Quote:
Originally Posted by McLovin
Not to belabor, but I'm trying to understand what you're saying there.
Because assume the auction runs, and bidders drop out until there's only 2 bidders, you and the shill. You bid $50. He bids $55. You bid $60 and win.
Market was really $45 or $50. The shill bid was phony, a false indication of the market, and you ended up paying $60, above market. No?
|
Market price is what some one is willing to buy for and sell for, so if the seller shill bids up the price above $50 then the seller was not willing to sell for $50 and it was not the 'market 'price.