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| | | Author: | KennoMonkey  | | Posted: | Mar 28, 2022 16:10 | | Subject: | Price guide | | Viewed: | 147 times | | Topic: | Catalog | | Status: | Open | |
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| I noticed sometimes a shop will have a greatly inflated price. This skews the
average. One simple way around this is to use the median price instead. It more
accurately portrays the state of the market. IMHO
Ken
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| | | | | Author: | 1001bricks | | Posted: | Mar 28, 2022 16:32 | | Subject: | Re: Price guide | | Viewed: | 85 times | | Topic: | Catalog | |
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| In Catalog, KennoMonkey writes:
| | I noticed sometimes a shop will have a greatly inflated price.
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Let me guess... a shop in Portugal?
| | This skews the average. One simple way around this is to use the median price instead. It more accurately portrays the state of the market. IMHO
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There has been millions of post about this "problem".
In short; people are allowed to set whatever price they wish: ridiculous or justified,
that's not the point.
No average system will satisfy/correct all the problems; what about the second
price which is also exaggerated, or the third? Where would you define "It's
abnormal"?
The price guide is just a guide, not a Bible or scientific data.
It doesn't reflect neither superlots features, taxes, fees and shipping prices.
You should use it, but also make your own decision on what you think is more
exact.
IMHO
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| | | | | | | Author: | legomalego | | Posted: | Mar 28, 2022 17:07 | | Subject: | Re: Price guide | | Viewed: | 64 times | | Topic: | Catalog | |
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| and with over 9800 feedback they seem to be getting the prices they are asking.
if we are talking about the same seller.
In Catalog, 1001bricks writes:
| | In Catalog, KennoMonkey writes:
| | I noticed sometimes a shop will have a greatly inflated price.
|
Let me guess... a shop in Portugal?
| | This skews the average. One simple way around this is to use the median price instead. It more accurately portrays the state of the market. IMHO
|
There has been millions of post about this "problem".
In short; people are allowed to set whatever price they wish: ridiculous or justified,
that's not the point.
No average system will satisfy/correct all the problems; what about the second
price which is also exaggerated, or the third? Where would you define "It's
abnormal"?
The price guide is just a guide, not a Bible or scientific data.
It doesn't reflect neither superlots features, taxes, fees and shipping prices.
You should use it, but also make your own decision on what you think is more
exact.
IMHO
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| | | | | | | | | Author: | 1001bricks | | Posted: | Mar 28, 2022 17:46 | | Subject: | Re: Price guide | | Viewed: | 67 times | | Topic: | Catalog | |
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| In Catalog, legomalego writes:
| | and with over 9800 feedback they seem to be getting the prices they are asking.
if we are talking about the same seller.
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Yep, this one. But he's not alone at this "game".
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| | | | | | | | | | | Author: | Adjour | | Posted: | Apr 4, 2022 15:45 | | Subject: | Re: Price guide | | Viewed: | 47 times | | Topic: | Catalog | |
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| In Catalog, 1001bricks writes:
| | In Catalog, legomalego writes:
| | and with over 9800 feedback they seem to be getting the prices they are asking.
if we are talking about the same seller.
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Yep, this one. But he's not alone at this "game".
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Its a brilliant business model if you ask me. I personally emulate it.
Variety FTW
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| | | | | | | | | | | | | Author: | 1001bricks | | Posted: | Apr 4, 2022 17:00 | | Subject: | Re: Price guide | | Viewed: | 51 times | | Topic: | Catalog | |
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| In Catalog, Adjour writes:
| | In Catalog, 1001bricks writes:
| | In Catalog, legomalego writes:
| | and with over 9800 feedback they seem to be getting the prices they are asking.
if we are talking about the same seller.
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Yep, this one. But he's not alone at this "game".
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Its a brilliant business model if you ask me. I personally emulate it.
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Brilliant - I'm not sure - or to be more precise I'm sure it's not.
But this is far too complicated and depends the inventory, its cost and value,
the country, the clients, your official status (here it's heavy to
be Pro in Europe), your taxes obligations, etc.
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| | | | | | | Author: | KennoMonkey | | Posted: | Mar 30, 2022 19:58 | | Subject: | Re: Price guide | | Viewed: | 45 times | | Topic: | Catalog | |
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| I’m not complaining about the high prices. It’s just that a few of them skews
the statistics. The average doesn’t accurately reflect the state of the market.
You don’t need a cutoff, just take the median price. That’s the one in the middle
where half are above and half are below. It’s how they often report housing prices
and salary information. So you can get an accurate picture of what to expect.
