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Topic: Think credits will ever be worthless?

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Subject: Think credits will ever be worthless?
Date Posted: 1/20/2014 10:44 AM ET
Member Since: 5/16/2008
Posts: 2,136
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I'm exaggerating a little. But, just saw that they're now at $1.80 by at least one seller in the BB. I started a thread similar to this ages ago when they dropped before (not going to root back through and find it). Maybe when we first started seeing them at $2, or $2.50 even. I doubt they'll ever be worthless, but could 99-cent credits be far away? Or 50 cents? 1 cent? To me, it doesn't really matter anymore. I sold some extras when they were around $3 or $2.50. A credit = a book, and I'm happy getting my books for whatever it is now. Are people just getting desperate or what? I know, I know, there are some "bulk shippers" who do so many big transactions that they rack up a lot of credits. But $1.80? Wow.

Date Posted: 1/20/2014 1:11 PM ET
Member Since: 1/17/2009
Posts: 9,664
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Last time I did a bazaar deal, I got about 80-ish credits, and they cost me about $1 each. So, selling for $1.80 isn't bad.

I haven't sold any credits yet, but if I were to do so, I woudln't be as concerned with how much profit was in it, ... I'm more concerned with getting rid of books in a way that is cost-neutral to me, plus selling credits would net me a little more $ to spend on new releases, which I can them play in games here ....

But I think most of those really cheap credits come from people who transfer credits from the DVD site. You can get multiple credits on DVD sets, and they are really really cheap to ship, not to mention that if you have a source for obtaining them cheaply in the first place, you can make a small amount of money pretty easily.

 

Date Posted: 1/21/2014 7:39 AM ET
Member Since: 1/22/2008
Posts: 688
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It seems to me each time postage increases credit prices in the bazaar go down more.



Last Edited on: 1/22/14 9:53 AM ET - Total times edited: 2
Date Posted: 1/21/2014 9:45 AM ET
Member Since: 5/15/2013
Posts: 65
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Also, just competition in general. Once a new standard low is established, say $2.00, people go a little lower to increase the chance that you'll buy their credits and not from the 10 others that are selling them for $2.00+. 



Last Edited on: 1/21/14 2:48 PM ET - Total times edited: 1
Date Posted: 1/21/2014 2:40 PM ET
Member Since: 8/16/2007
Posts: 15,185
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It always surprises me that the lower the price goes, the more sellers there seems to be. The only way I can see them stopping the decline is to somehow limit the credits transferred from other site to only being able to be used here, not sold. I don't know if they will ever become worthless, but they will be so cheap that more and more members will post less books because they don't need credits and can't sell for the postage it cost to earn them and it will just be so much cheaper to buy them in the Bazaar than to earn them.

Date Posted: 1/21/2014 3:07 PM ET
Member Since: 5/15/2013
Posts: 65
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Yeah, some will only buy their credits. But many, like myself,  usually only buy like that when we've run too low and need more than one or two in a pinch. More specifically, where I've run low and I want to order 5 or 6 books that I really want and are posted "right now" and I don't want to take a chance of waiting too long and loosing them because I'm busy sending out several of my books.

Also, a lot of people don't have tons of books around all the time that they can post, and even if they do post some, it could be a long time before they get any takers. Meanwhile, there are some books they want and don't want them to get away.



Last Edited on: 1/21/14 6:33 PM ET - Total times edited: 3
Date Posted: 1/21/2014 7:24 PM ET
Member Since: 8/23/2007
Posts: 26,510
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The super cheap price of credits in the book bazaar is why I stopped buying WL books just to post.  I never sold them to make a large profit but just to cover the cost of postage and maybe the $.50 or so that I spent on the book. I don't have the time or the storage space to want to deal with always trying to ship books in large volumes with deals and stuff. 

The super cheap credits make me worry a little too about keeping many on hand.  Because those super cheap credits kind of encourage people to just buy credits and not mail books.  Yes I know there are people who still mail books but I wonder how many new people come on here and think I don't have to mail any, I can just buy them cheap from other members.

(I don't count what I spent for a book I read when factoring in what it cost me to earn a credit for it.  I figure whatever I paid to acquire the book is my fee to read it)

Date Posted: 1/22/2014 10:02 AM ET
Member Since: 1/22/2008
Posts: 688
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Mary,

Those are my thoughts exactly. I used to buy books all the time, for 25 cents, to post to make someone's day but now I don't. I still post books I read but usually do those in a deal of at least 2 credits to save postage.



Last Edited on: 1/22/14 10:02 AM ET - Total times edited: 1
mistie -
Date Posted: 1/22/2014 11:46 AM ET
Member Since: 9/27/2007
Posts: 2,017
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I was going to type a response, but ten read mary's post, and that was exactly what I would have written.

I only post and send WL books now - I have more credits on hand than I am comfortable with - but still like to send out WL books regardless. For other books I am finished with that that have mulitple copies in the system, I just donate them. I don't feel inspired to spend $2.53+ to mail a book to receive a credit, so, am happy to leave the FIFO queue shorter for others.

Date Posted: 1/22/2014 2:29 PM ET
Member Since: 5/15/2013
Posts: 65
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Even if I had a million credits I would still post/send books out on occasion, just to contribute (regardless of credit prices). They would not have to be a certain kind (WL, etc). The only exception would be "multiple copy books". But I also have access to some books outside of my interests.



Last Edited on: 1/22/14 2:31 PM ET - Total times edited: 1