PC friday question of the day.

[CountValentine]

You cant take a bus?

I was just pointing out gas was cover under price gouging laws. Most of you are to young to remember when this happened. 

[aygart]

You mean like buying something from a little old lady because she doesn't know the price of it. Yes that is 100% greed.

How is that a market price?

[yitzgar]

...and gas is one of them. 

Straw man

[CountValentine]

How is that a market price?

Only offer she got. Slow market. 

[CountValentine]

Straw man

No it is a fact I was pointing out. I know most here do not like facts.

[yitzgar]

No it is a fact I was pointing out. I know most here do not like facts.

Correct. It is a fact, but unrelated, because they are not selling gas. They are selling coupons for gas.

[CountValentine]

Correct. It is a fact, but unrelated, because they are not selling gas. They are selling coupons for gas.

That's a good one. Now let me tell you a true story about price gauging ( just for you  ).
There were was gas station selling rabbits foot for $5 each. With each purchase you received one free gallon of gas. They tried to say they were not selling gas (price gouging) either but it didn't work.

[whYME]

and how can something be called price gauging if its less that what it costs on the street .
price gauging has absolutely nothing to do with the sellers profit margins

[Yonah]

Does market value of an item equal fair value? What say you.

What defines fair value?

If I buy a case of 16-oz water bottles at the super market, I might pay $0.50 for them, if I buy only 1 at a bodega it costs $1, and at a ball game it costs $5. Given the situations, can I say that charging $5 for a bottle is not fair value?

If best buy marks up the cost of something 20% over amazon, is that unfair, or is it fair considering that the overhead for best buy to get it and stock it in a retail store is baked into the price?

[CountValentine]

What defines fair value?

I am asking the questions. 

[aygart]

Only offer she got. Slow market. 

If it isa an item that nobody is interested in then what is making it a lower price than market?

[whYME]

Given the situations, can I say that charging $5 for a bottle is not fair value?

I think a situation where one person/company is controlling the entire market and jacks up the prices is basically textbook definition of price gouging.

[CountValentine]

If it isa an item that nobody is interested in then what is making it a lower price than market?

She doesn't know any better.

[CountValentine]

I think a situation where one person/company is controlling the entire market and jacks up the prices is basically textbook definition of price gouging.

Or a group.
Can you say price fixing? 

[Yonah]

I think a situation where one person/company is controlling the entire market and jacks up the prices is basically textbook definition of price gouging.

To be fair - that company is also paying a hefty sum to be in that position.  Not to go OT, I love how the Kosher hot dogs are 0.25 more than the non-kosher ones - we have to have the same price, but a slightly higher one so that gentiles won't be tempted to buy up our stock.

[CountValentine]

...we have to have the same price, but a slightly higher one so that gentiles won't be tempted to buy up our stock.

I only buy Hebrew National beef franks. 

[zh cohen]

If it isa an item that nobody is interested in then what is making it a lower price than market?

It seems like @CountValentine is referring to a situation where others are interested and would pay more, but she doesn't know that, and they don't know that she has the item.

Seems to be a classic case of אונאת ממון

[aygart]

It seems like @CountValentine is referring to a situation where others are interested and would pay more, but she doesn't know that, and they don't know that she has the item.

Seems to be a classic case of אונאת ממון

In that case it is not relevant to the original question which was whether a market price is a fair price. What is happening here is that she is being tricked into accepting below market.

[yitzgar]

I think this topic should have its own board

[Yehuda57]

Wouldn't market price by definition be the most "fair" value?