'd be surprised if they sold for ten bucks. He made a bet they would sell for fifty.
He won. The things sold for $150 a piece. I'm sure the mugs thought they were getting a good deal.
Another auction I went to was a for a shop clearing excess stock. While talking to a mate, a lady interrupted and asked "what would be a good price for these systems?"
My response was if you don't know what these are worth you shouldn't be here.
At least back then people had to make the effort to get to an auction. These days of eBay and Grays Online mean that anyone with an Internet connection can make a bid. Which increases the ratio of dills prepared to overbid on junk dramatically.
The Bleeding Edge blog has a description of how people get themselves caught. Today the Sydney Morning Herald reports on 1500 complaints the state government has received from upset online buyers.
I've no doubt a lot of those 1500 are legitimate ripoffs, but I'll bet there's a large proportion where the buyers didn't read the description like the example in the Bleeding Edge article or were just looking for the cheapest deal.
Searching for the cheapest deal is where people get stung. The days of exceptions bargains falling off virtual trees online ceased years ago.
The old saying "if something seems too good to be true then it probably is" applies just as much to the net as anywhere else.
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