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Author Info

  • Waterson, Michael

    (Department of Economics, University of Warwick)

  • Doyle, Chris

    (Department of Economics, University of Warwick)

Abstract

The iPhone 4 was introduced into the UK market on 24th June 2010 to significant consumer interest. This clearly exceeded supply through conventional channels, since there was very extensive activity in terms of bidding on eBay auctions for the product. We monitored all eBay transactions on the iPhone 4 for six weeks from introduction, with total transactions amounting to around £1.5m. We analyse determinants of the winning bid in terms of characteristics of the phone, the seller and the buyer. Our most notable and novel finding relative to previous studies is a very significant premium over list price being paid in almost all cases, with positive uplift factors including whether the phone was unlocked and whether it could be sold overseas. Demand fell over time, as evidenced by lower achieved prices, but the fall in price was relatively modest. A significant premium of 32GB over 16GB versions is revealed.

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Bibliographic Info

Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 949.

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Date of creation: 2010
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Handle: RePEc:wrk:warwec:949

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Related research

Keywords: eBay auctions ; demand revelation ; auctions ; bidding ; short supply ; versioning JEL Classification: D44 ; L81 ; D12 ; L63;

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