“When supply can't keep up with demand, the result is bidding wars. And in bidding wars, there are always winners and there are always losers. There are no mutually beneficial outcomes. So from an economic perspective, this is extremely wasteful.” Supply And DemandAuctionBidding War Author:Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth
“Now it’s as if buying a new phone is like winning some kind of contest. I felt as if I were in a bidding war for the color I wanted, not that I actually care, because I’ll get a case to prevent the thing from shattering the first time it falls out of my bra strap.” HumorColorPurchasingIphonesUpgradesBidding War Author:Regina Barreca