Christmas is slowly creeping up and as expected there are going to be some hot items in people’s most wanted gift list. One thing I was thinking about for example is that there is a new video game system called the Nintendo Wii-U coming out which no doubt is going to sell out on the day of its release as even per-orders are filling up quickly. This got me thinking a little as while many people will pre-order one for themselves, many people also try to pre-order more than one as the strategy is to essentially sell the second one.
What’s interesting too is that I often hear this turn into an ethics issue where people say it is wrong to buy more than one in this case as people are essentially depriving someone else the chance to get an item that is in short supply. On the flip side some say that is smart as you can essentially get enough money back if you resell it, assuming it is a hot item,which makes it as if you are saving say 50% off your purchase.
I personally don’t see it as right or wrong in this case as it’s not exactly a life essential and it is no different than anyone else trying to make money trough means such as buying cheap from a wholesaler and reselling it to make a profit. As well, if someone is willing to pay so much more is it wrong for the person to say no? I remember one funny example I saw at a mall as a person lined up to buy this new system as he pre-ordered it. Then out of the blue this lady walks up to the guy and said that she will pay him $1000 right on the spot for that system. As expected, he took the offer as the item itself was about $300 only.
In some ways I would say maybe it is good practice for anyone that is trying to be entrepreneurial. For some company’s too they don’t even expect a down payment or that it is fully refundable. So in terms of risk there isn’t really any. Like in those cases it’s one of those it doesn’t hurt to try.