Quote:
Originally Posted by Leon
Most seasoned collectors will pay what they will based on experience and how badly they want the item. I pay very little attention to estimates. I have seen item estimates that were $500-$800 go for 15k, and not as bad the other way, but still quite far off. I think it does allow the auctioneers to say they beat the estimates. As a practice we don't do that in our auctions but I understand the philosophy. Kind of like the "best offers" being discussed on the other thread, just not that big of a deal.
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So the only purpose of estimates is so the auction houses can brag that the item beat the estimate they came up with?