We analyze a monopolistic model of quality uncertainty but

with the possibility of information acquisition on the consumer side. Infor-

mation is costly and its amount is chosen by the consumer. The analysis of

Bayesian equilibria shows the possibility of three equilibrium classes, only one

of which leaves positive utility to the consumer. The classic adverse selection

results of these markets are weakened in this situation. We show that cheaper

information does not necessarily benefit the consumer but can instead rule

out the buyer-friendly and welfare maximizing equilibria. Moreover, making

quality search arbitrarily efficient does not lead to sure selling of the high

quality product. A sustainable adverse selection effect, though weaker than

in the classical model, remains even in the limit.