Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Ancient Coins
>
Bizarre auction prices ...
>
Reply to Thread
Message:
<p>[QUOTE="Tejas, post: 8320516, member: 84905"]The concept of "fair value" is valid, but only for homogenous goods (bonds, stocks, crude oil, bushels of wheat etc.). In my view, there is no fair or unfair effective price of an ancient coin, each one of which is essentially unique. Auctions are the most efficient places for determining price/value. </p><p><br /></p><p>You imply that the price was "unfair" (i.e. different from fair), thus suggesting that the auction was inefficient (in economic terms). You suggest that only a few people looked at the Peus auction and that the unfair price resulted from the random compositon of this small group. I think with the modern auction aggregators, essentially the entire global community of coin collectors looks through each and every one of the major auctions.[/QUOTE]</p><p><br /></p>
[QUOTE="Tejas, post: 8320516, member: 84905"]The concept of "fair value" is valid, but only for homogenous goods (bonds, stocks, crude oil, bushels of wheat etc.). In my view, there is no fair or unfair effective price of an ancient coin, each one of which is essentially unique. Auctions are the most efficient places for determining price/value. You imply that the price was "unfair" (i.e. different from fair), thus suggesting that the auction was inefficient (in economic terms). You suggest that only a few people looked at the Peus auction and that the unfair price resulted from the random compositon of this small group. I think with the modern auction aggregators, essentially the entire global community of coin collectors looks through each and every one of the major auctions.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Ancient Coins
>
Bizarre auction prices ...
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...