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<p>[QUOTE=&quot;4to2centBC, post: 2780811, member: 76181&quot;]I hear what you are saying, but let me posit this</p><p><br /></p><p>You describe one transaction. It isolates a point in time. That equilibrium you describe is a moment in time between two purchasers for a unique object.&nbsp; As you are aware, a supply-demand line consists of multiple points that have been averaged to the best slope. It does not describe any one unique purchase. </p><p><br /></p><p>At the moment the hammer drops on an auction between two frenzied buyers, and the item in question sells for far more than the &quot;equilibrium point&quot;, someone has overpaid. Why, because the equilibrium has vanished. You now have a supply of one item at a very high price and no demand at that price. The only demand was the other bidder (who may have in fact been the seller) You have no assurance that anyone will pay more than the equilibrium point for a similar item.</p><p><br /></p><p>People overpay and underpay all the time. </p><p><br /></p><p><img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> Peace.[/QUOTE]</p><p><br /></p>

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