Ethics question

[Deleted]

It is not "unethical" to put a higher price on something that is in higher demand. Actually, that type of thing weeds out those who really dont' need it as badly as they won't pay such a high price. People who really need the commodity will spring for more. So in the long run it really helps to ensure that things go to people that really need them rather than someone hoarding things. And, yeah, that isn't always the case but it does help push things in that direction. Price gouging isn't necessarily the "evil" that people want to paint it out to be.

[milee]

online.wsj.com/article/SB10001424052970204840504578087072405774176.html?KEYWORDS=price+gouging

[happyscooter]

i think it's illegal here. that is why the hotels post their prices on the back of the door. so you can see that they charge up to a certain $$ amount. and if they post it, it's legal.

[Tennesseer]

You are not a commercial business so I would imagine gouging laws would not apply to you.

But change the item being sold from gasoline to a bottle of water. Gasoline may or may not be a matter of a dangerous emergency. Would you feel comfortable selling a $1.00 bottle of water for $15-$20 to someone who was literally dying of thirst?

[Tiny]

I think that when there are alot of other places to purchase the item you are selling you can ask whatever you want for it. I'm assuming you are an individual and not a psuedo monopoly and/or haven't joined with others in order to set prices.

Steve's example happens all the time for some things on eBay (collectibles not gas). I like 1940/50 era wall pockets. They are usually listed in the $10 to $20 range for the common ones. Every now and then someone will list a common wall pocket for $99.00 and claim it's rare or special in some way. With a bit of patience you can pretty much find the many common wall pockets for you collection at reasonable prices. Of course, the Holy Grail(s) of wall pockets will have the high price tags.

I suppose if you really need that particular common Wall Pocket that's going for $99.99 right this minute you'll pay the higher price. Maybe that's what the seller is hoping for.

Steve's example with an individual selling gas at $15 a gallon is similiar. If I really needed a gallon of gas to keep a generator going - maybe because a relative would die because their live giving machine would stop - I might be tempted to get the $15.00 a gallon gas to tide me over until I could get gas at a lower price. But, then I'm sorta logical and rational so if I did have a need for gas that was life threatening - I'd probably have come up with some plan to get gas - maybe ask neighbors/authorities for some help - maybe doing a rock soup kinda thing - a pint of gas from alot of different people... whatever other idea I could come up with.

Now if all the gas stations and stores start to collude and raise the prices exhorbatantly... to take advantage of the shortage... I'd probably cry foul!

[Deleted]

The point of selling is to make a profit. And, if you really want to alleviate a bad situation, the ability to earn a profit draws in vendors to sell and make things available. If it isn't worth my time and effort to sell it, then i won't sell it. And, neither will anyone else. I think people are missing that it is a good thing and while it initially may be painful, that in the long run it brings in more vendors and brings more availability and lower prices. But, if there is no incentive then no goods will arrive at all.