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| | | Author: | Brick_Qc  | | Posted: | Dec 29, 2020 13:08 | | Subject: | Option of "median" price instead of average | | Viewed: | 197 times | | Topic: | Suggestions | | Status: | Open | | Vote: | [Yes|No] | |
|
| Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
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| | | | | Author: | Cob | | Posted: | Dec 29, 2020 13:13 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 54 times | | Topic: | Suggestions | |
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| In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
|
BrickTinker has this option
https://www.bricklink.com/message.asp?ID=1212804
https://www.bricklink.com/message.asp?ID=1237255
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| | | | | Author: | 0to60 | | Posted: | Dec 29, 2020 13:54 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 51 times | | Topic: | Suggestions | |
|
| In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
|
I'm confused how sellers destroy the sale price with sky high prices? Shouldn't
the sales price reflect what people are willing to pay? If pieces are selling
at sky high prices than that is what they are worth!
|
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| | | | | | | Author: | SylvainLS | | Posted: | Dec 29, 2020 14:06 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 53 times | | Topic: | Suggestions | |
|
| In Suggestions, mike1burns writes:
| | In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
|
I'm confused how sellers destroy the sale price with sky high prices? Shouldn't
the sales price reflect what people are willing to pay? If pieces are selling
at sky high prices than that is what they are worth!
|
There’s “for sale” and there’s “sold.” “Sold” is the market price. “For sale”
is wishes.
Why would a seller align their wishes on other sellers’ wishes and not on the
reality of market is the question.
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| | | | | | | | | Author: | randyipp | | Posted: | Dec 29, 2020 14:15 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 46 times | | Topic: | Suggestions | |
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| In Suggestions, SylvainLS writes:
| | There’s “for sale” and there’s “sold.” “Sold” is the market price. “For sale”
is wishes.
Why would a seller align their wishes on other sellers’ wishes and not on the
reality of market is the question.
|
I think sometimes it makes sense to offer items based upon current average depending
on how scarce it is. Although personally I think trying to sell at current
average across the board is a bad idea.
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| | | | | | | | | Author: | zorbanj | | Posted: | Dec 29, 2020 14:54 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 38 times | | Topic: | Suggestions | |
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| The seller may set the price high because they expect the lower priced offerings
to clear out in the near future but doesn't want to keep checking up on it.
In Suggestions, SylvainLS writes:
| |
There’s “for sale” and there’s “sold.” “Sold” is the market price. “For sale”
is wishes.
Why would a seller align their wishes on other sellers’ wishes and not on the
reality of market is the question.
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| | | | | | | | | Author: | 0to60 | | Posted: | Dec 29, 2020 15:02 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 27 times | | Topic: | Suggestions | |
|
| In Suggestions, SylvainLS writes:
| | In Suggestions, mike1burns writes:
| | In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
|
I'm confused how sellers destroy the sale price with sky high prices? Shouldn't
the sales price reflect what people are willing to pay? If pieces are selling
at sky high prices than that is what they are worth!
|
There’s “for sale” and there’s “sold.” “Sold” is the market price. “For sale”
is wishes.
Why would a seller align their wishes on other sellers’ wishes and not on the
reality of market is the question.
|
I assumed the author of the original post was talking about sold listings
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| | | | | | | | | Author: | Teup | | Posted: | Dec 29, 2020 15:19 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 35 times | | Topic: | Suggestions | |
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| In Suggestions, SylvainLS writes:
| | In Suggestions, mike1burns writes:
| | In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
|
I'm confused how sellers destroy the sale price with sky high prices? Shouldn't
the sales price reflect what people are willing to pay? If pieces are selling
at sky high prices than that is what they are worth!
|
There’s “for sale” and there’s “sold.” “Sold” is the market price. “For sale”
is wishes.
Why would a seller align their wishes on other sellers’ wishes and not on the
reality of market is the question.
|
Well, demand vs wish is one way to look at those, but past vs current is another
dimension to it. Many parts increase in value over time, and also, the ones that
are sold are not necessarily *at* the "true value", those were often the cherries
and what is currently left is the current average. No need to compete with products
that have existed in the past, it's the current market you need to position
yourself in - hence the current average is useful.
I get your point and it's one way of looking at it, but well, there's
more to it. I'm always using current average and it works for me.
