Re: estimates as self-fulfilling prophesies?

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Posted by Marvin Amstey on April 14, 1999 at 07:46:27:

In Reply to: estimates as self-fulfilling prophesies? posted by Yon Bard on April 14, 1999 at 07:24:00:

: Marvin started this Salon by wondering why the Ushak fetched as much as it was estimated to bring. That raises the question of how much are bidders affected by the estimates? In other words, might not there be collectors who, not trusting their own feelings about how much a piece is worth, are guided by the estimates and assume that they are paying a fair price as long as they stay within that range?

: Regards, Yon

You mention a valuable point; I'm sure such behavior occurs from an unsure purchaser. But what about those collectors with some confidence? How do they and the less sure operate outside of an auction - with a dealer or other collector? Marvin

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