In Catalog, 1001bricks writes:
| | In Catalog, KennoMonkey writes:
| | I noticed sometimes a shop will have a greatly inflated price.
|
Let me guess... a shop in Portugal?
| | This skews the average. One simple way around this is to use the median price instead. It more accurately portrays the state of the market. IMHO
|
There has been millions of post about this "problem".
In short; people are allowed to set whatever price they wish: ridiculous or justified,
that's not the point.
No average system will satisfy/correct all the problems; what about the second
price which is also exaggerated, or the third? Where would you define "It's
abnormal"?
The price guide is just a guide, not a Bible or scientific data.
It doesn't reflect neither superlots features, taxes, fees and shipping prices.
You should use it, but also make your own decision on what you think is more
exact.
IMHO
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| | | | | | | | | Author: | KennoMonkey | | Posted: | Mar 30, 2022 20:04 | | Subject: | Re: Price guide | | Viewed: | 29 times | | Topic: | Catalog | |
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| Also, I’m not finding any posts that discuss this problem. Maybe you are referring
to the “problem” of ridiculous prices, which is really jut tangential to this
discussion.
In Catalog, KennoMonkey writes:
| | I’m not complaining about the high prices. It’s just that a few of them skews
the statistics. The average doesn’t accurately reflect the state of the market.
You don’t need a cutoff, just take the median price. That’s the one in the middle
where half are above and half are below. It’s how they often report housing prices
and salary information. So you can get an accurate picture of what to expect.
In Catalog, 1001bricks writes:
| | In Catalog, KennoMonkey writes:
| | I noticed sometimes a shop will have a greatly inflated price.
|
Let me guess... a shop in Portugal?
| | This skews the average. One simple way around this is to use the median price instead. It more accurately portrays the state of the market. IMHO
|
There has been millions of post about this "problem".
In short; people are allowed to set whatever price they wish: ridiculous or justified,
that's not the point.
No average system will satisfy/correct all the problems; what about the second
price which is also exaggerated, or the third? Where would you define "It's
abnormal"?
The price guide is just a guide, not a Bible or scientific data.
It doesn't reflect neither superlots features, taxes, fees and shipping prices.
You should use it, but also make your own decision on what you think is more
exact.
IMHO
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| | | | | | | | | | | Author: | 1001bricks | | Posted: | Mar 30, 2022 20:35 | | Subject: | Re: Price guide | | Viewed: | 48 times | | Topic: | Catalog | |
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| In Catalog, KennoMonkey writes:
| | Also, I’m not finding any posts that discuss this problem. Maybe you are referring
to the “problem” of ridiculous prices, which is really jut tangential to this
discussion.
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Sorry, I've 16 years of BL experience, and forum.
There has been TONS of discussions (fights) about this.
Messages probably don't exist anymore.
And if I remember well: the problem isn't a problem as soon as you decide
the average doesn't mean anything.
Price guide gives you some information.
You have to decode this information, use it or not, or differently.
There's no way price guide could give you an "accurate view" of the
market.
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| | | | | | | | | | | | | Author: | KennoMonkey | | Posted: | Mar 31, 2022 12:49 | | Subject: | Re: Price guide | | Viewed: | 30 times | | Topic: | Catalog | |
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| All good points. I am schooled. The points you make about experience really went
to heart. I will definitely consider that in the future. So much knowledge here.
Amazing the job you do. Thank you!!
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| | | | | | | | | Author: | 1001bricks | | Posted: | Mar 30, 2022 20:30 | | Subject: | Re: Price guide | | Viewed: | 39 times | | Topic: | Catalog | |
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| In Catalog, KennoMonkey writes:
| | I’m not complaining about the high prices. It’s just that a few of them skews
the statistics. The average doesn’t accurately reflect the state of the market.
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There is nothing existing that can "accurately reflect the state of the market".
Median is another solution, but with other defaults.
Problem is, also: half a million users (and softwares) use the ("brutal") average
price.
You wish to change this?
Maybe, probably - but I think it'd need a 300 PDF page report with mathematical
formulas and studies - in short, a documented scientifical approach, instead
of the private "median is better" assertion, sorry 
And, again - you shouldn't care of the average or median of the price guide.
That's the main point!
It gives you an hint, but you have to decide by yourself (or on whatever formula
or wet finger solution you develop).
