[urq] Automobile magazine - other misinfo

[Ingo Rautenberg]

That may be true in the narrowest of senses, except for a few things.  The
article you reference was from a period at the height of what Mr. Greenspan
would refer to as "irrational exuberance," (1999) -- something that I would
argue is not the case here and certainly not in Michigan.  Note also that
this is a commodity with a finite supply and not a piece of rare art or
representation of biblical persona in a sandwich.  If more and more good
clean examples are sold at similar prices, then this would indeed become the
perceived value.

Ingo

----- Original Message ----- 
From: "Brett Dikeman" <brett at cloud9.net>
To: "Ingo Rautenberg" <i.rautenberg at waratap.com>
Cc: "Brandon Rogers" <brogers at terrix.com>; "Pasqualoni, James E"
<james.pasqualoni at gs.com>; <quattro at audifans.com>; <urq at audifans.com>
Sent: Friday, May 13, 2005 2:19 PM
Subject: Re: [urq] Automobile magazine - other misinfo


>
> On May 13, 2005, at 1:38 PM, Ingo Rautenberg wrote:
>
> > I feel better.
> >
> > That makes at least two '84 Urqs that have (apparently) sold for
> > over 10k on
> > Ebay in the last month :-)
> >
> > Maybe Dennis should talk to his Ins. Co again ;-)
> >
>
> I posted about this in March when someone said something about A6 4.2
> values, and ebay was mentioned.  Any economics professor will tell
> you that auctions don't represent market value.  Google for "winner's
> curse", or read: http://slate.msn.com/id/21810/
>
> Basically, if you won the auction, you paid more than anyone else was
> willing to pay- and hence you didn't pay fair market value for the
> item in question.
>
> Brett
> -- 
> "They that give up essential liberty to obtain temporary
> safety deserve neither liberty nor safety." - Ben Franklin
> http://www.users.cloud9.net/~brett/
>
>


---
Outgoing mail is certified Virus Free.
Checked by AVG anti-virus system (http://www.grisoft.com).
Version: 6.0.857 / Virus Database: 584 - Release Date: 2/10/2005