Author:  FigBits  Posted:  Jul 20, 2016 12:36  Subject:  Re: standard deviation on price indices  Viewed:  24 times  Topic:  Suggestions Cancel Reply

BrickLink ID Card FigBits (3563) Location:  Canada, Ontario Member Since Contact Type Status Nov 11, 2009 Seller Store: FigBits

In Suggestions, yorbrick writes:       Not all prices have normal distribution. Sometimes the outliers are significant. http://www.bricklink.com/catalogPG.asp?P=62360&colorID=11 For the last several months, the trimmed mean for this part would have shown around $1. The actual mean (which is what currently gets displayed) was $2. If I had some last month, I probably would have listed them at $15, which would likely have been the highest listing at the time. And they probably would have sold by now. Now, in that case, the mean isn't a particularly good representation either. But it's a better number for a seller wondering what price they should ask, than the trimmed mean. For parts like that that are getting rarer due to many people wanting them for well known MOCs (similar has happened for the Bat-Pod), then having another option to use a 1-month mean for sold parts may also make sense. That part is already possible now, using the "Price & Group by month" link on the PG pages. (It's grouped by calendar month, as opposed to showing the previous 30 days worth of sales.)    Although this is where a seller that knows his stock and his business makes money. I bought quite a few of those windshields from people listing them cheap (and also the dino necks and fezes) because it was fairly obvious they would increase in value. Right. There are some other parts where the listings don't follow a normal distribution, which might have illustrated my point better ... but I didn't want to draw attention to them because I am currently benefiting from that knowledge! -- Marc.

Message is in Reply To:

Re: standard deviation on price indices - yorbrick (1185)

[...] For parts like that that are getting rarer due to many people wanting them for well known MOCs (similar has happened for the Bat-Pod), then having another option [...] (96 months ago, Jul 20, 2016, to Suggestions)

21 Messages in this Thread:

 Msg 1 - brick_projects (3653) 96 months ago Jul 20, 2016 to Suggestions
 Msg 2 - FigBits (3563) 96 months ago Jul 20, 2016 to Suggestions
 Msg 3 - jeslego (1050) 96 months ago Jul 20, 2016 to Suggestions
 Msg 4 - FigBits (3563) 96 months ago Jul 20, 2016 to Suggestions
 Msg 5 - yorbrick (1185) 96 months ago Jul 20, 2016 to Suggestions
 Msg 6 « - FigBits (3563) 96 months ago Jul 20, 2016 to Suggestions
 Msg 7 - jeslego (1050) 96 months ago Jul 20, 2016 to Suggestions
 Msg 8 - FigBits (3563) 96 months ago Jul 20, 2016 to Suggestions
 Msg 9 - jedvii (666) 96 months ago Jul 22, 2016 to Suggestions
 Msg 10 - yorbrick (1185) 96 months ago Jul 20, 2016 to Suggestions
 Msg 11 - jancg (378) 96 months ago Jul 20, 2016 to Suggestions
 Msg 12 - ToddMyers (356) 96 months ago Jul 20, 2016 to Suggestions
 Msg 13 - jancg (378) 96 months ago Jul 20, 2016 to Suggestions
 Msg 14 - Leftoverbricks (2225) 96 months ago Jul 20, 2016 to Suggestions
 Msg 15 - garbanzo (322) 96 months ago Jul 20, 2016 to Suggestions
 Msg 16 - jancg (378) 96 months ago Jul 20, 2016 to Suggestions
 Msg 17 - yorbrick (1185) 96 months ago Jul 20, 2016 to Suggestions
 Msg 18 - ToriHada (8887) 96 months ago Jul 20, 2016 to Suggestions
 Msg 19 - Made_In_Bricks (3994) 96 months ago Jul 20, 2016 to Suggestions
 Msg 20 - FigBits (3563) 96 months ago Jul 20, 2016 to Suggestions
 Msg 21 - wildchicken13 (876) 43 months ago Nov 17, 2020 to Suggestions