  
| Author: | MidwestBrick  | | Posted: | Oct 1, 2018 10:33 | | Subject: | Re: 90-percentile as new average price ? | | Viewed: | 61 times | | Topic: | Suggestions | |
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| In Suggestions, Gaston.La.Brick writes:
| | | | I really don't think prices on Bricklink
are unfair at all considering all the work that goes into running a store.
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You are jumping to conclusions. I never said prices are unfair. I'm saying
the average calculation, although mathematically correct, is not a good indication
of what a piece is actually sold for most of the time.
Because that is what the average amount implies: the average price to which an
item is sold for most of the time.
For me, I use the average price to set my pricing. But currently it becomes unreliable,
when you have to verify how many items have been sold at a price that's not
realistic (or at least: that has something strange going on -- $1.00 for
a typicall $0.02 item, seems strange to me).
You are not for, because it would make the calculation less transparant. But
it doesn't have to be clear how it was calculated, as long as it's accurate.
It's like Google search engine: you don't need to know the algorithm
behind it, as long as the results are accurate (which they typically are).
Your remark about why not the middle 90p (so 5p-95p range), is valid but I'm
in doubt about that. It still is a seller/buyer market. So a low price actually
does mean a very solid competition that influences the seller/buyer market. This
in contrary to a very high price, which is not relevant for the seller/buyer
market.
The reason I wouldn't include the lowest 5p, I give you that, is to exclude
the sellers who price very low but add a ridiculously high fee per lot.
In the end, to me, it still feels the average price as a purely mathematical
average, is not very useful. You imply it's good for sellers, since the buyer
gets an (unrealistic) idea about the amount he should spend on the item. Unless
it's a smart seller that looks at other stuff than average amounts... (and
I think most of them do).
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A low price puts in all those sales where people are "selling out".
Overall, to each their own on pricing. I have my own methods which vary from
color to color, type to type and category to category, and use multiple buckets
to put items into rather than one. If I have a piece and want to sell it for
$1 when the market is $0.05 and it sells. That's a great business decision.
Price is only one factor of many when buyers choose your store.
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Message is in Reply To:  Re: 90-percentile as new average price ? - Gaston.La.Brick (1842) | [...] You are jumping to conclusions. I never said prices are unfair. I'm saying the average calculation, although mathematically correct, is not a good indication of what [...]
(69 months ago, Oct 1, 2018, to Suggestions) |
8 Messages in this Thread: Msg 1 - Gaston.La.Brick (1842) 69 months ago Oct 1, 2018 to Suggestions
 Msg 2 - Teup (6610) 69 months ago Oct 1, 2018 to Suggestions
 Msg 3 - Gaston.La.Brick (1842) 69 months ago Oct 1, 2018 to Suggestions
Msg 4 « - MidwestBrick (1855) 69 months ago Oct 1, 2018 to Suggestions
 Msg 5 - yorbrick (1185) 69 months ago Oct 1, 2018 to Suggestions
Msg 6 - Bricks_NW_UK (1367) 69 months ago Oct 1, 2018 to Suggestions
Msg 7 - Etown (1740) 69 months ago Oct 1, 2018 to Suggestions
Msg 8 - jx (13) 46 months ago Aug 12, 2020 to Suggestions
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USA, Wisconsin