As for the OPs suggestion: On the one hand yes, it is clear how that would elimiate
a skewing factor. However, Bricklink is a system built out of imperfections.
While crazy prices are a skewing things up, there's other factors skewing
things down, such as inaccurate Brickstock prices, historic prices that have
increased since (which if too low resulted in immediate sales), stores with crazy
fees or high import duties that were not recorded.
So, in the context of it all, I'd say, let it be. But yes, in a perfect world
we'd have some sort of median price together with eliminating all the other
skewing factors. But I rather have skewing factors both ways than eliminating
only one direction.. (and median prices are going to eliminate only the up skewing
as those are outside the mean - the factors skewing things down, as far as I
can see, are more subtle and hence not eliminated by the median)
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| | | | | | | Author: | randyipp | | Posted: | Dec 29, 2020 14:12 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 47 times | | Topic: | Suggestions | |
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| In Suggestions, mike1burns writes:
| | I'm confused how sellers destroy the sale price with sky high prices? Shouldn't
the sales price reflect what people are willing to pay? If pieces are selling
at sky high prices than that is what they are worth!
|
Not 6 months sales average, current inventory average. Some people like to use
current inventory prices instead of historical sales figures.
Someone offering for sale ava005 for $98 (which is probably used) doesn't
mean it is worth that.
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| | | | | | | | | Author: | starbeanie | | Posted: | Dec 29, 2020 14:40 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 42 times | | Topic: | Suggestions | |
|
| there are 14 for sale new. The cheapest is $59.90 (and one just sold at that)
and the most expensive is $122.20 . $98 is not ridiculous.
In Suggestions, randyipp writes:
| | In Suggestions, mike1burns writes:
| | I'm confused how sellers destroy the sale price with sky high prices? Shouldn't
the sales price reflect what people are willing to pay? If pieces are selling
at sky high prices than that is what they are worth!
|
Not 6 months sales average, current inventory average. Some people like to use
current inventory prices instead of historical sales figures.
Someone offering for sale ava005 for $98 (which is probably used) doesn't
mean it is worth that.
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| | | | | | | | | | | Author: | randyipp | | Posted: | Dec 29, 2020 14:51 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 33 times | | Topic: | Suggestions | |
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| In Suggestions, starbeanie writes:
| | there are 14 for sale new. The cheapest is $59.90 (and one just sold at that)
and the most expensive is $122.20 . $98 is not ridiculous.
|
The one listed for $122.20 is one of the worst price guide offenders on the entire
site, I do not agree with you at all.
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| | | | | | | | | | | | | Author: | zorbanj | | Posted: | Dec 29, 2020 15:01 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 23 times | | Topic: | Suggestions | |
|
| Starbeanie is right, IF you're willing to wait. 6 month data shows that an
ava005 sold in August for $40. There's a sale in November for $59.90. If
you filter by currency there's 2 new ones left for ~ $60 plus the $98 one.
I think it will sell for the $98 in the next 6 months.
In Suggestions, randyipp writes:
| | In Suggestions, starbeanie writes:
| | there are 14 for sale new. The cheapest is $59.90 (and one just sold at that)
and the most expensive is $122.20 . $98 is not ridiculous.
|
The one listed for $122.20 is one of the worst price guide offenders on the entire
site, I do not agree with you at all.
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| | | | | | | | | | | | | | | Author: | randyipp | | Posted: | Dec 29, 2020 15:47 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 40 times | | Topic: | Suggestions | |
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| In Suggestions, zorbanj writes:
| | Starbeanie is right, IF you're willing to wait. 6 month data shows that an
ava005 sold in August for $40. There's a sale in November for $59.90. If
you filter by currency there's 2 new ones left for ~ $60 plus the $98 one.
I think it will sell for the $98 in the next 6 months.
|
Are you suggesting that none will be listed in the next 6 months?
It's not right or wrong, it's just opinion, and sometimes speculation.
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| | | | | | | | | | | | | | | | | Author: | Tracyd | | Posted: | Dec 29, 2020 16:39 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 41 times | | Topic: | Suggestions | |
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| In Suggestions, randyipp writes:
| | In Suggestions, zorbanj writes:
| | Starbeanie is right, IF you're willing to wait. 6 month data shows that an
ava005 sold in August for $40. There's a sale in November for $59.90. If
you filter by currency there's 2 new ones left for ~ $60 plus the $98 one.
