Quote:
Originally Posted by Jim Burrill
I think with our AFV hobby, it goes the other way... A high sales price of one, colors the expectations of the ones that follow.
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This is exactly my point Jim, that too many people out there will believe that this will become stone cold fact.
As Hanno suggests, one auction with single digit examples of a said product cannot accurately affirm value for future sales, although there will be persons out there that will hold this opinion that if it sold for X value thats what all subsequent sales will be.
In the statistics business, usually the highest and lowest numbers are scratched and the middle values averaged to obtain realistic prices. This goes for real estate as well, as you mentioned. A bankruptcy or Sheriffs sale is not a real indicator of consumer market pricing.
This is the main reason that we see items advertised for sale at ridiculous prices everywhere, just because unknowledgeable persons overpaid on places like Ebay as I have previoulsy suggested.
In any hobby, it is usually the mainstream collectors who set the market, not the fringe outsiders who bid prices up on items that they are unknowledgeable on.
Do you recall the discussion here recently on POW eBay cans?