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Thoughts on "Price Gouging"?

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  • TxStetson

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

    Is this...
    ...price gouging?
    You obviously already know my feelings since I used the button instead of commenting on the jackel's post, but Absolutely. $0.60 per round for re-manufactured 40 S&W.
    Capitol Armory ad
     

    benenglish

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    You obviously already know my feelings since I used the button instead of commenting on the jackel's post, but Absolutely. $0.60 per round for re-manufactured 40 S&W.
    I wasn't going to go there but that thread has been dealt with by the admin. I'm just wondering what others thought, given that we had a real-world example to work from.
     

    subseashooter

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    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."
    I was going to copy and paste my facebook post response to folks crying about stuff, but you did it well enough here, and Ben tacked on some good points.

    Problem 1 - no hard and fast definition of the phrase. Trying to legislate morality rarely works well.

    Problem 2 - everyone's opinion is different.

    Problem 3 - as the article I started with states, if prices can be raised, distribution channels moved, etc....that all costs money, justifying the price increase.

    Problem 4 - all of the legal definitions I've found stipulated that it had to be tied to a "necessity", of which hand sanitizers and TP, IMHO, are not.

    Problem 5 - they all target businesses that "gouge"....IMHO individuals should not be able to be charged with gouging.

    Food for thought - 1/3 of the world's airline passengers are Americans. But 75% of the world's airline profits are from American passengers. Are we all just getting screwed and we don't realize it?

    Sent from my SM-G950U using Tapatalk
     

    ZX9RCAM

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    If somebody goes around trying to buy all of an item up, then trying to resell for an extreme profit, that's one thing.
    If somebody has an item which is in high demand, and desides to sell it, that's different.

    If it is a business raising prices, that's a whole other thing.
     

    TX OMFS

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    As I rule I agree w/ the OP article. Price "gouging" helps keep supply up during panic.

    Ammo isn't the same as water. You can live without ammo. If you want to spend 5x the normal rate for ammo right now, that's on you. If our access to water were cut-off and we were forced to pay 5x I can see the problem.
     

    pronstar

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    Sometimes these hoarders create the shortages, then profit from them.

    That’s what I have an issue with, and I believe what the spirit of the law is attempting to address.

    In an open market, the sellers who raise their prices will sell less product than those selling at lower prices.

    Price-fixing, which is illegal, is when sells collaborate to control market pricing. Effectively they’re creating a cartel that monopolizes supply.

    Price-gouging, to me, is when someone buys all of a product in a region, then profits from the effective monopoly he’s created.


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    deemus

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    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.

    Cheaper Than Dirt comes to mind. I really liked that McKinney store until they lost their minds. Its now shut down.
     

    kbaxter60

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    As I rule I agree w/ the OP article. Price "gouging" helps keep supply up during panic.

    Ammo isn't the same as water. You can live without ammo. If you want to spend 5x the normal rate for ammo right now, that's on you. If our access to water were cut-off and we were forced to pay 5x I can see the problem.
    I don't think I am on board with "If you don't need it, it's not gouging" approach.
    Besides, who determines need?
    And if the SHTF, then needs will change.
     

    toddnjoyce

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

    Is this...
    ...price gouging?

    Week ago Sunday, LAXAmmo was $179/1000 for 9mm reloads with free shipping. By Friday, it was Up to $206 and OOS.

    I wouldn’t call that gouging however, they do have some OOS 500rd 9MM reloads that we’re priced at $189. They were 147gr XTPs though and while higher than normal, they weren’t obscene.
     

    Renegade

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    Price-gouging, to me, is when someone buys all of a product in a region, then profits from the effective monopoly he’s created.

    Profit being the keyword.

    Before you decide someone is gouging, you need to know the cost for them to acquire the item.
     

    mroper

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    So Sam's club had gas 179 per gal and the Exxon up the street had it for 2.79 per gal is that price gouging or just stupid business practices.
     

    Kar98

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    In light of the upcoming elections, we stocked up and will be good for a while, pending "unforeseen" developments. Both guns and ammo. But damn, almost double the price for WWB? Pieces of shit.

    ETQLg-zWkAEVm2D?format=jpg&name=large.jpg
     

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    baboon

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    Out here by the lake!
    So Sam's club had gas 179 per gal and the Exxon up the street had it for 2.79 per gal is that price gouging or just stupid business practices.
    I refuse to shop Sam's & Walmart. And it's been that way for as long as I can remember. When I talk about moving to the country the wife reminds me of my Walmart hatred!
     

    perfor8

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    Whoever owns it gets to decide what to charge for it - and there are no moral implications - full stop. If you make a deal to sell an item at a price, but renege, then you ain't keeping your word - that's different.
     

    Whistler

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    I'm on board right up to the "full stop". As pointed out previously if one creates a shortage by establishing a monopoly then holds the market hostage there are moral implications, assuming one has morals. I'm 100% on board with free market but that ain't it.
     

    ZX9RCAM

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    I drove to Louisiana to buy a car from a member of a car Forum that I belong to.
    We kept in contact during the trip there, talking on the phone 2 or 3 times.
    When I got there, he told me that someone offered him $2k more than the price we had agreed upon.
    I left after a few choice words.
    His name was mud on the Forum and he disappeared.
     
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