petroclaus:
Clearance Sale @Best Price Abuja

[s]URGENT GIVE AWAY MERCURY 2.4Kva
All in One Inverter, Charger, AVR,
Automatic change Over etc = 65k SOLD[/s]

*Complete System INVERTER & BATTERY = 270k

*Jikokoa Fast Cooking Charcoal Stove = 16,500k

*Suoer 2 in 1 2000W
Inverter & Charger = 38k

*Fireman 6.6Kva Generator
Neatly used and Working Perfectly = 150k

*[s]HP 30A Laserjet Toner Cartridge
Black Ink = 8k SOLD[/s]

*Sound Proof YC POWER GENERATOR
Brand New = 2.6M

*Brand New PS3 Controller + Brand New Havit USB Double Pad + Far Cry4 + PS3 Console with RLOD Problem = 15k

*Low Budget Inverters Available ( New and Used) = 40k and Above

*Brand New Trainers Size 45 = 3k SOLD

*[s]Mercury 2.4Kva 24v Inverter
(Brand New) = 100k SOLD[/s]

*[s]Contec CP1700 Pure Sine Wave Inverter
1700VA / 1.7Kva / 24v. = 75k SOLD[/s]

*[s]Polo by Ralph Suade Shoe,
Size 45 / 11. = 8k SOLD[/s]

*[s]Luminous Inverter 3.5Kva 48v
Urgent give away @ 130k for now = 190k SOLD[/s]

Serious Buyers should Whatsapp only *07039576688*

petroclaus:
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zeestone99:


There are some items that commands value such as car, house etc.
Phones don't command any value once a newer and better model rolls out simply because they become outdated.
Your fone and electronics becomes outdated both in functions and aesthetics when a newer model comes out. Your old fone won't get updates, it won't work with some apps, the camera would be outdated, the functions would be outdated such that there won't be demand for it again. Once the demand is low the prices fall (basic economics). Take example of your led tv and smart tv. Ordinary Led price will fall becos people would demand smart tv. Once they roll out smart tv that support apple air play, the ordinary smart tv price will fall if there is no demand.
Cars are different ball game, the demand is high, even a condemned car have value . They will pieces it part by part and still make money. Its like comparing crude oil with coal. Both are useful but not on the same level. U can make money from crude in so many ways therefore demand is high and price will not fall. Finally they are backed by the dollar. Low value means small dollar value and low naira, high value means high or moderate dollar value and very high naira cos of exchange rate.

LetLoveHeal:
iPhone 6 64gb
Note-Fell down and didn't come up,MAKE ME AN OFFER

CALL/WHATSAPP-09I28698472
LOCATION-LAGOS (Alimosho)

Abimloaded:


..

advanceDNA:


.... There is a difference between a once-in-a while-seller of personal goods he has used for a while and wants to upgrade after saving salary or collecting quarterly bonus from office .....and a full-time seller that monitors market forces, buyers behavior, final consumer's choice, other market trends and so on....

In the long run...We buyers don't really care about the all the whole market dynamics.....we always want to buy at a price convenient for us..

. If u like shalaye from now till tomorrow

We don't really care about seller's profit...we just expect u to make small profit so we don't have to pay much.....
we don't care weda you use ur profit to buy other goods that are also skyrocketing in price, we don't care u are paying for shops, and so on...
We just dont give a flying fvck.... So resist the urge to shalaye.... Who will buy will buy.... Who will complain will complain...

Abimloaded:


You've got valid points and all your claims are TRUE. But don't forget these phones and some other items are imported and the exchange rate plays a very vital role in dictating what the price is.

You may have bought the item in NAIRA and not Dollar but because you need to import them through NAIRA-DOLLAR window, their rate affects the cost and selling prices.

Let me give an example, you are a phone vendor, you bought an iPhone 12 for $200 last month from your USA supplier at the rate of ₦300/$ which means you bought for 300x200 = ₦60,000 and you decide to sell for ₦80,000 in Nigeria to someone and made a profit of ₦20,000.

