Pricing niche products: Why sell a mechanical keyboard kit for $1,668?

The auction yields a full demand curve, including the maximum price each customer is willing to pay and their freaking email address!

All buyers will likely all pay less than they were willing to pay, which makes ‘em feel like they got a good deal.

The price is set by “the community”, which deflects whining from toxic nerds.

The highest 10 bidders won, and they all paid the same price — the 11th highest bid

Bidders had 24 hours to submit a sealed bid (“sealed” meaning bidders can’t see each other’s bids)

On their next sale, my friend held out 10 kits to sell via auction

So, rather than speculate on a price, I convinced my friend to run a Vickrey auction to let their market determine the price. The auction worked as follows: