Posted By:
Bottom of the NinthMark
The fair market value of any collectible, almost anything for that matter, is determined solely on the price someone is willing to pay for that item at that particular time. The process is entirely subjective and values are constantly changing. There are no laws or ordinances that dictate what something is "worth." It is entirely a free market when it comes to this stuff.
Not that I have any interest in defending Ryan but I am not sure I understand your logic. If the card does not sell for 200k plus the hammer then we can conclude that the item is not worth that right now, maybe ever, contrary to what the consignor feels or thinks.
Greg