Thoughts on "Price Gouging"?

[subseashooter]

https://issuesinsights.com/2020/03/...63oSydSBV3fSOb-eoNAuvT9l6vFl-MboPyYMWys7GKS-Y

I ran across this on my facebook feed, and I personally agree with it.

When stuff goes sideways, a free market will correct itself.

And those that choose to blatantly abuse consumers - ahem - *CTD* - *coughcough* - will eventually pay the price.

But adjusting to market demands throttles the supply/demand curve, IMHO.

Thoughts?

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[kbaxter60]

After reading that and reflecting on it a bit, I am having mixed emotions.
I actually would not begrudge a merchant raising a price somewhat (note the "somewhat") for items that are selling like crazy. They make a little more profit on an item that they may have trouble keeping in stock. And who gets hurt he most? The IDIOTS who are buying up 10x their normal monthly usage because they are panicked sheep.
Now, for the seller that wants to completely take advantage of the need and fully GOUGE the consumer? I think that the normal market forces will take care of them. They should be dragged into the light of day and heavily ridiculed. They should get the best form of bad advertising possible. They should be shamed and hounded until they are no longer relevant. Is CTD still a thing? If they are, I have not looked at them since the last fiasco. I hope that their business is in the sewer.

 

[txinvestigator]

I always gauge prices.

 

[Kar98]

Raising the price of your merch slightly to prevent hoarding? OK.

Buying up the entire supply of a region cheap and attempting to sell at super inflated prices? - Hang the SOB.

 

[pronstar]

Raising the price of your merch slightly to prevent hoarding? OK.

Buying up the entire supply of a region cheap and attempting to sell at super inflated prices? - Hang the SOB.

Profiteering becomes predatory when lives are at stake.

Hang ‘em as a lesson to others.


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[kbaxter60]

Is CTD still a thing?

That's right. I quoted my own post. Bad form?
Anyway, after writing it, I had to look. They ARE still a thing. And it looks like they have not changed a lot. Here's their 9mm ammo page:
https://www.cheaperthandirt.com/ammunition/handgun-ammo/9mm-luger-or-9x19mm/

 

[Hoji]

That's right. I quoted my own post. Bad form?
Anyway, after writing it, I had to look. They ARE still a thing. And it looks like they have not changed a lot. Here's their 9mm ammo page:
https://www.cheaperthandirt.com/ammunition/handgun-ammo/9mm-luger-or-9x19mm/

Wow. I wonder how many orders they canceled yesterday. Some of those prices are $100 more than the same product was yesterday

 

[Bozz10mm]

That's right. I quoted my own post. Bad form?
Anyway, after writing it, I had to look. They ARE still a thing. And it looks like they have not changed a lot. Here's their 9mm ammo page:
https://www.cheaperthandirt.com/ammunition/handgun-ammo/9mm-luger-or-9x19mm/

Looks like they pretty much doubled the price on the 9mm ammo.

 

[Nietzsche]

Capitalists in action...nothing to see here.

 

[toddnjoyce]

https://issuesinsights.com/2020/03/...63oSydSBV3fSOb-eoNAuvT9l6vFl-MboPyYMWys7GKS-Y

I ran across this on my facebook feed, and I personally agree with it.

When stuff goes sideways, a free market will correct itself.

And those that choose to blatantly abuse consumers - ahem - *CTD* - *coughcough* - will eventually pay the price.

But adjusting to market demands throttles the supply/demand curve, IMHO.

Thoughts?

Sent from my SM-G950U using Tapatalk

Here’s the AG’s policy on price gouging.

https://www.texasattorneygeneral.go...gency-scams/how-spot-and-report-price-gouging

I’ve reported CTD to the AG’s office.

 

[Vaquero]

Capitalists in action...nothing to see here.

 

[ZX9RCAM]

Wut?

 

[Dawico]

2 issues I have.

The first is the term "life saving items". Nothing on the list is absolutely necessary for life to exist. Hand sanitizer wasn't even a thing 15 years ago as far as public consumption goes. Asprin and toilet paper aren't a necessity. Neither is ammo.

Of course there are exceptions but few.

The second thing is who gets to decide how much of a price raise is "gouging"? 10%, 20%, 100%? Where do we draw the line?

