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Reselling Apple Products on Launch Day: "This whole game is over"
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I wouldn't have a problem with it... I would laugh in the guy's face because he's going to lose a ton of money. He just laid out a crap-ton of cash for inventory for an item that he's not going to be able to mark-up much, if at all. He's going to have to pay to transport all of of those drinks... pay to store them... pay to market them... etc. AND he paid _market_ price for them with all the markups the corner store had already applied! What a damn fool!
Good try at a "bleeding heart" example though....
Your always going to see negative comments on this forum. You are dealing with a lot of teens who do not understand economics and adults who do not understand what it takes to be successful.
The best is when people post statements like "well that's not how Apple does business" or "they should be like Apple" which makes me laugh because it shows how little people know about business.
Don't be hateful about others making a legal living.
The best is when people post statements like "well that's not how Apple does business" or "they should be like Apple" which makes me laugh because it shows how little people know about business.
Don't be hateful about others making a legal living.
Now that his n-hexane myth has been exploded, maybe Mike Daisey will make this a new "scandal" for his one-man show.
Tickets (which have an expiration date and have a limited supply), are different than iPads, which don't have an expiration date and the supply of which is only limited by Apple's willingness to produce it.
How do you define reasonable? Because according to economics, Apple isn't setting the price high enough in the short term (aka launch day, or the first week, etc.) That or Apple isn't distributing them efficiently.
Hold on there. I think you're making the assumption that scalpers only sell to those who lined up for the product, and those are the only people who buy from scalpers, or even the main ones (probably be too pissed to buy one). What about to people in countries that don't have Apple stores or official resellers? What about people that don't have the time to line up but still want the product on the first day? I'd argue those last two categories actually represent a bigger portion of a scalper's customers than those that line up and fail to get one do.
But scalpers (in the case of the technological products) can't constrain supply, if the retailer was operating efficiently. There simply isn't enough of them and they don't have the capital to buy enough to cause a dent in supply. If Apple had modeled all of their launches like this one, then scalpers wouldn't even bother scalping Apple products.
Another point is that those who are angry at people scalping Apple's products should direct their anger at Apple for being inefficient by: A) Not pricing the product correctly thereby causing a severe shortage or B) not distributing the product efficiently. Apple scalpers only exist because of Apple's lack of efficiency.
Just wanted to point out that diamond companies do this all the time by artificially limiting supply in order to raise prices.
I would argue that scalpers are adding value by providing a service to those who can't obtain the iPad otherwise or who don't have the time to line up and would rather exchange that time for money.
EDIT (since you edited): They can't leverage their higher capital if people who view time as less important than money line up earlier than scalpers do. And like tierim said, time and money in economics, are equivalent. So therefore, assuming people were willing to use more of their time, then scalpers would actually be at a disadvantage.
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I agree. It's only a crime if they swapped the ipad's for rocks or with a older model. By all accounts they have the right to return them especially if there unopened. Actually it does not matter if there opened/unopened. There is no restocking fee at Apple.
But at bestbuy it's a different story. Return too many times (even if unopened) you will be banned for 90 days. Look up "the retail equation".
It doesn't sound like anyone is making a living off this, legal or otherwise.
People make a living everyday off reselling products. They are on a site called eBay. They go to garage sales and resale products for triple or more what they pay. Not to mention the people who buy electronics on sale and resale it.
Such a racist observation...Why pick on Asians?
I hear the Iranian and Congolese resell markets are doing great.
I hear the Iranian and Congolese resell markets are doing great.
Hey, I'm as capitalist, or more so, as the next guy. I think think these people should have a legal right to do what they do. I also think legitimate end users who are unable to get the product due to artificial shortage caused by the arbitrageurs have a right to think them douchebags. I also think Apple has the right to clamp down on them for abusing their return policy. A 5% restocking fee on any units in excess of 2 per person should suffice. Speculating and arbitrage are fine, but they shouldn't be risk free.
I find it funny that China still claims to be a "communist" nation. The people don't seem to be hearing that particular message.
isnt this what companies do? buy things and then resale them? who do yu work for?
Where I work isn't all that relevant here. I just hate knowing a product is out of stock because some selfish prick sent all of his buddies to buy out all of the stock when all I wanted was one. Again, I'm glad the game is over!
I agree but will also use this by replacing scalpers with Wall Street in another post elsewhere!
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There is no true communism on this planet
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Nice obscure reference. 99% of the people here will not have a clue who you are referencing
What you call selfish, I call self interest. Scalpers basically want profit, just like every other business out there.
Artificially creating supply constraints by buying in bulk with the sole purpose of reselling at higher prices should be illegal.
In some countries it already is.
It doesn't matter if it's iPads, concert tickets, or bonds/securities.
In some countries it already is.
It doesn't matter if it's iPads, concert tickets, or bonds/securities.
Downranks because you don't have a clue, apple is the most valuable company in the US and there products are iconic, they sold more iPads this time around then ever before, 3million in 4 days and to say android tablets will rise is ignorant, arrogant, untrue, and downright wrong, you know it and purely the reason why you said it. Mabey android will beat out apple in the future and if thy make a better product than apple, I'll be first in line, but after dozens of flops, your comment has no Merritt. At least your really smart.
I agree but will also use this by replacing scalpers with Wall Street in another post elsewhere!
Good one. There is little to no difference between iPad scalpers on the one side, and the finance sector (i.e. banks and real estate brokers) on the other. Wall Street is packed with parasites of the market (or "scalpers"), but they are called "brokers" instead.
Sadly in some areas scalping is illegal, but nowhere, yet, is what Wall Street does illegal.