See, this is exactly what I am talking about. While searching for Lego storage, I found this little gem.
Take a look. Not bad in concept, it is the closest thing I could find to what I was looking for. Nice red color, at least partly wooden, has segmented trays that come out. Great. Now, look at the price. But put down any beverages first.
Lego Storage
I snorted when I saw it too. Are the drawers lined with gold? Does it come with the elusive diamond and ruby Legos? Now surely, no one would purchase this item for that price. But wait! Glancing over the 2 reviews (I love Amazon reviews) you will see that the people like it but grumble about the size (too small) and of course the price. Apparently not enough to keep one of them from buying a second unit though! Seriously. That person spent $800 on Lego storage. I vow to that person, if you ever read this, for $800 I will personally come to your house, follow your child around, and sort all his Legos myself.
This is when I realized 2 things:
#1. Truly, the seller of this wooden red box is a genius. Unlike all those other suckers out there who would have to sell dozens of these products to turn that much profit, you can tell he decided to only have a few and thought to himself, I can just sell them for $400. Scoffing at any Econ 101 rules of pricing, he boldly made up a price...out of nowhere. And it worked. My hat is off to you.
#2. Genuinely good toy storage is wide open for some competition, my friends.
Showing posts with label price gouging. Show all posts
Showing posts with label price gouging. Show all posts
Wednesday, January 20, 2010
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