Just like meteo: if they say "it doesn't rain tomorrow", but if for you it
seems to going to rain, take the freaking umbrella 
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| | | | | | | | | Author: | yorbrick | | Posted: | Mar 31, 2022 13:25 | | Subject: | Re: Price guide | | Viewed: | 36 times | | Topic: | Catalog | |
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| In Catalog, KennoMonkey writes:
| | I’m not complaining about the high prices. It’s just that a few of them skews
the statistics. The average doesn’t accurately reflect the state of the market.
You don’t need a cutoff, just take the median price. That’s the one in the middle
where half are above and half are below. It’s how they often report housing prices
and salary information. So you can get an accurate picture of what to expect.
|
How do you define the median here though? On BL it is not as simple as house
prices or salaries, where each transaction for a house is separate and each person
has one salary. Do you got for the median of each lot price regardless of items
in the lot, or the median of the total items listed, or the median of the mean
price of the item per seller or the median of the median price per seller, etc.
Is it each lot that counts once, or each item, or each seller?
As sellers can have more than one item per lot, and more than one lot of each
catalogue item, they can all be manipulated if a seller wants to.
Of course, similar manipulations are also possible with means too. Which is a
good reason to look at sold prices rather than for sale prices.
For example, a seller can list 100 items in one lot - is that 1 count or 100?
What if they list 10 lots of 10, or 100 lots of 1 item?
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| | | | | | | | | | | Author: | SylvainLS | | Posted: | Mar 31, 2022 13:49 | | Subject: | Re: Price guide | | Viewed: | 31 times | | Topic: | Catalog | |
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| In Catalog, yorbrick writes:
| | […]
For example, a seller can list 100 items in one lot - is that 1 count or 100?
What if they list 10 lots of 10, or 100 lots of 1 item?
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That made me think about bulk lots. When you have to buy 10 but want one or
two.
How should you count these lots? Or should they not count at all… unless they
are cheaper than buying only one or two?
That works for selling too: Why would you consider bulk lots if you don’t intend
(or can’t) sell them that way too? They are not your competitors: buyers who
want less won’t buy there… unless they are cheaper.
So the data should change according to whether it’s buying or selling, how many
parts you buy/sell, how many parts buyers will want to buy from you….
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| | | | | | | | | | | | | Author: | yorbrick | | Posted: | Mar 31, 2022 13:57 | | Subject: | Re: Price guide | | Viewed: | 34 times | | Topic: | Catalog | |
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| In Catalog, SylvainLS writes:
| | In Catalog, yorbrick writes:
| | […]
For example, a seller can list 100 items in one lot - is that 1 count or 100?
What if they list 10 lots of 10, or 100 lots of 1 item?
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That made me think about bulk lots. When you have to buy 10 but want one or
two.
How should you count these lots? Or should they not count at all… unless they
are cheaper than buying only one or two?
That works for selling too: Why would you consider bulk lots if you don’t intend
(or can’t) sell them that way too? They are not your competitors: buyers who
want less won’t buy there… unless they are cheaper.
So the data should change according to whether it’s buying or selling, how many
parts you buy/sell, how many parts buyers will want to buy from you….
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Yes, it gets very complicated. There are even multiple ways of doing bulk such
as if the seller sells only in batches of (X) or uses tiered pricing to give
discounts on bulk purchases.
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| | | | | | | | | | | | | | | Author: | SylvainLS | | Posted: | Mar 31, 2022 14:04 | | Subject: | Re: Price guide | | Viewed: | 40 times | | Topic: | Catalog | |
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| In Catalog, yorbrick writes:
| | […]
Yes, it gets very complicated. There are even multiple ways of doing bulk such
as if the seller sells only in batches of (X) or uses tiered pricing to give
discounts on bulk purchases.
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Oh yeah, those too.
And taxes, fees, shipping, limits….
It’s almost as if there’s no two sellers alike and really comparable
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| | | | | Author: | skvely | | Posted: | Apr 4, 2022 15:33 | | Subject: | Re: Price guide | | Viewed: | 45 times | | Topic: | Catalog | |
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| In Catalog, KennoMonkey writes:
| | I noticed sometimes a shop will have a greatly inflated price. This skews the
average. One simple way around this is to use the median price instead. It more
accurately portrays the state of the market. IMHO
Ken
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I made a browser extension that does this: https://chrome.google.com/webstore/detail/bricktinker/pikfjcohcfpohlckdhdggpcpfdkekomf
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USA, Colorado
France, Provence-Alpes-Côte d'Azur
Canada, Ontario
United Kingdom, England
