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Why do people put exorbitant price for used goods in olx/Mygate ? [Rant]

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rockhandsome

I am looking for a used kid cycle for my 4 years old nephew. So thought of buying used cycle for cheaper price, use it for few years and then sell it or throwaway.

So naturally went to olx and mygate sites, but people here have very high expectations for their used products, even for 5-6 years old cycle.

I saw one ad yesterday, where one guy has put 6 years old Bsa kids cycle for Rs 3100, which is available new for about Rs 3500 in amazon.

When I told him so, and offered about Rs 1200, he replied he already have an offer for Rs 2800 and then blocked me. I was like What!

There was another ad where user has put 6 years old decathlon kids cycle for Rs 4000, which comes new for Rs 6000. Even decathlon is selling same cycle refurbished for Rs 2800.

And these are not exceptions, most of ads are same. I want to understand what's the logic and thinking behind it. Don't they know, people have internet now?

Don't they know, even if unused, tyres/tubes start to decay after 5-6 years.

Rant end.

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Critic Critic
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They put exorbitant price because buyers offer ridiculous low prices for example i was selling a headphone (brand new, sealed pack). Market price is 5000, so i offered 3000. The buyer asked for 300. I said no. Then he asked for my mobile number. Then he never called back. I asked why have you taken for number if you don't want to buy? He said he can buy for 300.

So i think he put my number on some spammer bomber. Ridiculous buyers!

Critic Critic
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They put exorbitant price because buyers offer ridiculous low prices for example i was selling a headphone (brand new, sealed pack). Market price is 5000, so i offered 3000. The buyer asked for 300. I said no. Then he asked for my mobile number. Then he never called back. I asked why have you taken for number if you don't want to buy? He said he can buy for 300.

So i think he put my number on some spammer bomber. Ridiculous buyers!

Hunk Hunk
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The most unbelievable thing here is you shared your number, when he offered only ₹300 for ₹3000 product. And also were expecting the call back.

Now to your main point. ok I get it, they put high prices, when People offered them the correct prices even then they don't budget, just like It happened in my case.

Deal Subedar Deal Subedar
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We, Indians have no sense of depreciation.

When we pay for something, we always remember the price at which it was bought and expect  the same or slightly less if we do decide to sell it. If not, our brains tells us it's a loss.

This is a major reason.
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Critic Critic
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They put exorbitant price because buyers offer ridiculous low prices for example i was selling a headphone (brand new, sealed pack). Market price is 5000, so i offered 3000. The buyer asked for 300. I said no. Then he asked for my mobile number. Then he never called back. I asked why have you taken for number if you don't want to buy? He said he can buy for 300.

So i think he put my number on some spammer bomber. Ridiculous buyers!

Hunk Hunk
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The most unbelievable thing here is you shared your number, when he offered only ₹300 for ₹3000 product. And also were expecting the call back.

Now to your main point. ok I get it, they put high prices, when People offered them the correct prices even then they don't budget, just like It happened in my case.

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Generous Generous
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Personal experience as a seller.

1. Not all Buy messages are real buyers (always look for messages from people who created account atleast a year back)

2. I too intentionally put 20-30% extra while selling in OLX (reason they offer to buy at less than 50% on our selling price) but if u believe in the price at which u can sell then stay on ur sell price and dont decrease.
3. in few instances i observed people messaging from different account just to down the price. they ask for (suppose sell price mentioned is 12K) they ask fro 8K then 2 days after that 6K from different account and soo on.just to make us think that product is not its worth.
4. I block people often if they ask for less price coz it wont worth our time arguing abt price. (just tell them max discount u can give if they any other price, i just block them)

5. People actually feel product quality of new manufactured ones are less so they sell their old (better build quality at more price)

Deal Cadet Deal Cadet
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Don't they know, people have internet now?

