Let's play: "what will it bring"...

[ficke]

Originally Posted by christiandk

It will bring 27k. It is worth 15k.

What it will sell for is what it is worth.

[christiandk]

Originally Posted by ficke

What it will sell for is what it is worth.

Not in the real world.

[ficke]

Originally Posted by christiandk

Not in the real world.

I think you have it backwards, reality, "the real world" is what it will actually , really sell for. Not what you think it should sell for or what you think it should be worth, but what you can actually get for it. Anything else is fantasy, dreaming, your own minds idea of value and worth.

I can not tell you how many times I have heard people tell me they need to get "X" for some thing because that is what they have in it, just does not matter how much you spent on it, what it will sell for is what it is worth.
Other side of value, you might think some painting you have is worth $200.00, if some one else is willing to pay $20,000,000.00 for it you would be a very big fool for selling it for what you feel it is worth.
The market, what some one is willing to pay, dictates the price and worth of something not your are my feelings or ideas.
That is reality.

[christiandk]

Ok ficke - I will give you that, but say that someone pays 40k for it - would that be the value? No, that would be stupidity or hype - Not much reason in todays market, and it will take very little to make it crumble, imo.

[ficke]

Originally Posted by christiandk

Ok ficke - I will give you that, but say that someone pays 40k for it - would that be the value? No, that would be stupidity or hype - Not much reason in todays market, and it will take very little to make it crumble, imo.

Stupidity and hype pricing is still market value, worth. Might not be sustainable but at the time of sell that is the worth of it and it would be just as foolish to sell for less as to buy at that price.

Here is some of my personal experience.
I sold my 1967 911S in 2008 at the "height" of the market. I felt shrewd and smart for not buying into the inflated foolish prices at that time and sold a great car for what I thought was a stupidity and hype price of $47,500. Today that car would sell for North of $200.000.
I do not pass judgement anymore on some one else's view of the value of stuff, because I have been wrong so very wrong.

[trader220]

The only real measure of value in this case is what someone will pay for it at that time. The market has spoken.

Its not a stock vehicle so there is no fungible substitute.

Believe me, after 20 years of being a floor trader, the market does not care one bit what price you're long or short from. When you want to close your position the market is what it is.

A classic: Edited for this conversation...

Bud Fox: You once told me, don't get emotional about a car. Don't!

The bid is 36,200 I advise you to take it.

Gordon Gekko: Yeah. Well you TAKE IT!


Technically he should have said "hit it" since he was a seller but I digress to my former career.

[nathanbs]

Originally Posted by ficke

I think you have it backwards, reality, "the real world" is what it will actually , really sell for. Not what you think it should sell for or what you think it should be worth, but what you can actually get for it. Anything else is fantasy, dreaming, your own minds idea of value and worth.

I can not tell you how many times I have heard people tell me they need to get "X" for some thing because that is what they have in it, just does not matter how much you spent on it, what it will sell for is what it is worth.
Other side of value, you might think some painting you have is worth $200.00, if some one else is willing to pay $20,000,000.00 for it you would be a very big fool for selling it for what you feel it is worth.
The market, what some one is willing to pay, dictates the price and worth of something not your are my feelings or ideas.
That is reality.

What's your take on a car that bids up to $110,000 at an auction but doesn't meet reserve, it's a no sale and then goes on 4-6 months later and either sells no reserve for $75,000 or goes for $140,000? I've seen both scenarios quite often. One auction on Bring a Trailer cannot be the measure of the market nor can a single live auction price. It's like world records in racing, they need to be backed up with several other supporting times before its considered bonafide

[ficke]

Originally Posted by nathanbs

What's your take on a car that bids up to $110,000 at an auction but doesn't meet reserve, it's a no sale and then goes on 4-6 months later and either sells no reserve for $75,000 or goes for $140,000? I've seen both scenarios quite often. One auction on Bring a Trailer cannot be the measure of the market nor can a single live auction price. It's like world records in racing, they need to be backed up with several other supporting times before its considered bonafide

My take is one car or one sell is never the measure of a market trend. Just as you concluded.
It is important to step back and try to see the "forest" and not get caught up on a individual sell/buys when evaluating market trends.

[trader220]

Always outliers in the market. The more date points you have the closer to the bell shaped curve you'll get on price distribution. Econ 101

[christiandk]

A classic: Edited for this conversation...

Bud Fox: You once told me, don't get emotional about a car. Don't!

The bid is 36,200 I advise you to take it.

Gordon Gekko: Yeah. Well you TAKE IT!


Technically he should have said "hit it" since he was a seller but I digress to my former career.[/QUOTE]

Nice!

[billh1963]

$22,750 with 18 minutes left

[christiandk]

Come on sweet 27!!!!

[enzo1]

High Bid USD $26,500 (Reserve Not Met)

[specialtyoneinc]

Fun game. Keep these going enzo1.

[Matt Monson]

Originally Posted by specialtyoneinc

Fun game. Keep these going enzo1.

Agreed. We can be the BaT peanut gallery lite.

[1979-930]

Originally Posted by 1979-930

Reserve not met.

I called It! What do I win?

[christiandk]

Originally Posted by 1979-930

I called It! What do I win?

Ha, no way. I won by 500 bucks!