Learning to appreciate eBay (2)

The appreciation continues. My MR2 sold for $1700, which is a little more than what I would have asked for it in a “normal” sale, but without the hassle of haggling with people. Our water bed, which we were just going to toss out, brought us $76. A laptop bag netted $26, and a camera flash I didn’t use went for $117.

What I really like is how eBay is a beautiful microcosm of capitalism — a nearly perfect example of how laissez-faire should work.

Things sell for what the traffic will bear. Buyers compete with other buyers; sellers have to deal with competition. I you have something that a zillion other people have, well, you won’t get as much. If you have something rare you’ll get a lot more.

And the system is non only self policing, but self policing in a textbook-perfect way. What I mean is, if you’re a bad buyer or seller, eBay has a feedback system: the people you screw will give you black marks you can’t escape. Fear of negative feedback — and the possibility it will harm your business — keeps most folks in line.

It’s like a restaurant: If enough people complain about the food, word of mouth will kill your business. In this case, eBay has set up a system that makes it hard to escape your negative feedback. If you change user names, the system indicates it. Your reputation always proceeds you.

Thus when I put my car up, I took great pains to list everything that was wrong with it. Brutal honesty is my best defense against complaints. And if I go to bid on something, I obviously check the seller’s profile. Too many negatives and I walk.

So that’s my diatribe on the wonders of eBay. A capitalist proving ground that proves.