Quote:
Originally Posted by Balticfox
I understand that stock and futures (e.g. commodities) markets are about as pure and efficient markets as can exist. I'm also fully aware that other kinds of selling fall far short of these in terms of purity/efficiency. Unlike you though I find this situation to be sad.
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I'm curious. If
1. You had a unique item of a former player, let's say a vintage game used jersey
2. You list it for $1000, then go to a movie
3. When you return home, you have 2 people wanting to buy it. The first, timestamped at 7:30, is an auction house that will buy to flip. The second, timestamped a couple minutes later, is from the player's son. Turns out the player passed away the previous week and the family is in mourning.
Would you hold to your rigid, dogmatic principle of how pure and efficient markets should work (first offer to buy gets the cheese,) or take a more human approach?