Just read an article about Amazon's automated pricing system making a 35$ book about Flies cost $23 MILLION!!! http://www.michaeleisen.org/blog/?p=358 i would be surprised if the books author didnt have a toast on hearing this :P ;) the article also speaks about patterns in which price increased among other book sellers. Now i have a question, is it okay to have ur website always Sell an item 10$ less than your competitors website? How perfect is it in LEGAL TERMS?! :)
Anyways, its vivid that Amazon.com doesn't have a sanity check on their Automated algorithm to price things!
You don't lose much other than few amusing articles, wonderful publicity on the internet, well u might be on bbc and CNN too :P and of course few customers not buying ur product on a drastic increase like this!!!! But consider what happens if a Million dollar worth product goes for few bucks! thats disastrous! Well having worked with retail companies price related applications i have a better idea on the crisis and the impact!
Out of curiosity i just visited Amazon.com and searched for the same book on flies! Guess what, its still not corrected ( atleast thats what i figured out! ) its now costing about a Grand! ;)
Amazon, have a trigger on ur articles price increase ( Err, i get it! trigger on the worlds largest collection holder is insane! then have a daily automated check! :P ) to check if the price suggested by the algorithm is how drastically different from its theoretical Correctness! Filter the the chosen ones to be examined by HUMANs ;)
Gud luck Amazon! ;) Well, would love to buy a rolex watch for a dollar :P ;) Looking forward to it! :P