After two years, the USA supplier has already reduced the price for iPhone 12 from $200 to $100 because it's outdated and not much recent. Now you're trying to buy the same phone from same supplier but the current exchange rate is now 600/$.

So if you're going to be buying that same phone of $100 from USA at 600/$, it means you'd be paying ₦60,000 for the same item again after 2 years which shouldn't be so.
In actual sense, you're paying $100 after two years now but because your country's currency rate lost value against the foreign currency (dollar), you're still paying the same naira amount you paid two years ago, which only means that if you're to keep your profit margin, you have to sell for the same price you sold two years ago which was ₦80,000.

Now, one of the persons you sold the phone to two years ago came with his friend to your store to buy that same phone, expecting it to be lesser by now because it's been two years. You told them the price is still the same and they start wondering why... What I just explained it the MAJOR REASON behind it.

If you're being considerate enough and decided to sell for ₦70,000 to them just to sell for them and reduce your profit margin, then later you decided to restock the item by buying again from your supplier in the US, you realise the exchange rate has moved to 800/$, which also means the same phone will now cost you 800x100 = ₦80,000 to buy. Which totally means you've made NO PROFIT on the one you sold because while trying to restock, the new rate has taken away the profit. Never forget that you're still buying the same phone and at a lower price of $100 compared to when you first bought it for $200.

So if you're buying it for that ₦80,000 you definitely can't be selling for ₦80,000 again which forces an increase in Nigerian price even though the item is still $100 from the source. That's the effect of exchange rate.

Now someone in the USA will not complain or have issues with the price because the he's buying at $100 which is cheaper than the $200 it first sold for.

Someone in another country where their rate hasn't jumped up will be buying it lesser too because their currency didn't lose value.

In Nigeria where the currency has lost value against the dollar, you'd be paying more naira because the rate jumped up, not the actual dollar value of the item.

Now on this CLEARANCE SALES matter, it's normal that I sell the same item LESSER because it's a clearance sale.
But in some situations, you sell lesser than the current market value and not about how much you got it two years ago. I'll tell you why.

In most cases of clearance sales, you're trying to get rid of an item by selling below CURRENT MARKET price value, because that's always going to be your reference value and not how much it sold for when you bought it two years ago.


I'll add this too, you realise we don't even import GARRI or anything used in processing/making Garri but the price jumps up too sometimes.
You know why? The Garri seller also buys things that their prices have been affected by inflation & exchange rate and the only way they can adjust to the inflation is by reasonably adjusting the price of Garri so they she can also buy imported rice to eat too, so she can also buy vegetable oils that are mostly imported, as well as buy a phone for herself which is also an imported item and other items that their prices have been increased due to the importation cost dictated by the exchange rate. Otherwise, she'd barely be able to buy anything at all so the normal thing is to adjust (increase) the price of her item to cushion the effects and still be able to sustain her purchasing power. It's all Economics.

Everyone is right, prices of items should drop normally and truly, they are dropping in value but Inflation is the reason it appears like prices are stagnant or soaring, just as I've used the phone vendor as a case study.

I attached an image already to explain why it seems some items maintain NAIRA VALUE or higher NAIRA VALUE even after many years - even though their value from Major supplier has dropped.

Great points from everyone in the likes of

Onyeka90210
swiz123
iamoyindamola (not-giving-up-easily lady )
michlins
zeestone99
mosak and others.

Abimloaded:


You've got valid points and all your claims are TRUE. But don't forget these phones and some other items are imported and the exchange rate plays a very vital role in dictating what the price is.

You may have bought the item in NAIRA and not Dollar but because you need to import them through NAIRA-DOLLAR window, their rate affects the cost and selling prices.

Let me give an example, you are a phone vendor, you bought an iPhone 12 for $200 last month from your USA supplier at the rate of ₦300/$ which means you bought for 300x200 = ₦60,000 and you decide to sell for ₦80,000 in Nigeria to someone and made a profit of ₦20,000.

After two years, the USA supplier has already reduced the price for iPhone 12 from $200 to $100 because it's outdated and not much recent. Now you're trying to buy the same phone from same supplier but the current exchange rate is now 600/$.

