Stupid Prices On Amazon. What's Going On?

[bainbrig]

A few times over the years, we've noticed 'ordinary' items on Amazon with absurd prices - for example, a box of Canon photographic paper, usual price about £12, offered at £119.00. And today, cushions going for £11 at Ikea, (and Amazon), but one gang asking over a hundred pounds for the same object.

No, nothing different, at all, precisely the same in every respect.

Do these sellers seriously expect occasional rich idiots to purchase their goods? Or is it some clever marketing strategy, which has as yet alluded me.

Anyone know what's going on?

BillB

[woofgang]

I think if you take a listing down and re list it when you sell out, when you get more stock and list it again, you pay a second/third/fourth listing fee. If you just leave it listed but change the price so no one will buy, you save the listing fee. If anyone buys one, you pop to the lacal ikea and make a fortune

[dannyk13]

I would imagine that it is a pricing error.

[Garaman]

It is the dynamic pricing system that Amazon uses. It does indeed throw up some absurd prices at times.

[Sqad]

woofy....LOL......LOL

[bainbrig]

danny: not, it's not an error.

garaman: what's a dynamic pricing system when it's at 'ome?

woof: makes some sort of sense!

[Garaman]

It is a system that uses algorithms to set prices based on availability, demand etc. It can get things badly wrong and assume the last bar of chocolate is worth its weight in gold. (Mind you if it was the last bar it would be to some!)

[bainbrig]

Garaman, thanks.

[fiction-factory]

I've done it myself on ebay- they sometimes put a ridiculous price on in order to keep the listing but while they wait for new stock or try to sort out some other issue. Sometimes hotel websites list ridiculous prices like £999 a night while making decisions about selling strategies for certain dates later in the year

[pastafreak]

I had a book on my Amazon wishlist that just today jumped from .67p to £200. Go figure.

[fiction-factory]

On ebay it's a device used to ensure no-one uses the 'buy now' facility while the item is out of stock and stocks are being replenished. Probably the same on Amazon