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Subject: BGG in a market economy I don't get! ? rss

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Dark Angel
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Having played a large number of economic based euros since entering the hobby two years ago, I am constantly in admiration at the level of strategic thinking and income management of the people who are often attracted to this hobby.

My question is: why is it then that so many gamers put so many secondhand readily available games up on the geek market for sale at prices that are way above most retails prices. I can understand OP games and those with expansions added but often this not the case. Check out Eldritch horror,for example,Uk sellers at Fifty five pounds on BGG when a new copy is easily available at under forty with online retailers. Just seems poor economics to me???
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Tyler Bishop
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crewston wrote:
Having played a large number of economic based euros since entering the hobby two years ago, I am constantly in admiration at the level of strategic thinking and income management of the people who are often attracted to this hobby.

My question is: why is it then that so many gamers put so many secondhand readily available games up on the geek market for sale at prices that are way above most retails prices. I can understand OP games and those with expansions added but often this not the case. Check out Eldritch horror,for example,Uk sellers at Fifty five pounds on BGG when a new copy is easily available at under forty with online retailers. Just seems poor economics to me???

Most of the time, these things ARE posted when they're hard to find, and they just don't sell. Or they're pimped versions with painted minis, custom containers, etc. Or they also include expansions, like the example you tried to cite but didn't bother to click on Plenty of reasons.
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the listing wasn't outrageous when it was made .. but time moves on
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Justin Case
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People are free to ask any price for an item that they wish, but that doesn't mean that anyone else will necessarily *pay* that price. And if someone does pay the asking price, then maybe pricing the item up wasn't such a bad idea after all.

This isn't just on BGG though -- anyplace where people are free to set their own asking price, some will always go higher, as can easily be seen on eBay and Amazon too.

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crewston wrote:
Having played a large number of economic based euros since entering the hobby two years ago, I am constantly in admiration at the level of strategic thinking and income management of the people who are often attracted to this hobby.

My question is: why is it then that so many gamers put so many secondhand readily available games up on the geek market for sale at prices that are way above most retails prices. I can understand OP games and those with expansions added but often this not the case. Check out Eldritch horror,for example,Uk sellers at Fifty five pounds on BGG when a new copy is easily available at under forty with online retailers. Just seems poor economics to me???

I notice this a lot in auctions. Someone will put a BIN $5 over the cost of what it sells at in retail....when it's used and slightly worn. This is common stuff, not even rare or OOP. I think gamers tend to overvalue what they have simply because they took good care of it. Typically I'm not going to bid unless it would be cheaper than buying from CSI. Putting something at value is usually still going to be sub optimal when you throw in shipping ( which online stores usually have a free threshold for). I'm not saying all people do this, I know some will actually make stuff good deals because they want stuff to actually sell.

I'm short, lower your prices for success. No one is going to pay 10 more to get a used copy of a game they can order from CoolStuffInc with free ship.....actually....I HAVE seen people do that shake nevermind
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that Matt
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crewston wrote:
Just seems poor economics to me???
Well, start by considering that BGG listings are free. So your cost to put up a game, regardless of price, is near zero... that's starting off well, economics-wise. Next, don't assume that everyone with a marketplace listing is trying to move the game immediately.
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Personally I would pay as much as 10% more for a game on BGG over some other options online as I am generally assured that it will be packed better since the seller is probably a board gamer as well. Board gamers usually pack with a level of care that they would also like to receive.
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Derry Salewski
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WTF part of eldritch horror involves strong business management skills?
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that Matt
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scifiantihero wrote:
WTF part of eldritch horror involves strong business management skills?
Across a barren expanse covered in grey mist you wander. After what might have been days, you discover a lone pedestal rising from the earth. Embedded within its smooth surface, a shining panel presents you with rows of neatly glowing text. This device is somehow offering you the opportunity to purchase a board game (
–1).
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Overdrinking leads to overthinking. IME.
 
