Quote:
Originally Posted by lancelot link
...it takes two to not only tango but to achieve a price in an Auction.
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Indeed, an auctioneer who I know well says that the underbidder is the most important person as it is they who set the hammer price.
She concedes that a reserve plays a part, but if an item doesn't sell, then the reserve was too high for that lot on that day.
This car sold, ergo it was worth hammer plus commission to whomever bid on that day at that time. Whether that is more or less than the seller had hoped for is irrelevant...rather like the point that rochdaleGT was trying to make.
Looking at this with a more open mind (rochdaleGT, that's a hint), many objects have a monetary value that is greater than the sum of their component parts. This is because they can bring pleasure, happiness and joy (rochdaleGT, you may wish to consult a dictionary). These feelings are beyond value, so if the new owner experiences any of them, he has himself a bargain.
Go on, rochdaleGT, make us all happy; put a monetary value on joy.