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[bijoem]

I'm not with you on this point.

I don't think people's willingness to pay is a good measure of something's worth (considering the willingness is guided by misleading sales tactics or puffery as you call it).

If I sell you fool's gold and tell you it is real gold.... and you and enough people buy it.... does that mean fool's gold value is the same as real gold?

Originally Posted by calvindog

Why were they worth pennies? If people were paying $100 for the cards than it seems like they were worth $100 at the time. If he was shill bidding or altering the cards to get them into higher graded holders your argument would have more merit. We have enough garbage running auction houses that perhaps before we go after the guys who simply engage in massive puffery we should focus on the guys who break federal and state laws while running their auctions. By the way, I'm not certain the Shamwow is worth $19.99 either -- but if someone is willing to pay for it because the guy hawking them is persuasive then so be it.

Oh and a disclaimer: I don't know anyone associated with Goldin Auctions, I've never consigned with him, partnered with him, or given him cards and watched with delight as he shill bid the cards through the stratosphere.