I think it will sell for the $98 in the next 6 months.
|
Are you suggesting that none will be listed in the next 6 months?
It's not right or wrong, it's just opinion, and sometimes speculation.
|
If I can get $100 ea for them I might list my 3. Thou I could wait for them
to go up more. All new removed from sealed set and put away as there isn't
much use for them. Wish the other figures were worth as much.
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| | | | | | | | | | | | | | | | | Author: | zorbanj | | Posted: | Dec 29, 2020 18:18 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 35 times | | Topic: | Suggestions | |
|
| No, I just think starbeanie is right based on what's listed right now. If
I had one I would list it for $98 without hesitation. If I checked back in a
month and 10 more new ones were up for sale I would reconsider.
In Suggestions, randyipp writes:
| | In Suggestions, zorbanj writes:
| | Starbeanie is right, IF you're willing to wait. 6 month data shows that an
ava005 sold in August for $40. There's a sale in November for $59.90. If
you filter by currency there's 2 new ones left for ~ $60 plus the $98 one.
I think it will sell for the $98 in the next 6 months.
|
Are you suggesting that none will be listed in the next 6 months?
It's not right or wrong, it's just opinion, and sometimes speculation.
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| | | | | | | | | | | | | Author: | Stellar | | Posted: | Dec 29, 2020 15:15 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 23 times | | Topic: | Suggestions | |
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| In Suggestions, randyipp writes:
| | In Suggestions, starbeanie writes:
| | there are 14 for sale new. The cheapest is $59.90 (and one just sold at that)
and the most expensive is $122.20 . $98 is not ridiculous.
|
The one listed for $122.20 is one of the worst price guide offenders on the entire
site, I do not agree with you at all.
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It is a strange Store, I thought to sell in BL you had to have the stock.
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| | | | | | | | | Author: | yorbrick | | Posted: | Dec 29, 2020 18:14 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 26 times | | Topic: | Suggestions | |
|
| In Suggestions, randyipp writes:
| | In Suggestions, mike1burns writes:
| | I'm confused how sellers destroy the sale price with sky high prices? Shouldn't
the sales price reflect what people are willing to pay? If pieces are selling
at sky high prices than that is what they are worth!
|
Not 6 months sales average, current inventory average. Some people like to use
current inventory prices instead of historical sales figures.
Someone offering for sale ava005 for $98 (which is probably used) doesn't
mean it is worth that.
|
If the median was used, the current median price would be higher than the mean
for that figure.
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| | | | | Author: | zorbanj | | Posted: | Dec 29, 2020 14:50 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 43 times | | Topic: | Suggestions | |
|
| Which sale price average are you referring to? If it's the sales price average
of actual sales, the sale occurred so why wouldn't they be included?
If it's the sales price average of items that are up for sale, why would
you "kick them out or change the rules"? How would that even work logistically?
A seller can list at whatever price they want.
In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
|
|
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|
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| | | | | | | Author: | Brick_Qc | | Posted: | Dec 29, 2020 20:56 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 27 times | | Topic: | Suggestions | |
|
| In Suggestions, zorbanj writes:
| | Which sale price average are you referring to? If it's the sales price average
of actual sales, the sale occurred so why wouldn't they be included?
If it's the sales price average of items that are up for sale, why would
you "kick them out or change the rules"? How would that even work logistically?
A seller can list at whatever price they want.
|
It's the on sale average.
The rest was half-humor...
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| | | | | Author: | peregrinator | | Posted: | Dec 29, 2020 15:42 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 28 times | | Topic: | Suggestions | |
|
| In Suggestions, Brick_Qc writes:
| | A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
|
I'm not so sure a median would be easy to code, but I agree that it would
be a worthy addition. Also, what you've described is not quite a median.
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| | | | | Author: | wildchicken13 | | Posted: | Dec 29, 2020 18:45 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 44 times | | Topic: | Suggestions | |
|
| In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
|
Ideally, one would like both to be displayed simultaneously. That way, it is
easy to detect when there are outliers—when the mean and median differ significantly.
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| | | | | | | Author: | Brick_Qc | | Posted: | Dec 29, 2020 20:58 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 28 times | | Topic: | Suggestions | |
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| | | Ideally, one would like both to be displayed simultaneously. That way, it is
easy to detect when there are outliers—when the mean and median differ significantly.
|
Exactly, just to have the choice of the tool each of us prefers.
