[SunRescue] Sun and Ebay

[RogerWalkuprwalkup at cheqnet.net]

scohen - Stephen Cohen wrote:

> >Another sign that embay is becoming less and less of
> >a place to find fair prices...
>
> This remark goes far deeper than one might imagine.  It begs the question
> "What is a fair price?"
>
> The whole point of an auction is to extract not a penny less than the
> purchaser is willing to pay.  In this strictest sense, the market is very
> efficient and fair, i.e., if the purchaser is willing to pay, then it is a
> fair price to _that_ purchaser.
>
> However, part of the market's efficiency is determined by the amount of
> available information and by how that information is interpreted.  Given
> that certain, requisite information isn't always available, then the market
> becomes less efficient.
>
> The above remark should be restated as "Another sign that Ebay is becoming
> less and less of a place to find INFORMED prices ..."
>
> Regards,
> Steve
> _______________________________________________
> Rescue maillist  -  Rescue at sunhelp.org
> http://www.sunhelp.org/mailman/listinfo/rescue

In addition, people get into auction fever.  Some people get so into it that
they bid far more than the object (what ever) is worth.

Roger