ebay finds that PWCC engaged in shill bidding?

[Mark17]

Originally Posted by egbeachley

Except that after that sale occurs, that buyer is no longer in the market and the “price” becomes what the next person will pay. And now we are back to the auction scenario of second highest bidder plus one increment

I see your point. In theory, replay that auction with the high bidder out of the picture and the top guy left is the under bidder.

Now, I have something else to consider regarding market "price" vs. market "value." Suppose you consign a card to an AH, they charge you 10% commission. High bid is $100, so the bidder pays $120 with the 20% BP. The price to the buyer is $120, but the net value to the seller is $90. So what is the value of the card? According to this auction result, you can get $90 for it.

[BobC]

Originally Posted by Mark17

I see your point. In theory, replay that auction with the high bidder out of the picture and the top guy left is the under bidder.

Now, I have something else to consider regarding market "price" vs. market "value." Suppose you consign a card to an AH, they charge you 10% commission. High bid is $100, so the bidder pays $120 with the 20% BP. The price to the buyer is $120, but the net value to the seller is $90. So what is the value of the card? According to this auction result, you can get $90 for it.

Except maybe not every potential buyer was aware of or participating in that first auction. Or other bidders in that first auction were focused on other cards then and next time would focus on the particular card in your example. Or who says that first buyer didn't feel they got a bargain and goes after the same card again in the next auction (lots of collectors have multiples of the same card). And so on and so on...........

I think typically people consider the value of something as what they pay for it, not what they net from selling it. Market value and market price are kind of the same thing. You're talking more market price/value versus net price/value. In your example the value of the card would probably be defined as what was paid for it......$120.