New Testament For English Readers - reaches 100% in CP

New Testament For English Readers - http://www.logos.com/communitypricing/details/2141 has reached enough bids at $16 to go into production.

If you have already bid on this title you should receive an email telling you this and if you currently have a bid BELOW $16 you have until Friday to raise it. Based on my previous Community Pricing report - http://community.logos.com/forums/t/10089.aspx I can tell you that if everyone who has bid below $16 raised their bid then it would actually only cost $12

Either way, if you would like this title in your library at the lowest cost it will most likely EVER be from Logos then you have until this Friday to make a decision.

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Comments

Ted Hans

I hate to think that some will miss out due to a lack of understanding of how the community pricing works. Those who have placed bids below $16 you have up to this friday noon to raise you bid to $16.

I am sure some will try to raise or lower their bid to $14 but make sure you watch the graph to see if it reaches the production mark before friday at $14. If not you will miss out.

To be on the safe side now, under $16 bidders raise your bid to $16 and you have nothing to worry about Friday noon - http://www.logos.com/communitypricing/details/2141

Ted

Jeremy White

https://community.logos.com/discussion/comment/85496#Comment_85496

To be on the safe side now, under $16 bidders raise your bid to $16 and you have nothing to worry about Friday noon - http://www.logos.com/communitypricing/details/2141

Correct. Assuming you're happy to pay $16 then go ahead - the most you will pay is $16. Understand however that the CP graph counts your bid at every level up to your max. So when you bid $16, it is also counting you in the people who would pay $14, $12, etc - so if enough people bid $16 then the price may decrease.

Ted Hans

https://community.logos.com/discussion/comment/85518#Comment_85518

so if enough people bid $16 then the price may decrease.

Jeremy, i am not sure about this! I don't see how enough bidders at $16 would push the price down. Enough bidders at $14 (provided it reached the production line) will lower the price from $16 to $14, at least that is my understanding and not as you say above.

Perhaps i am wrong on this but i don't see how. Would you be kind enough to explain, i may be missing something.

Ted

Jeremy White

https://community.logos.com/discussion/comment/85524#Comment_85524

Effectively your CP bid is an indication of the MAXIMUM you would pay for the title in question. For instance, there are some people who have bid $36 for New Testament For English Readers. The logical assumption is that if they are prepared to pay that much then they would equally be prepared to pay $16 - so the spike in the graph includes EVERYONE who has bid $16 or more.

So to restate, if people want to GUARANTEE they they will not miss out on this title at the best possible price then they should bid $16 before Friday noon.

However,

let's assume that the amount of money Logos is wanting to produce this title was $10,000 (I have no idea how much they have priced their costs at - this is just a hypothetical number) Based on that amount we 646 people have bid $16 or more (which puts it over the 10 grand mark). But that leaves an additional 209 people who have bid less than $16. If all those people raised their bid to $16 then that would total over $13,500. But remember, $16 is the max they would pay which means they would happily pay $12 : 855 x 12 = $10,260. Logos undertakes to use the cheapest per unit cost that covers their expenses so in this scenario the CP price would be $12

Hope that explains it clearly enough

Ted Hans

https://community.logos.com/discussion/comment/85533#Comment_85533

Thanks for the explanation - never heard it put like that before. I was under the impression that regardless of the amount of bidders at $16, if $16 is the only amount that has reached the production line then it remains $16. And those below $16 would loss out. Thanks again, for taking the time to explain your point well.

Many blessings.

Ted.

Jeremy White

https://community.logos.com/discussion/comment/85539#Comment_85539

I was under the impression that regardless of the amount of bidders at $16, if $16 is the only amount that has reached the production line then it remains $16. And those below $16 would loss out.

This is correct. So currently, only the people who have bid $16 or more will get the title for $16 - under bidders will miss out. But you'll notice that as the extra $16 bids get added it makes that peak in the graph go higher and higher and eventually it will drag the $14 peak over the line as well. The official Logos page that explains community pricing has an example graph of how this might look ; http://www.logos.com/communitypricing/about

Edwin Bowden

https://community.logos.com/discussion/comment/85547#Comment_85547

A reminder that the $16 Community Pricing bargain goes away this Friday at noon.

http://www.logos.com/communitypricing/details/2141

Rosie Perera

https://community.logos.com/discussion/comment/86446#Comment_86446

It is now down to $12. More people are jumping in! Even if you had bid higher, you'll now get it for $12, or possibly even less if more join in before Friday.

