Quote:
Originally Posted by ooo-ribay
I’ve heard it said that the winner of any auction is actually the loser. By winning an auction, you have just demonstrated you were willing to pay more than anyone else on the planet. Outside of the hidden gems we sometimes find (usually due to poor descriptions, poor pictures or poorly listed), I think there’s some truth to this. We’re all a bunch of losers!  |
I realize this is at least partially tongue in cheek but, to the contrary, the winner of the auction is automatically a “winner”. That is, unless he has a specific intention to flip it and he predicts future market value incorrectly. Generally speaking, if a person places a max bid of $X, he personally values the item more than he values having $X. If he wins, he profits. And depending on the second highest bid, he may profit a lot. The difference almost kinda like cash back! Of course I’m not defining profit strictly in terms of cash. I profit every time I go to the store and exchange dollars for goods. Capitalism is awesome!