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<blockquote data-quote="AAOK" data-source="post: 122807" data-attributes="member: 861"><p>Interesting Philosophy; the auction being the best place to get a true value.</p><p></p><p>I've been to a few Farm Auctions, and seen old, worn out junk sell for more than the price for new. Ever been to a Pie Auction? O.K., bad example, they are usually fund raising events. How about a Sherriff's Auction: usually poorly advertised, and attended only by insiders. Cars, Houses, Guns sell for pennies on the dollar. My dictionary defines value as the "fair" return for something exchanged. Most auctions I've seen, whether it be the frenzy of the crowd, all the planted bidders, or the secrecy of the event, are anything but "fair". They do give you the "market worth" of the attending group, but what can you compare it with, as done in an appraisal? </p><p></p><p>Now, a one-on-one negotiation between a buyer and seller; that's a different story. They can deal in terms of the tradeoffs between competing alternatives as observed through measurable quantities such as input, price and output. In short, nobody gets "taken". A mutual agreement is reached without alteration from forces outside of the two parties.</p><p></p><p>Think about this the next time you go to an auction. This is precisely the reason the commercial cattleman has no control over his own product.</p></blockquote><p></p>
[QUOTE="AAOK, post: 122807, member: 861"] Interesting Philosophy; the auction being the best place to get a true value. I've been to a few Farm Auctions, and seen old, worn out junk sell for more than the price for new. Ever been to a Pie Auction? O.K., bad example, they are usually fund raising events. How about a Sherriff's Auction: usually poorly advertised, and attended only by insiders. Cars, Houses, Guns sell for pennies on the dollar. My dictionary defines value as the "fair" return for something exchanged. Most auctions I've seen, whether it be the frenzy of the crowd, all the planted bidders, or the secrecy of the event, are anything but "fair". They do give you the "market worth" of the attending group, but what can you compare it with, as done in an appraisal? Now, a one-on-one negotiation between a buyer and seller; that's a different story. They can deal in terms of the tradeoffs between competing alternatives as observed through measurable quantities such as input, price and output. In short, nobody gets "taken". A mutual agreement is reached without alteration from forces outside of the two parties. Think about this the next time you go to an auction. This is precisely the reason the commercial cattleman has no control over his own product. [/QUOTE]
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