I know someone... Who always found some dumb people to get the best price for his old mobiles and pc components

Hunk Hunk
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Share him my number, I have one big marble building in agra to sell.
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Deal Subedar Deal Subedar
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Peer to Peer is always like this:) to bargain better smile for the seller THEY QUOTE HIGHER PRICES LIKE 90% OF REAL PRICE :) you can't complain:)

It depends on buyers bargain Skill and the needs of the seller at their end:)

So peer to peer wont have generalized terms:) 

YOU CAN'T CHANGE THAT WITH YOUR RANT you can only wish to improve (which wont change anything though)

even you will do this same when you become seller there:) once you know how this works

Hunk Hunk
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bhai maine bhi olx pr bhut products sell kiye hai. pr aishi chindi chori nhi ki. I always put fixed price tag in my posts. 
I don't reply to low Ballers and get in convo with genuine users only. It's simple as that.


6 years old product ko agar current market price ke 80-90% pr daal rahe ho to you are just dumb.

Don't justify stupid.

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Deal Subedar Deal Subedar
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We, Indians have no sense of depreciation.

When we pay for something, we always remember the price at which it was bought and expect  the same or slightly less if we do decide to sell it. If not, our brains tells us it's a loss.

This is a major reason.
Deal Major Deal Major
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What is mygate

Hunk Hunk
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society app,

for entry, notifications, communications etc within society.

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Tech Guru Tech Guru
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How to do badmashi 1-2-3...

Finance Mentor Finance Mentor
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Ulti ginti sunao sabko 3-2-1...
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Deal Cadet Deal Cadet
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I have a counter argument for this.

It's not the seller, it's the buyer who has issue. Most buyers has no genuine interest in buying it. They just try their luck.

Most people lost the ability to negotiate the price in direct confrontation.

If I decide to buy something from olx, I simply ask seller address to visit and check in person. Based on the quality, I quote my price. The chances are very high, I get the product at the quoted price.


Deal Cadet Deal Cadet
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I do because of lowballers. When the interested start negotiating, I try to settle for a price around what I expect. I am trying to sell a 100 Ah battery I bought for ~₹10k 3 years ago. I have listed it for 7k but would let it go for ₹4.5k or above. My expectation is up to ₹6k for it. And people expect me to give it at ₹2k which even scrap guys would give. 

Generous Generous
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To have good scope for negotiation.

If the buyer is bad at negotiation, seller is happy.

If the buyer is good at negotiation, seller still gets what is deserved price.

So precisely the reasons @gischethans & @Demon_slayer mentioned. And all those sellers will settle at reasonable market price.

Deal Major Deal Major
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Some people start cribbing that they are students poor don't have much money to buy or parents not giving money

Benevolent Benevolent
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We are not responsible for them, their parents are. Cockroaches ki tarah itna bachhe nikaalne ka jaroorat hi kya hai. Itna bachha nikaalte rahenge to bachoon ko problem hoga hi hoga. 😦

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Cool Cool
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Simple word - Indian mentality

Finance Mentor Finance Mentor
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Aajkal indian kya hota hai? doosre mard ya aurat ke saath sona?... koi mentality na hai, sab jamna paar...
Benevolent Benevolent
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Lack of empathy & Chapri Mentality


Finance Mentor Finance Mentor
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Sab hai par, apne liye best deal maangta hai...
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Generous Generous
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Forget about online sellers. Even my friends act this way. My friend purchased a PC for 55k 2-2.5 yrs back. I told him it will be outdated when DDR5 platform becomes cheaper and he can't expect much if he sells it off. He said he doesn't mind and bought it. And now he doesn't use it at all. He wants to sell it for 45k when the reasonable expectation should be 20-25k. He doesn't budge below that and he is trying to sell it for a year now and he has no buyers. He doesn't understand everything on the last platform brand new now is almost at half price to what he bought back then due to progress in tech. But this is the Indian mindset. I got it at 1000rs, I will sell it for 950rs after 5 years. 

Finance Mentor Finance Mentor
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Arre, most people are like this that's why they don't suspect their partner and think they are getting 90-100%...LoL (chalta hai, to chalne do... par tum jaagte raho!)

Deal Captain Deal Captain
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It goes like

Ad posted-Scammers-Time wasters-genuine buyer

So we have to deal with many to find the right person.


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