Amazon’s $23M book about flies (2011)

To anyone considering reading the article, there isn't much more substance than a guy stumbling upon a book that is listed on Amazon for an absurd price.

Re: Amazon’s $23M book about flies (2011)

#6

Post by finnh » Mon, Sep 19, 2022, 1:53 PM UTC

Reason077 wrote: post #3

Hmm. Is there a way to short-sell physical items like books?

Selling it in Amazon when you don't actually own a copy, then going out and buying a copy at need.

Which is exactly what the article's author thinks might be happening, for the higher-priced book.

Re: Amazon’s $23M book about flies (2011)

#7

Post by neilv » Mon, Sep 19, 2022, 1:54 PM UTC

> My preferred explanation for bordeebook’s pricing is that they do not actually possess the book. Rather, they noticed that someone else listed a copy for sale, and so they put it up as well – relying on their better feedback record to attract buyers. But, of course, if someone actually orders the book, they have to get it – so they have to set their price significantly higher – say 1.27059 times higher – than the price they’d have to pay to get the book elsewhere.

I've also seen arbitrage where the seller will buy the collectible on one platform, then drag their feet on paying, while listing it for sale on a different platform.

Re: Amazon’s $23M book about flies (2011)

#8

Post by Chris2048 » Mon, Sep 19, 2022, 1:54 PM UTC

iLoveOncall wrote: post #5

To anyone considering reading the article, there isn't much more substance than a guy stumbling upon a book that is listed on Amazon for an absurd price.

and that it might be an automated price setting algorithm responsible..

Re: Amazon’s $23M book about flies (2011)

#9

Post by mellonaut » Mon, Sep 19, 2022, 2:00 PM UTC

If you want to watch basically the same information deducted in similar matter in video format, presented by a mathematician who makes hilarious youtube videos with very high production value, you’re in luck!

Matt parker made a video on this topic, and it’s great: https://youtu.be/sseSi0k3Ecg

It will not give you not a lot more information than you can find in this blog post (though it relates it to a stock market crash triggered by high frequency trading bots doing basically the same thing), but it’s highly entertaining.

——

edit: after re-checking the video, it states that is a video adaptation of the blog post, and the blog post is listed as primary source of the information :)

Re: Amazon’s $23M book about flies (2011)

#10

Post by riadsila » Mon, Sep 19, 2022, 2:04 PM UTC

Glad to see the prices are less chaotic today https://www.amazon.com/Making-Fly-Genetics-Animal-Design/dp/...