25 May
2005
25 May
'05
2:54 p.m.
William wrote:
I believe that both you and Eric missed the point of
my remark, which
was simply that there was in each case another individual who was
willing to pay essentially the same price at which the auction closed,
therefore there was a market, however small, in which the exhorbitant
closing prices of those G-15 document auctions was in fact the "correct"
market price.
That's not what you said. You said:
In all fairness, the prices he pays are only
marginally more than the
runner-up bidder,
Literally true, but only because that's always true on eBay.
so he's not the only one driving up the prices.
Also literally true, but you seemed to be trying to imply that if an
eBay auction has one person bidding $x for an item, that adding
a second person bidding at $x doesn't drive up the price, which is
false for the reasons I gave previously.
Eric