So if you're going to be buying that same phone of $100 from USA at 600/$, it means you'd be paying ₦60,000 for the same item again after 2 years which shouldn't be so.
In actual sense, you're paying $100 after two years now but because your country's currency rate lost value against the foreign currency (dollar), you're still paying the same naira amount you paid two years ago, which only means that if you're to keep your profit margin, you have to sell for the same price you sold two years ago which was ₦80,000.

Now, one of the persons you sold the phone to two years ago came with his friend to your store to buy that same phone, expecting it to be lesser by now because it's been two years. You told them the price is still the same and they start wondering why... What I just explained it the MAJOR REASON behind it.

If you're being considerate enough and decided to sell for ₦70,000 to them just to sell for them and reduce your profit margin, then later you decided to restock the item by buying again from your supplier in the US, you realise the exchange rate has moved to 800/$, which also means the same phone will now cost you 800x100 = ₦80,000 to buy. Which totally means you've made NO PROFIT on the one you sold because while trying to restock, the new rate has taken away the profit. Never forget that you're still buying the same phone and at a lower price of $100 compared to when you first bought it for $200.

So if you're buying it for that ₦80,000 you definitely can't be selling for ₦80,000 again which forces an increase in Nigerian price even though the item is still $100 from the source. That's the effect of exchange rate.

Now someone in the USA will not complain or have issues with the price because the he's buying at $100 which is cheaper than the $200 it first sold for.

Someone in another country where their rate hasn't jumped up will be buying it lesser too because their currency didn't lose value.

In Nigeria where the currency has lost value against the dollar, you'd be paying more naira because the rate jumped up, not the actual dollar value of the item.

Now on this CLEARANCE SALES matter, it's normal that I sell the same item LESSER because it's a clearance sale.
But in some situations, you sell lesser than the current market value and not about how much you got it two years ago. I'll tell you why.

In most cases of clearance sales, you're trying to get rid of an item by selling below CURRENT MARKET price value, because that's always going to be your reference value and not how much it sold for when you bought it two years ago.


I'll add this too, you realise we don't even import GARRI or anything used in processing/making Garri but the price jumps up too sometimes.
You know why? The Garri seller also buys things that their prices have been affected by inflation & exchange rate and the only way they can adjust to the inflation is by reasonably adjusting the price of Garri so they she can also buy imported rice to eat too, so she can also buy vegetable oils that are mostly imported, as well as buy a phone for herself which is also an imported item and other items that their prices have been increased due to the importation cost dictated by the exchange rate. Otherwise, she'd barely be able to buy anything at all so the normal thing is to adjust (increase) the price of her item to cushion the effects and still be able to sustain her purchasing power. It's all Economics.

Everyone is right, prices of items should drop normally and truly, they are dropping in value but Inflation is the reason it appears like prices are stagnant or soaring, just as I've used the phone vendor as a case study.

I attached an image already to explain why it seems some items maintain NAIRA VALUE or higher NAIRA VALUE even after many years - even though their value from Major supplier has dropped.

Great points from everyone in the likes of

Onyeka90210
swiz123
iamoyindamola (not-giving-up-easily lady )
michlins
zeestone99
mosak and others.

Abimloaded:


This is a response from the urge to respond. I seldom discussed this whole thing in that context.
Read what I wrote very well, not necessarily to respond.
Bye.

Abimloaded:


This is a response from the urge to respond. I seldom discussed this whole thing in that context.
Read what I wrote very well, not necessarily to respond.
Bye.

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Onyeka90210:


I must admit, you did try your best explaining.
It’s left for them to take it or leave it.
“It is not your duty to educate them, if they wish to know more, let them seek for knowledge”
But he’s low key right at the end “The Nigerian Buyers” do not really care about all that economics talk, they just want an item to get cheaper, without understanding why it’s not getting cheaper and they keep getting frustrated year after year.
That’s some Caveman shallow minded stuff .
If at least 50% of the population had a broader level of reasoning, we won’t even be in this mess in the first place.
Bitter truth.
However I do believe it’ll get better.

iamoyindamola:

I am a guy bro