Word: markup
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Dates: during 1980-1989
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...What Taubman saw (and staider Christie's was not slow to pick up) was that an auction house could go directly to the public, not only at low price levels but also at very high ones. In the past, auction houses sold mainly to dealers, who put on their markup and then sold to their clients. People were shy of going to auctions; the whole apparatus of reserves, attributions, codes and bids seemed mysterious and scary. Scratch your nose at the wrong moment, the urban folktale went, and -- yikes! -- you've bought a Rembrandt...
...stamp history." The new 25 cents first-class stamps will be test-marketed for 30 days in Los Angeles, Chicago, Miami, Dallas, Minneapolis and ten other cities. One possible sticking point for consumers: a booklet of 18 first-class stamps is priced at $5, which includes a 50 cents markup to cover the cost of the new "special features...
...With the huge profits to be made, gunrunners are flooding the market," laments federal firearms agent Phil Chojnacki in Houston. "You take off one group, and another springs up." In fact, the markup on black-market firearms is not bad. A .357-cal. magnum that sells for $250 in a Dallas gun shop will bring $700 on the streets of New York. Just $300 will buy a semiautomatic in Florida, which can be sold at the Northern end of the pipeline for $1,000 or more...
...make full restitution to some 100,000 victims, who overpaid at least $13.7 million from 1978 through mid-1985. According to the Government's probe, which was first disclosed in January, Hertz paid wholesale prices for auto repairs but charged customers full retail price without advising them of the markup. In other cases, Hertz prepared phony repair appraisals and charged customers for work that was never done. Hertz says it has fired 20 employees who carried out the scam, including the company's accident-control manager...
...blood, along with the name of a legitimate Medicaid recipient. The Panshi labs would perform tests on the blood to generate legitimate-looking data, and the Government was billed as much as $2,000 a sample. Surplus vials of the blood were trafficked to other illicit clinics at a markup...