My attitude is if you need it bad enough pay the new price if you haven't planned ahead enough to be prepared for a few weeks of shortages. Or be the first in line at the store. Or make friends with someone with connections.

If you aren't in a financial position to be prepared that is your lack of preparation too.

The free market will right itself. The companies will pay for their poor decisions in the long run if they are gouging. If an individual gets ahead of the curve good for them. That's Capitolism.

Let it be.

We don't need more government.

The biggest problem is people forgive and forget. For personal issues that's a pretty good policy. In business it's a bad policy.

"Screw me once, your fault. Screw me a second time and it's my fault."

 

[kbaxter60]

The second thing is who gets to decide how much of a price raise is "gouging"? 10%, 20%, 100%? Where do we draw the line?

It's kinda like that judge who said on "pornography": I'll know it when I see it.
If they have gone 10x, it's gouging. As already stated: see CTD.

 

[Dawico]

It's kinda like that judge who said on "pornography": I'll know it when I see it.
If they have gone 10x, it's gouging. As already stated: see CTD.

That's where I don't forget or forgive. They got their last dollar from me a looooong time ago.

 

[Jon Payne]

2 issues I have.

The first is the term "life saving items". Nothing on the list is absolutely necessary for life to exist. Hand sanitizer wasn't even a thing 15 years ago as far as public consumption goes. Asprin and toilet paper aren't a necessity. Neither is ammo.

Of course there are exceptions but few.

The second thing is who gets to decide how much of a price raise is "gouging"? 10%, 20%, 100%? Where do we draw the line?

My attitude is if you need it bad enough pay the new price if you haven't planned ahead enough to be prepared for a few weeks of shortages. Or be the first in line at the store. Or make friends with someone with connections.

If you aren't in a financial position to be prepared that is your lack of preparation too.

The free market will right itself. The companies will pay for their poor decisions in the long run if they are gouging. If an individual gets ahead of the curve good for them. That's Capitolism.

Let it be.

We don't need more government.

The biggest problem is people forgive and forget. For personal issues that's a pretty good policy. In business it's a bad policy.

"Screw me once, your fault. Screw me a second time and it's my fault."

Agree 100%. Free market will always correct itself IMHO. CTD screwed me years ago. They cancelled my order then doubled the prices. I decided right then and there they'd never get my money again.

I don't need the government to control privately owned businesses. We already have too much government in our lives.


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[toddnjoyce]

That's where I don't forget or forgive. They got their last dollar from me a looooong time ago.

I’ve never bought from CTD, but I filed the complaint because I don’t forget.

That’s a business that cant go out of business soon enough for me.

 

[motorcarman]

Brothers who hoarded 17,700 bottles of hand sanitizer forced to donate to charity

https://www.today.com/news/brothers-who-hoarded-17-700-bottles-hand-sanitizer-forced-donate-t176028

 

[benenglish]

It's valid for people to ask how much of a price increase can be considered gouging. However, some cases are clear. To wit -

They cancelled my order then doubled the prices.

Barring an obvious mistake in the quoted price, it's not possible for a good sale to suddenly be unprofitable just because the merchant realized they can make bigger profits. You have to honor your prices at the time the deal is agreed.

Canceling orders to mark up prices in a time of scarcity should be legally defined as gouging, period. I don't care if the markup is just 10%; it's still predatory pricing.

To me, what CTD does is no different than those fly-by-night moving companies that quote a price then show up at your new residence demanding $1000 more than the contract stipulated, holding your household goods hostage until you cough up the money. Businesses that work like that wind up with people going to jail when they do it enough to get noticed.

In Jon's case, the purchased items belonged to him the moment he clicked the "Complete Order" button and his credit card was accepted. What CTD did was steal his property, credit his card to motivate him to go away, then re-sell the stolen goods at a higher price.

CTD is a den of thieves. And believe me, I pondered long and hard before I said that. The earlier drafts of this post made references to a sexual act and a fence post wrapped in barbed wire.

 

[benenglish]

One way to gauge gouging is simply by price. Please allow me to informally poll this thread.

Is this...

LAX Ammo factory re-manufactured, brass cased, cans are still sealed

115grn 9mm - $200 per 500 rounds
180grn 40S&W - $300 per 500 rounds

...price gouging?