Are You Rich? The $999 iTunes App
Recently some nutty developer posted an iTunes App with the decidedly nutty price of $999. It’s basically called “Are You Rich?” Most apps sell for about $10 or so. The app displays an image of a big, red, sparkly diamond, and other than that, it basically does nothing.
Anyhow, the app was quickly pulled. I say the app should be left in the store. First off, only an idiot would buy an app of limited functionality (apparent when you read the product description) that’s basically the price of a MacBook. There are some software packages that cost that much, but they’re full-on suites like Adobe CS3. Essentially, any software over $100, people should really be taking it upon themselves to read reviews or check out an app to see if it’s really worth it. Even the star rating in iTunes trashed the app. Don’t be an idiot and pay for something just to see if the price is real. Buyer beware.
Second, there are tons of things on the market that have equally ridiculous prices, if not more so:
- 1 LB Kopi Luwak Coffee (beans extracted from cat poop): $100
- Denon Ethernet Cable: $499
- Grand Opulance Ice Cream Sundae: $1,000
- 1 ounce of No. 1 Pure Perfume: $2,350
- 3 bedroom, 2 bath home in Stockton, California: $500,000
(Sorry, I had to toss that last one in there.)
Also consider that now the app has been pulled from the store, it qualifies as a “rare,” and when it comes to collectibles, rarity = value. The price may be rising as we speak.
Old software and gadgets have inflated prices due to their rarity. And old cartridge version of Metal Slug for the Neo Geo now fetches $1,000. Here’s an old camera prototype that sold for $40,000. We all know about crappy comics, originally priced at pennies, that are today worth a mint. Based on the ridiculousness of the free market, that app might actually be worth something someday.
Ultimately, you have to have faith in the free market. If this app is really as stupid as most of us believe, very few people will buy it, the developer will axe it, and get to work on something actually useful. But let the market decide.
Update: Looks like a few people did in fact buy the app over the day or so it was available.
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September 4, 2008 at 7:38 pm
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