[urq] Automobile magazine - other misinfo

[Bruce Bell]

Brett, I would argue that the car sold. And if both buyer and seller are
happy with the price then it is a fair market value. Then again I see used
Borbet center caps sell on ebay for 2-3 times the price of new ones from
Tire Rack, so go figure!

Bruce 
 
-----Original Message-----
From: Brett Dikeman [mailto:brett at cloud9.net] 
Sent: Friday, May 13, 2005 12:20 PM
To: Ingo Rautenberg
Cc: urq at audifans.com; quattro at audifans.com
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/

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