Quote:
Originally Posted by egbeachley
Except that after that sale occurs, that buyer is no longer in the market and the “price” becomes what the next person will pay. And now we are back to the auction scenario of second highest bidder plus one increment
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I see your point. In theory, replay that auction with the high bidder out of the picture and the top guy left is the under bidder.
Now, I have something else to consider regarding market "price" vs. market "value." Suppose you consign a card to an AH, they charge you 10% commission. High bid is $100, so the bidder pays $120 with the 20% BP. The price to the buyer is $120, but the net value to the seller is $90. So what is the value of the card? According to this auction result, you can get $90 for it.