Quote:
Originally Posted by Snowman
I'm not saying that PWCC is innocent of all these accusations against them. And frankly, I find the owner to be very off-putting. All I'm saying here is that from a data abnormality perspective, there is nothing fishy about those 3 sales.
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That's because it flies in the face of how most people act. The typical buyer gets absolutely married to their purchase price (even though that shouldn't have anything to do with any future decision about if/when sell, except for tax purposes).
And the biggest psychological basis of that marriage is not taking a loss. Especially a noticeable one in a short period of time. It's actually kinda fascinating, how if something is likely going from $40 to $1, the person who paid 30 for it is happy to sell (while the one who paid 60 will probably hold on w/ blind hope). Even though all that matters at that point is what will happen in the future. Anyway, I digress....
This is why I find those sales suspect. Sure it's highly circumstantial evidence, but it's hard to believe that two consecutive people immediately dumped something that they just bought in the next available auction. It's not really a spot where a panic from the market dropping dictates someone's frame of mind as much.