I walked into one of those stores that sells New York collectibles like taxi cab mugs and Statues of Liberty plus a wide selection of electronics. The cheaper of the two was a Sony microphone with a price tag of $129.99. This is not a way to run a business, even if you think you have the monopoly on a product or a service. The fact that Amazon sells the microphone for $9.69 likely means the retailer in New York bought it at wholesale for even less. Surely there are plenty of people who have come into that store and purchased it at the $129 price tag, which is nothing short of price gouging.

Source: Forbes May 07, 2018 15:59 UTC