Quote:
Originally Posted by MVSNYC
Drew- Less auctions, and more (high priced) BIN's have been a "thing" for years now...nothing new. I find it rather annoying. Just let the auctions fly! The bidders will determine true market values.
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I certainly have felt the same way in the past. As an amateur economist, I definitely found a strong attraction to having the market price be determined by bidders in an open auction format.
I think one of the factors that changed my opinion was the steep rise in auction final prices, and my consistent losing streak because some bidders were willing to bid up items to ludicrous levels. It got to be that auctions were no longer my fave anymore. On the flip side, with a BIN, if I really wanted an item, and the price was a price that I was willing to pay, then I could skip the drama of an auction, and skip the letdown of getting my hopes up just to lose in the end or having to exceed my original price point, and instead I can just buy it, with it landing in my mailbox within a few days.
The market is still determining the value. It’s just a market of one now, rather than the entire hobby having a crack at bidding it up.
Would I trade the current environment for the good old days of 2019? All day every day! But since the good old days don’t seem to be coming back anytime soon, I suppose it’s my way of making peace with it, while continuing to collect pieces that bring me joy.