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scifiantihero wrote:
WTF part of eldritch horror involves strong business management skills?
crewston wrote:
I am constantly in admiration at the level of strategic thinking.....of the people who are often attracted to this hobby.

On the other hand.... whistle
 
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Thomas D
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This really isn't strange. Just browse craigslist and you will see people selling old couches for far too high and old video game systems for the same price you can get a new one for.

Coming from heuristics in psychology they actually have a term for this, It's called the endowment effect, where someone will not turn around and sell something for the same price they bought it for. Probably some subset of sunk cost, where we attribute value beyond the original because of our own value of it. Given how much most of the BGGers like boardgames, it isn't surprising that we value boardgames so highly. If you talk to people who don't enjoy the hobby as much they will think you are crazy for buying a $50 board game.

P.S. - Don't tell them about Caverna or any of the kickstarters

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brewdinar wrote:
Most of the time, these things ARE posted when they're hard to find, and they just don't sell. Or they're pimped versions with painted minis, custom containers, etc. Or they also include expansions, like the example you tried to cite but didn't bother to click on Plenty of reasons.

Most? No. Occasionally. But that's it. Most of them are just standard used copies of games that are either in print or were between printings for like 2-3 weeks.

crewston wrote:
Having played a large number of economic based euros since entering the hobby two years ago, I am constantly in admiration at the level of strategic thinking and income management of the people who are often attracted to this hobby.

My question is: why is it then that so many gamers put so many secondhand readily available games up on the geek market for sale at prices that are way above most retails prices. I can understand OP games and those with expansions added but often this not the case. Check out Eldritch horror,for example,Uk sellers at Fifty five pounds on BGG when a new copy is easily available at under forty with online retailers. Just seems poor economics to me???

I think its because nobody does anything about it. They put it up, there's an occasional thread like this, everybody says "but my capitalism" and people continue to list their ridiculous prices.

I also think some buyers believe they're being altruistic. The same way some support their FLGS instead of using online stores, some buy on BGG to support BGG with the 3% or to support the community or to give money to the gamer with the sob story in his auction.

I've often been tempted to just post comments on auctions with links to cheaper retail prices but I haven't because I bet it would be considered rude and troll-ish and that somehow I'd be the bad guy. I bet other people feel similar. I know I saw people say they wanted to warn other buyers the day Fury of Dracula 3rd edition was announced and a dozen copies of 2nd edition went up on BGG at slightly lower prices than the previous week and they didn't because they thought they'd be "interfering." But you'd "interfere" if you saw someone getting taken advantage of in the street wouldn't you?

And even OOP games often have over a dozen listings at inflated prices on BGG plus more on Ebay and Amazon, which proves the market isn't actually there, but all the sellers keep their prices inflated waiting for the one sucker.

Its greed. That's all it is. Don't let anyone else tell you different.
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that Matt
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stevelabny wrote:
But you'd "interfere" if you saw someone getting taken advantage of in the street wouldn't you?
Not really. For example, I've never spent time inside or outside a local gaming store with a bullhorn just yelling "Amazon.com" "CoolStuffInc.com" "CardHaus.com"
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crewston wrote:
Check out Eldritch horror,for example,Uk sellers at Fifty five pounds on BGG when a new copy is easily available at under forty with online retailers. Just seems poor economics to me???

For what it's worth, it comes with Forsaken Lore, so that brings it up at least a bit, although it's not one of the big expansions and it is a played copy. It's his first sale, too.

I'll note that nobody complains if/when someone sells something for too little. Probably because they don't stay listed for very long, and the winner has enough class not to crow about it in front of everybody.

But thrift store finds...

Also, unlike real economics, game economics are very simple--we all know the rules, we usually know the probability of all future events, there is a very small number of other actors in the economy, etc etc.

