> What cracks me up about ebay is bidders never do their homework

Happens in "real life" too. An Auckland auctioneer (Fitzgeralds for
those in NZ) has PC & peripheral sessions from time to time. Mostly
it's a company's inventory that's been replaced by a newer system.
I went to one last year with a friend who was looking for a cheap PC
and was absolutely dumb-founded by the prices. I distinctly remember
a very ordinary 500MHz / inkjet printer / monitor going for NZ$2200
(~US$1100 at the time), and that was pretty much how things went
for the whole evening. My friend kept his hands firmly down. This was
at a time when I'd paid half that for a 2.4GHz stuffed full of fancy cards

More than 50% of the bidders at the auctioneers were of a particular
ethnicity and paying well over market price (AFAICT looking through
the second-hand papers). I couldn't quite figure that out, unless they
have too much money, but you don't get to keep / make money by
going nuts at an auction. And an auction room just can't be less
intimidating than a newspaper. Whatever, we got what we wanted
later on for a good price through an advertised private sale

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