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Author Topic: Flipping / profiteering  (Read 12924 times)

Chunkford

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Flipping / profiteering
« on: May 12, 2013, 08:47:09 AM »
I'm worried I may have been corrupted at some point in my life as I really can't see a problem with buying a product and trying to sell it for more than I paid for.

Recently I created a classified site and posted on a forum related to it. The replies wasn't what I expected.

The site I created was accused of being a perfect platform for these 'sum bags' to get away it - i.e. getting hold of limited edition products and selling for more than the RRP.

Now I can't see a problem with it. If someone is willing to pay then surely that's up to them to make that decision? If not then it doesn't sell.

And with regards to limited products surely the onus is on the manufacturer to ensure people can't buy more than one.

You can take pretty much any industry and there are people doing it. Take cars, tickets to concerts, antiques.... all can be found with people trying it on, some being way over the RRP.

Am I missing some moral point here? Is there something I'm not understanding? It's really bugging me.
« Last Edit: May 12, 2013, 08:59:44 AM by Chunkford »
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sugarkane

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Re: Flipping / profiteering
« Reply #1 on: May 12, 2013, 11:15:21 AM »
This isn't necessarily my opinion, but I'd say it comes down to added value. If a punter sees someone with deep pockets, contacts or whatever buy up a supply of something then simply sell it on for a higher price, there's no added value and it can be seen as parasitic.

Antique dealers, rare car dealers etc can add value by sourcing rare items, restoring them, and making them easy for the punter to find.
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Chunkford

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Re: Flipping / profiteering
« Reply #2 on: May 13, 2013, 08:23:58 AM »
Ah that makes sense when you put it that way. Cheers
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Rupert

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Re: Flipping / profiteering
« Reply #3 on: May 13, 2013, 11:04:32 AM »
I would be interested to know the back ground of the people using the words "Scum bag".
 
<rant>
Anyone buying low and selling higher is taking a punt.  They might not sell it. There is risk involved.

A lot of people don't understand that, because sometimes imho they do not have to earn money directly. They do not have the highs of the good months, or the lows when things are not working.

I was hearing a BBC chief justifying his salary recently, saying how he was responsible for an £x billion business. No he is not. He only gets to spend it. Never has to make it. </rant>

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Chunkford

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Re: Flipping / profiteering
« Reply #4 on: May 13, 2013, 12:10:56 PM »
>background

Well it feels like the lower end of society and I would say they're a typical MSE (http://www.moneysavingexpert.com/) fanatic - I hate the forum on there. Something about it makes me cringe.

And also, it's more my fault I think as I've always been business focused so try and hang around like minded people (this forum being a breath of fresh air), so getting a response like I did on a consumer forum shocked me a little.

I did get a few more replies though, one coming from a vendor backing me up so at least I wasn't going mad.

Fickle creatures consumers lol
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Rooftop

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Re: Flipping / profiteering
« Reply #5 on: May 13, 2013, 01:22:37 PM »
Oh, you should have said it was on MSE.  They're a law unto themselves there anyway - too high a proportion of nut jobs.

In MSE world ethical behaviour includes encouraging people to abuse genuine pricing errors from small independent retailers, utterly ripping off other sites and conning competition organisers. Not sure I'd use them as an ethical barometer.

On the good side though, they are an epic place to spam with the right offer :D
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Chunkford

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Re: Flipping / profiteering
« Reply #6 on: May 13, 2013, 02:09:20 PM »
It's not MSE but feels like it's the same breed of people.

It's scary place and one that I need to remove myself from
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ergophobe

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Re: Flipping / profiteering
« Reply #7 on: May 13, 2013, 03:36:30 PM »
Quote
someone with deep pockets, contacts or whatever buy up a supply of something then simply sell it on for a higher price

Enron, for example. Archer Daniels Midlands. We all have a limit where we think this behavior is wrong (and yes, in the cases of Enron and ADM it was actually *illegal* not just immoral).
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Rupert

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Re: Flipping / profiteering
« Reply #8 on: May 13, 2013, 04:10:41 PM »
illegal is different to me.

The concept is behind every retailer.

Most people think that "dressing it up nicely" in the shop window is OK.  Or selling with Sexy pictures, is OK. 


Until they realise they are being manipulated.  Even then with products like Apples', denial sets in.

(Not the fruit, but belonging too, did I get the apostrophe right? ) :-\
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grnidone

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Re: Flipping / profiteering
« Reply #9 on: May 13, 2013, 04:16:07 PM »
Quote
I'm worried I may have been corrupted at some point in my life as I really can't see a problem with buying a product and trying to sell it for more than I paid for.

?? Isn't that how businesses are run?  If you don't produce it, you buy it and sell it?
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Rupert

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Re: Flipping / profiteering
« Reply #10 on: May 13, 2013, 08:45:56 PM »
Quote
?? Isn't that how businesses are run?  If you don't produce it, you buy it and sell it?

Yea, but my experience says that most people would rather not know the profit you have to make to make a living.

its OK for them to earn $50k per year, but not the shop keeper. Oh no. Well not from them anyway.

I have seriously given up talking to none business people about business.  They dont get it.

i mean Govt employees or big "Business" people.

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buckworks

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Re: Flipping / profiteering
« Reply #11 on: May 13, 2013, 10:10:46 PM »
Quote
They dont get it.

That matches my experience.

Someone in a sector I watch closely surveyed a bunch of consumers about what they thought would be reasonable and fair markups on merchandise.

The most common answer selected was 10%.

Those respondents have obviously never had to make payroll ...
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