Questions about the hobby

[buymycards]

Originally Posted by Goudey77

Winning a PWCC auction requires 20% premiums like the big houses. So just keep that in mind

What? PWCC doesn't have a buyers premium.

[Goudey77]

Originally Posted by buymycards

What? PWCC doesn't have a buyers premium.

Oh I didn’t mean PWCC adds a premium. If you want to win an auction these days you’ve gotta place a 20% premium on the bid price to have a chance. Overbidding is the new fair market value bidding.

[conor912]

Originally Posted by Goudey77

Oh I didn’t mean PWCC adds a premium. If you want to win an auction these days you’ve gotta place a 20% premium on the bid price to have a chance. Overbidding is the new fair market value bidding.

I think the way to look at it is as having future earnings baked into the price. Because in theory, if someone is willing to pay a price, regardless of what anyone else thinks of said price, that's the market value. Yes, it's a market of one, but that's all it takes.

[drcy]

Originally Posted by conor912

I think the way to look at it is as having future earnings baked into the price. Because in theory, if someone is willing to pay a price, regardless of what anyone else thinks of said price, that's the market value. Yes, it's a market of one, but that's all it takes.

I disagree that that is market value. In fact, in cases it isn't the market value because the one person willing to pay that much now owns it and is out of the market.

The general rule of thumb in analyzing a large group of number results is you start by throwing out the highest and lowest numbers, because, at best, they are outliers or extremes, and, at worst and commonly, errors, corrupted or garbage.

You should at the least have a second similar sales result before you call the 'record' price the standard. Because, except for in a tie, the record by definition means the exception.