Restored Honus Wagner at SCP Auctions

[benjulmag]

Originally Posted by Aquarian Sports Cards

It is my feeling that an item should always sell for one bid more than the second most interested party is willing to pay. I find anything that interferes with that anathema to the auction process.

This to me is the classic definition of market value, and I wholeheartedly agree that a realized price reflecting only one bid above a house bid or reserve price is not indicative of true market value. When the realized hammer price is the stated reserve (i.e., the item actually sells), at least in that instance the market has been put on notice what has taken place. That stands in contrast to a bid above a hidden reserve, which, even though stated in the rules as allowed to take place, is more deceptive.