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| | | | | Author: | CPgolfaddict | | Posted: | Dec 30, 2020 18:23 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 31 times | | Topic: | Suggestions | |
|
| The price "guide" is exactly what it advertises to be. A listing of actual sales
transactions by date & amount, what is currently for sale and at what price.
Issues arise with how a seller chooses to use the guide when setting prices.
If you choose to set an item price based on one of the available avg. statistics
to calculate your price, that is your choice. You are not required to set your
prices this way.
That said a median price might be useful. But a median does not remove the high
and low, it is simply the middle. If there are 3 of an item for sale with prices:
$0.01, $99.00, $100.00 the median is $99.00. It would also be easy to manipulate
for rare items.
In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
|
|
|
|
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| | | | | | | Author: | wildchicken13 | | Posted: | Dec 30, 2020 22:31 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 27 times | | Topic: | Suggestions | |
|
| In Suggestions, CPgolfaddict writes:
| | The price "guide" is exactly what it advertises to be. A listing of actual sales
transactions by date & amount, what is currently for sale and at what price.
Issues arise with how a seller chooses to use the guide when setting prices.
If you choose to set an item price based on one of the available avg. statistics
to calculate your price, that is your choice. You are not required to set your
prices this way.
That said a median price might be useful. But a median does not remove the high
and low, it is simply the middle. If there are 3 of an item for sale with prices:
$0.01, $99.00, $100.00 the median is $99.00. It would also be easy to manipulate
for rare items.
|
True, the median doesn't perform so well when there is not much data (new/rare
items). However, in general, the median is much less susceptible to outliers
than the mean. In your example, $0.01 is the outlier; $99 would is much closer
to the price of the majority of the items for sale (in this case only two). The
mean would be $66.34 which is much lower. See what I mean?
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| | | | | | | | | Author: | CPgolfaddict | | Posted: | Dec 30, 2020 23:49 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 26 times | | Topic: | Suggestions | |
|
| The median might help. But don't expect a magic bullet for setting prices
by formula.
The issue, in my opinion, is not the averages themselves. But seller's expectations
of sales results when setting their own prices by using a single method across
multiple lots.
I make my decisions on my pricing. The results that come after....that is on
me. I have my own approach or course. But I know that I will over price some
lots and under price some others. I try to minimize it, but it is going to happen
no matter what approach I use.
In Suggestions, wildchicken13 writes:
| | In Suggestions, CPgolfaddict writes:
| | The price "guide" is exactly what it advertises to be. A listing of actual sales
transactions by date & amount, what is currently for sale and at what price.
Issues arise with how a seller chooses to use the guide when setting prices.
If you choose to set an item price based on one of the available avg. statistics
to calculate your price, that is your choice. You are not required to set your
prices this way.
That said a median price might be useful. But a median does not remove the high
and low, it is simply the middle. If there are 3 of an item for sale with prices:
$0.01, $99.00, $100.00 the median is $99.00. It would also be easy to manipulate
for rare items.
|
True, the median doesn't perform so well when there is not much data (new/rare
items). However, in general, the median is much less susceptible to outliers
than the mean. In your example, $0.01 is the outlier; $99 would is much closer
to the price of the majority of the items for sale (in this case only two). The
mean would be $66.34 which is much lower. See what I mean?
|
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| | | | | | | | | | | Author: | wildchicken13 | | Posted: | Dec 31, 2020 00:36 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 26 times | | Topic: | Suggestions | |
|
| In Suggestions, CPgolfaddict writes:
| | The median might help. But don't expect a magic bullet for setting prices
by formula.
The issue, in my opinion, is not the averages themselves. But seller's expectations
of sales results when setting their own prices by using a single method across
multiple lots.
I make my decisions on my pricing. The results that come after....that is on
me. I have my own approach or course. But I know that I will over price some
lots and under price some others. I try to minimize it, but it is going to happen
no matter what approach I use.
|
There really is no right answer when it comes to pricing items for sale on BrickLink.
The "right price" is whatever the buyer is willing to pay. Looking at the last
six months sales data for some items, there is a huge variance in what buyers
will pay. So, save for the extremes, there is really no such thing as "overpricing"
or "underpricing" items. As you say, the price guide is just that—a guide.
