Shrinking Buyers Premium ?

[Snapolit1]

Interesting indeed.

Why does Las Vegas exist? Because human beings are generally flawed decision makers, particularly where emotional needs and hopes are thrown into the equation.

But I learned along time ago that basic economic theory 101 has no application on this board. Everyone is a perfect calculated decision maker ……

[raulus]

Originally Posted by Snapolit1

I learned along time ago that basic economic theory 101 has no application on this board. Everyone is a perfect calculated decision maker ……

Hell yes!! It’s those other morons that are the problem. Mostly the modern goons.

[Casey2296]

Originally Posted by Snapolit1

Interesting indeed.

Why does Las Vegas exist? Because human beings are generally flawed decision makers, particularly where emotional needs and hopes are thrown into the equation.

But I learned along time ago that basic economic theory 101 has no application on this board. Everyone is a perfect calculated decision maker ……

I have a hard time basing my love of a hobby on Econ101, same when I cook at home, I can provide sustenance with the cheapest cut of meat and a glass of water, or, if I can afford it, I might buy a nice ribeye and a bottle of wine.

[Exhibitman]

It's not econ, it's psychology. I wrote a column on this a while ago.

https://open.substack.com/pub/adamst...utm_medium=web

One thing most people forget when ranting about BP is the other side of the equation. A consignor with a $100K+ card to sell frequently negotiates for a chunk of the BP. The consignor may be getting 105%-115% of the hammer price if the item is good enough.