Jim VanSchoonhoven

https://community.logos.com/discussion/comment/87096#Comment_87096

It almost looks like if enough people bid at 12 dollars we might even end up getting this resource for 10 dollars!!! And I have been waiting for years hoping to some day get it for 16 dollars, it is great to see the community pricing system really working like it was designed to, I think these forums have been a big help to get the news out about community pricing!!!

In Christ;

Jim

Ronald Quick

https://community.logos.com/discussion/comment/87254#Comment_87254

How long has this been on the CP page?

Floyd Johnson

https://community.logos.com/discussion/comment/87269#Comment_87269

How long has this been on the CP page?

It was one of the first products presented by community pricing. I don't remember when community pricing started, but it was there when it did.

Blessings,

Floyd

Jim VanSchoonhoven

https://community.logos.com/discussion/comment/87273#Comment_87273

If I recall correctly, I first saw community pricing in the first half of 2008 and it was one of the first things I placed a bid on, along with Barnes, here it is 2010 and it looks like only Barnes will still be on community pricing. But I can understand why Barnes is still there, there are so many places with free Barnes Notes it is hard to want to pay for it.

However this commentary is much harder to find, although google or someone has made a poor pdf of at least some of the volumes.

By the way, it looks like the next dot has started to move up, who knows if enough will bid 12 dollars we may close it out at 10.00, which would really be amazing. Remember noon is the cut off!

In Christ,

Jim

Jeremy White

https://community.logos.com/discussion/comment/87300#Comment_87300

who knows if enough will bid 12 dollars we may close it out at 10.00

If my little spreadsheet is correct there are *just* enough remaining underbidders that if they were to raise their bid to 12 the final price would be $10. Of course, if there are new bidders coming in that makes it easier.

Jim VanSchoonhoven

https://community.logos.com/discussion/comment/87447#Comment_87447

Actually I believe that you sheet can not be right, since none of the bids of 10.00 or less count at all right now, if they all moved to 12 dollars there would be a huge over flow.

For example I just checked the chart and at a 4.00 bid they have 40% of the money they need to get the set at 4 dollars and at a 8.00 bid they have nearly 80% of the money they need to get the set at 8 dollars. In other words almost twice the number of peope are at the 4 dollar price, If all of them changed their bids to 8.00 that would add an additional 80% to the 8 dollar bid chart putting the 8 dollar bid at 160% of what was needed.

On the other hand it would not actually take a large % of those 8 dollar bidders to move over to 10.00 to put the price over the t0.00 mark.

In Christ,

Jim

Jeremy White

https://community.logos.com/discussion/comment/87469#Comment_87469

Bear in mind though that that 40% at the $4 mark includes everyone who has made a bid - because remember your bid is an indication of the maximum you are happy to pay.

So to elaborate : Let's assume that the amount Logos needs to produce this book is $10,000. If the graph is sitting at 40% at the $4 this means than 1000 people have bid $4 or more. (1000 x 4 = 4000 or 40% of $10,000)

Going up to the $6 level we see it's sitting at about 58% - this means that 967 people have bid $6 or more - or putting it another way of the 1000 people that have bid on the book - 33 of them only bid $4 and so are only counted at that level. (967 x 6 = 5802 which is 58% of $10,000)

Next level is $8 and by my estimate its about 77% which equals 963 people - so the 4 people that only bid as high as $6 are added to the 33 $4 bidders. (967 x 8 = 7704 which is 77% of $10,000)

Next level is $10 - around 90% so equating to 900 people of the 1000 overall that have bid. (900 x 10 = 9000 which is 90% of $10,000)

$12 level is interesting - by my reckoning it's at 108% - this still represents 900 people - so if my measurements are correct there is no one still sitting on a $10 bid that hasn't already raised it. (900 x 12 = 10,800 which is 108% of $10,000)

Hope that clears up any confusion.