Industrial Revolution

I bought a business on April 1, 2005. I'll update the blog a few times a week to share some of my experiences.

Monday, June 13, 2005

Inefficient markets

The internet is, among other things, supposed to provide total transparency on pricing. In other words, it should be quite easy to find the lowest cost for a given item. Right.

Check out this ebay auction for an ice cream ball. As of this writing the bidding is at $41.00 and that comes with a tidy $12.55 shipping charge (at least to get it to my zip code). Since most sites are offering the ball for about $30 with about $6 for shipping, whoever "wins" this particular auction won't really be winning.

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