Doing this assignment on ebay was my first time bidding for something on ebay and it was a fun experience. The first thing I tried to bid on was a Barack Obama shirt and there were already bids on the shirt and the highest bid was $4.75. So I went and bid $5.00 and right after but down the bid someone had already out bidded me with $5.25. So I went and added $5.55 but I was out bidded again and it kept going back and fourth like that until it got to about $10 and I gave up because I was going to pay that much for a shirt. When it got to $10 there was still a hour and change left before the auction was over and if I kept going back and fourth with the bidders the shirt probably came up 2 around $50+. During the auction for the shirt I was really into it because the bid kept going up and up and that made excited because I wanted the shirt really badly and I was trying really hard to out bid other people but it would not work. After I gave up in the shirt I went and try to bid on a Barack Obama button. I was lucky because there were no bids on the button yet and the starting price for the bid was $2 and I put down the first bid at $2.25 and there was about 2 hours left. With about a hour left there was still no other bidders on the button but to be on the save side I added a extra 50 cent to my bid and in the end I ended up paying $2.75 for the button because I was the only bidder and I felt happy because I won my first ever ebay auction.
I think this can connect to capitalism because there are a whole bunch of different people willing to spend money on anything. Some people were willing to spend over $100 on a jersey, rather than being smart and trying to find the same jersey in a different auction probably for a cheaper price. They were more worried about the jersey rather being worried about how much they would pay for it or if they could even afford it or not. I think the people that auction off things on ebay makes a lot of money off people everyday if they auction off something that is hard to get or you can not find in stores because some people would spend almost all their money just to get that one thing. It is like that because they think that they can not live without something like that.
1 comment:
Anias,
Nice writing and I thought the connections you made in the 2nd P were interesting.
Your story for the bidding sounds false - in Ebay world if you the starting price is $2 and you bid up to a max of 2.75 and no one else bids, then you win it for $2.
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