PRICE GOUGING

Besides some vendors on eBay, Amazon is also awash with price gouging. It seems to be becoming a nightmare in the markets.

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This is an example of gouging for the Sabrent 4TB SSD product. It seems that there are not many who want to sell M.2 SSD products that are full load of memory chips. A year ago the Sabrent 4TB was $650, now it is $850 which runs afoul to the price deflator.

NewEgg sells SSD products but for some reason the Sabrent brand is not seen in the filters for M.2 NVMe SSD drives. The vendor does not seem to be compliant with listing practices.

Intel said their 665p 2TB would be available in January. Five months later it surfaced at NewEgg at 4x the 1TB price. Guess the 660P 512GB will have to make do in the face of growing game storage requirements.

Price gouging is illegal but nobody hardly enforces it. Locally, the Province of BC has strong enforcement for gouging. In America, States vary very widely in laws for gouging with some states having no protection at all.

In this current period of market turmoil due to coronavirus it seems that hoarding has become the norm. Hoarding behavior is a common response to fear, whether fear of imminent societal collapse or a simple fear of a shortage of some good. Civil unrest or natural disasters may lead people to collect foodstuffs, water, gasoline, generators, and other essentials which they believe, rightly or wrongly, may soon be in short supply. There is often an implication that hoarding occurs because individuals do not believe that the market will operate efficiently in current or expected conditions.

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Recent prices have been far above launch prices. The shortages have driven prices sky high.