Tuesday, August 7, 2018

Outrageously Overpriced #Auctions! #18inchDolls #JourneyGirls #Cryptocurrecy Exchange Rate #CaveatEmptor

I was browsing an auction site, Listia, that uses a new cryptocurrency (XNK) as the Coin of the Realm. (This is a relatively new switch over for the site, so people are still adjusting to the new parameters and getting use to the exchange rate.) I noticed an auction for a NIB Journey Girls Doll (Toys "R" Us Brand) with a "Get It Now" price that converts to ~$155.00 USD as of my writing this. I blinked. I thought I was seeing things. I looked at the listing detail to see if I was missing something. I wasn't. It was merely a doll with no extras.

I couldn't decide:
1) if the seller was unaware of how much money she was asking for the doll (i.e., willy-nilly price setting),
2) whether the seller hoped any buyer would have no clue how much he was actually paying for the doll (as cryptocurrency payment is new to the site, it's taking people time to adjust and figure out value),
3) whether the seller actually thought the doll retailed for that much, or
4) whether the seller believed that since Toys "R" Us is now defunct the doll's value had suddenly increased exponentially.

Perhaps, it's some combination of the above. At any rate, asking ~$155.00 for a doll that retailed in the $30-40 range, seemed a bit strong to me. (I know the market dictates the end result.) One thing I do know. I certainly wouldn't buy it. Ouch! And so far neither has anyone else. The auction will probably expire without a buyer.

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