[urq] Automobile magazine - other misinfo
Brandon Rogers
brogers at terrix.com
Mon May 16 12:12:26 EDT 2005
Baloney.
Value is specifically defined as what a willing buyer is willing to pay and
what a seller under no duress will sell for.
If you were talking about a Ford Taurus that may be true - but we're talking
about rare cars (only 65 imported into the US in 1984) - each one is
different by now. By your logic if 5 ur-quattros all sell for $10,000 on
ebay then each buyer paid over-market value. On something this rare (where
you have very few choices to buy from, and a very small buyer pool)- that
_defines_ the market price. You can't just go down to the used car lot and
pick up an ur-quattro. Just like I can't put a for-sale sign in the window
of my car and expect to sell it.
Brandon
----- 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 12:19 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/
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