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| | | | | | | Author: | legoman77 | | Posted: | Dec 31, 2020 01:12 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 30 times | | Topic: | Suggestions | |
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| In Suggestions, CPgolfaddict writes:
| | The price "guide" is exactly what it advertises to be. A listing of actual sales
transactions by date & amount, what is currently for sale and at what price.
Issues arise with how a seller chooses to use the guide when setting prices.
If you choose to set an item price based on one of the available avg. statistics
to calculate your price, that is your choice. You are not required to set your
prices this way.
That said a median price might be useful. But a median does not remove the high
and low, it is simply the middle. If there are 3 of an item for sale with prices:
$0.01, $99.00, $100.00 the median is $99.00. It would also be easy to manipulate
for rare items.
In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
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|
Why not use this formula? It is much easier to figure out
John P
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| | | | | | | | | Author: | wildchicken13 | | Posted: | Dec 31, 2020 01:14 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 30 times | | Topic: | Suggestions | |
|
| In Suggestions, legoman77 writes:
| | In Suggestions, CPgolfaddict writes:
| | The price "guide" is exactly what it advertises to be. A listing of actual sales
transactions by date & amount, what is currently for sale and at what price.
Issues arise with how a seller chooses to use the guide when setting prices.
If you choose to set an item price based on one of the available avg. statistics
to calculate your price, that is your choice. You are not required to set your
prices this way.
That said a median price might be useful. But a median does not remove the high
and low, it is simply the middle. If there are 3 of an item for sale with prices:
$0.01, $99.00, $100.00 the median is $99.00. It would also be easy to manipulate
for rare items.
In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
|
|
Why not use this formula? It is much easier to figure out
John P
|
Fermat's Last Theorem
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| | | | | | | | | | | Author: | legoman77 | | Posted: | Dec 31, 2020 02:13 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 36 times | | Topic: | Suggestions | |
|
| In Suggestions, wildchicken13 writes:
| | In Suggestions, legoman77 writes:
| | In Suggestions, CPgolfaddict writes:
| | The price "guide" is exactly what it advertises to be. A listing of actual sales
transactions by date & amount, what is currently for sale and at what price.
Issues arise with how a seller chooses to use the guide when setting prices.
If you choose to set an item price based on one of the available avg. statistics
to calculate your price, that is your choice. You are not required to set your
prices this way.
That said a median price might be useful. But a median does not remove the high
and low, it is simply the middle. If there are 3 of an item for sale with prices:
$0.01, $99.00, $100.00 the median is $99.00. It would also be easy to manipulate
for rare items.
In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
|
|
Why not use this formula? It is much easier to figure out
John P
|
Fermat's Last Theorem
|
No, Bricklinks way of determining everything.
(of course you are correct)
John P
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| | | | | | | | | | | Author: | legoman77 | | Posted: | Dec 31, 2020 02:15 | | Subject: | Re: Option of "median" price instead of average | | Viewed: | 43 times | | Topic: | Suggestions | |
|
| In Suggestions, wildchicken13 writes:
| | In Suggestions, legoman77 writes:
| | In Suggestions, CPgolfaddict writes:
| | The price "guide" is exactly what it advertises to be. A listing of actual sales
transactions by date & amount, what is currently for sale and at what price.
Issues arise with how a seller chooses to use the guide when setting prices.
If you choose to set an item price based on one of the available avg. statistics
to calculate your price, that is your choice. You are not required to set your
prices this way.
That said a median price might be useful. But a median does not remove the high
and low, it is simply the middle. If there are 3 of an item for sale with prices:
$0.01, $99.00, $100.00 the median is $99.00. It would also be easy to manipulate
for rare items.
In Suggestions, Brick_Qc writes:
| | Hi, I don't know about you, but I'm mad about those sellers that destroy
the sale price average with sky high prices.
Easy remedy, kick them out or change the rules. But since that won't happen,
I thought of something else, a median price in the price guide.
A median price average removes the higher and lower values and gives a more realistic
or typical price for an item.
We could have and option between average or median, or have the two displayed
in the price guide. I think it should be pretty easy to code and add to Bricklink.
And a much needed improvement.
Any thoughts ?
|
|
Why not use this formula? It is much easier to figure out
John P
|
Fermat's Last Theorem
|
I just thought of a question. What was Fermat's first theorem?
John P
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