He still set the market value of the painting.
I guess you don’t understand what market value is. You’re saying if I buy a car at a car auction and I get a bargain that becomes the market price.
Donkey donuts.
No, you bought it at wholesale as that is how auto auctions work.
Just stop.
Auto auctions are where dealers sell their trade in’s and turn in’s that are beyond the premium age/condition for selling at their own dealerships.
They are sold to dealers then who aim for the lower end market. They buy them at wholesale and sell them at retail.
If you’re talking about auctions for premium/rare/antiques then it’s a completely different market and that is where the market value for those vehicles is established.
What you are selling is worth whatever someone else is willing to sell it for. If you buy above the average selling price you just raised the average selling price.
This is illogical.
No, that’s simply how it works.
Values are not static, the average selling price varies as people buy or sell at or below that price.
FMV is determined by the average price of what similar items are selling for.
Right. Sure. I believe you. If you say so.
By all means show it to be incorrect if you can.
I just know that if I get a bargain at an auction that doesn’t make it the market price. I could sell what I bought at a higher price. That’s why some people go to auctions.
We could go to an auction and I could demonstrate this quite easily.
But alas, we are just Internet acquaintances.
And if you buy below the average price you will drag down that average price, that is how the market works.
A unique item like a particular painting has it’s own individual value and that will vary based on the value of it’s last selling price and current demand.
Donkey donuts. Selling prices at auctions are completely arbitrary. The same value item could be auctioned off every day and every day there would be a different final cost.
You aren’t even in the realm of making sense now.
Not if an idiot payed too much for it to begin with. I’ve actually seen this happen. People think they get a bargain at an auction and then have to take a loss when they resell because they underestimated the value.
And once again if you buy an item at auction above or below the average selling price for similar items you will either drag that average up or down.
If it’s a unique item, that value will always depend on what it sold for last time and the current demand.
It is worth exactly what you are willing to sell it for as a seller and worth what you as a buyer are willing to pay for it.
The president got a shiny medal.
Allan
In so far as previous administrations didn’t suspend military readiness exercises with SK, and didn’t legitimize NK with presidential visits, and didn’t hang pictures of the dictator on teh WH was giving him further legitimacy, they did better than trump.
- NK has had 2+ years of complete, unchallenged weapon development.
- The US and SK has suspended military readiness exercises, so we are less prepared to protect our ally today than we were two years ago.
- NK has the legitimacy of having face to face meetings with the POTUS, and has his picture hanging on teh wall of the White House, giving him stature and respect in the world.
Only one exercise was postponed during negotiations, that didnt’ legitimize them anymore than allowing them membership in the UN or negotiating with them otherwise.
All it did was offer an olive branch to show we were serious about negotiating an end to the war and denuclearization.
You people have bitched about every overture made by Trump to the Peninsula since he took office so it’s not like you have any credibility whatsoever on the subject.
I didn’t bitch about him sending delegates.
I did bitch about the suspicion of exercising, meeting face to face and hanging Kim’s picture on teh wall of the WH because I thought they were mistakes.
