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[raulus]

Originally Posted by Peter_Spaeth

Well, undoubtedly there is some of that, especially very late at night, but I still think for the most part they do understand how their bid will translate into a final price..

I don’t disagree with that concept.

I just think that the math isn’t the most important part of the calculus.

The most important part is the jonesing and coveting.

That and the realization that all of this restraint leads to losing just about every auction, because some other bidder is willing to be less restrained.