Directions: Please read the case study carefully and answer the three (3) questions at the end of this assignment.

Auctioning pieces of the original Hollywood sign from 1923, McDonalds Happy Meals toys from 1979, Hawaiian postcards from 1897, and gum chewed by Britney Spears in 2004, eBay is the worlds largest marketplace for collectibles. The site facilitates the purchase of $60 billion worth of goods and services every year, from everyday objects to special somethings that draw hundreds of people eager to make the winning bid; rare Happy Meal toys sell for about $200; the 1897 postcard (one of 160,000 postcards listed on any given day) went for $1,085; and Britneys gum was purchased for more than $15,000.

What makes these items so special? Happy Meals collectibles may tap into adults nostalgia for childhood visits to McDonalds. Postcards offer an opportunity to own a tiny piece of the past or a memento of a place that has personal meaning, such as the consumers hometown or honeymoon destination. And possessing gum chewed by Britney gives the purchaser a small but direct connection to a well-known celebrity.

According to eBays research, consumers who unintentionally build a collection do so, in part, because they get pleasure from using these special items in daily life. Consumers who consider themselves collectors tend to buy more frequently and spend more money to expand their collections than others do. Some seek out specific items that have meaning because of family traditions, whereas others acquire items that represent their interests or aspirations. Even occasional collectors mob the eBay site when particular items are up for bid, as when 60,000 people visited during a weeklong auction of Walt Disney memorabilia to benefit a childrens charity. For $37,500, one consumer won the right to have his name and a funny saying etched on a mock tombstone featured in Disneylands Haunted Mansion attraction. A Disney spokesperson observed that the company has been part of the childhood experience for many people and here was a chance to be part of that on a very big scale.

Other online auction events are also satisfying consumers cravings for acquiring that special something. When the St. Louis Cardinals tore down the old Busch Stadium, the team auctioned off the seats, pieces of the walls, dugout equipment, telephones, bathroom fixtures, pennants, players lockers, and even the managers clubhouse desk. After right fielder Larry Walker autographed his locker plus a trash can, a telephone, and several other items, the lot sold for $11,553. In all, more than 17,000 fans bid on more than 50,000 pieces of the old stadium. People want this stuff. Its not about stuff being fancy or good-looking. It means something to people, says a team official.

Price is not always the primary concern. Consumers who yearn for a piece of history or a seat from a favorite stadium may be willing to pay whatever they must to acquire that special something. Bidders sometimes get so caught up in the excitement that they pay more than they expected to spend. Of course, auction websites like eBay frequently offer consumers the option of paying a fixed price to buy something immediately, a means of avoiding the delay and uncertainty of participating in an auction. For auction enthusiasts, however, the process of buying from an online auction adds to the fun and the suspenseand gives the successful bidder a special story to tell about acquiring that special something.[i]

1. Would a consumer who buys a Busch stadium seat tend to find cultural meaning or emblematic meaning in it? Why?

2. Is it likely to be the symbolic value, mood-altering properties, or utilitarian value that would cause a consumer to bid high to have his name in Disneylands Haunted Mansion?

3. Under what circumstances might someone giving a gift of a used item bought on eBay be happy to tell the recipient about the price paid?