How are new and used car values determined?
#21
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I'd change that a bit.
Fair market value and "willingness" to buy/sell intrinsically go hand-in-hand. So, it might be said that an auction establishes "fair market value" rather than defies it......at least in the given window of time and with the given group of possible buyers.
I think it's more a case of the Ebay cars not fetching "book value".
Cheers
DD
#22
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"not hitting the reserve" isn't an indication of anything other than a seller's inability to part with an item due to a misconception of value. We've all had something that we thought was worth a lot because of some intangible quality. We've also all had something that we spent too much on and couldn't stomach the loss.
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