+1 on part of it being hard to part with, and overvaluing, things we like and bought ourselves.
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Some BGG members got their games from their stores (not online). Many of these stores charge close to MSRP. If they got it via online, they consider shipping and tax as part of the games intrinsic price. And lastly, we gamers rarely consider the concept of depreciation. Most think in terms of appreciation of prices as in like properties and rare collectibles. These explain the "higher" prices you see. For some very difficult to get items, then yes, rare-ness or OOP-kind of prices are justified: e.g. Acquire and Mexica (before the reprint announcement). Anyway, you see most of these games have no buyers for many years indicating the prices are indeed higher than market willing to bear. The best situation to see market in action is to see auctions where items are priced at $1, a lot of them you'll see over the course of auction ramp up to near market value as listed on BGG Market. On rare occasion it will exceed it. For that it is due to winner's curse.
 
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tumorous wrote:
stevelabny wrote:
But you'd "interfere" if you saw someone getting taken advantage of in the street wouldn't you?
Not really. For example, I've never spent time inside or outside a local gaming store with a bullhorn just yelling "Amazon.com" "CoolStuffInc.com" "CardHaus.com"

Consider this..

A store is selling Fury of Dracula. Your friend walks in and decides to buy it and sees $500 "super rare, out of print." sign attached. Your friend has no idea that FFG is doing a reprint. You know your friend likes to save money if he can. So do you tell him, or refuse to "interfere"

I'm any case I think there a huge difference between a FLGS doing markups so they can stay in business, and intentional fleecing that goes on a lot of the time.
 
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craig vivian
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It is simple--greed and banking on others not knowing the current price.

Too bad that people succumb to the rip-off other gamers disease.
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hanadaspiel2 wrote:
Most think in terms of appreciation of prices as in like properties and rare collectibles.

That's what I was going to say. My sister's house, for instance, cost $250,000 when it was built for them. But now every house on her street, including hers, is selling for at least $450,000.
 
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I always just assume the seller places those items at those prices to give me something to chuckle over while perusing through the Marketplace. Kudos to them for brightening my day, if only a little bit.

The thought of actually purchasing said items though never enters my mind.
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Some sellers simply don't know how to price. They consider what they paid for it and what they want to sell it for and price it there. They don't look at the market or the rating or how many others are already in the market.

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Gambiteer wrote:

People are free to ask any price for an item that they wish, but that doesn't mean that anyone else will necessarily *pay* that price. And if someone does pay the asking price, then maybe pricing the item up wasn't such a bad idea after all.

This isn't just on BGG though -- anyplace where people are free to set their own asking price, some will always go higher, as can easily be seen on eBay and Amazon too.


I've mostly experienced lower pricing on BGG, then on ebay.
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brewdinar wrote:
crewston wrote:
Having played a large number of economic based euros since entering the hobby two years ago, I am constantly in admiration at the level of strategic thinking and income management of the people who are often attracted to this hobby.

My question is: why is it then that so many gamers put so many secondhand readily available games up on the geek market for sale at prices that are way above most retails prices. I can understand OP games and those with expansions added but often this not the case. Check out Eldritch horror,for example,Uk sellers at Fifty five pounds on BGG when a new copy is easily available at under forty with online retailers. Just seems poor economics to me???

Most of the time, these things ARE posted when they're hard to find, and they just don't sell. Or they're pimped versions with painted minis, custom containers, etc. Or they also include expansions, like the example you tried to cite but didn't bother to click on Plenty of reasons.

No my point remains the example I gave does have an expansion but the cost asked is for a second hand damaged copy that can be bought new for cheaper and still have change to get the expansion ,probable saving 5 pounds!
 
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EllenCaroline wrote:
hanadaspiel2 wrote:
Most think in terms of appreciation of prices as in like properties and rare collectibles.

That's what I was going to say. My sister's house, for instance, cost $250,000 when it was built for them. But now every house on her street, including hers, is selling for at least $450,000.

Yeah but I bought some socks for 5 quid a year ago, if anyone wants them now for 7 quid then let me know
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I'm sorry that the BGG Marketplace does not revolve around giving you what you believe to be the best possible deals.
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