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<p>[QUOTE=&quot;Tejas, post: 8322637, member: 84905&quot;]I don&#039;t think that our positions are that far apart. We all formulate price estimates in our heads before bidding on a coin. For the Maximus above, I thought it would fetch around 350 to 400 and was hence surprised to get it for 280. However, there is objective value. A coin that is rubbish to one collector can be highly valuable to another.</p><p><br /></p><p>You could of course go to acsearch and look for all EF rated Maximus denarii of the Pietas type and calculate an average price. This average price may be called &quot;fair value&quot;. However, you will likely find a large variance around that average price. </p><p><br /></p><p>While I would explain this variance by such things as toning, style, eye appeal, you would probably argue that the price variance is due to the random composition of the group of bidders that considered the offer. I think neither is wrong, it is just that I think that the first is (increasingly) more important than the latter.[/QUOTE]</p><p><br /></p>

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