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<p>At the auctions I have been to, it seems to me that there are a
lot of "shill" bidders and even "ghost bidders present. I usually
stand near the back and watch for this kind of activity. If I see
it, I leave.</p>
<p>Phil in TX<br>
</p>
<br>
<div class="moz-cite-prefix">On 12/22/2019 11:42 AM, Cecil Bearden
wrote:<br>
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<p>My experience is that if I find something that no one wants at
an auction, there will always be someone who bids against me. I
bought my swather trailer at an auction for $750. Only one
other bidder. I had to move the 2 swathers that I had bought at
the same auction. I asked the guy if he wanted to buy it when I
got my swathers hauled. His reply was that he would give me
$500 for it if I would haul it a hundred miles south to his
lot. I won't print what I told him to do. I would have liked
to return the favor when he was bidding again, but I refuse to
lower myself to that level.<br>
This is the reason I do not like auctions.</p>
<p>Cecil<br>
</p>
<div class="moz-cite-prefix">On 12/22/2019 10:40 AM, Bill Brueck
wrote:<br>
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<p class="MsoNormal">While I didn’t have a name for this,
either, I have wondered about my own sense of the value of
something at auctions. I found myself willing to buy
something at a price and then being aware that I wouldn’t
part with it for that price, or sometime quite a bit more,
even factoring in when I was maxed out on the bidding
price. Having become aware of this, I am more inclined than
I used to be to accept offers at the auction for part of a
lot that I just bought. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Indeed, “know thyself” is good and
reading about endowment effect helps with that!<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Bill Brueck<o:p></o:p></p>
<p class="MsoNormal"> Pine Island, MN USA<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> AT <a
class="moz-txt-link-rfc2396E"
href="mailto:at-bounces@lists.antique-tractor.com"
moz-do-not-send="true"><at-bounces@lists.antique-tractor.com></a>
<b>On Behalf Of </b>Spencer Yost<br>
<b>Sent:</b> Saturday, December 21, 2019 11:13 PM<br>
<b>To:</b> <a class="moz-txt-link-abbreviated"
href="mailto:at@lists.antique-tractor.com"
moz-do-not-send="true">at@lists.antique-tractor.com</a><br>
<b>Subject:</b> [AT] Antique tractors that are too
expensive<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal"><o:p></o:p></p>
<div>
<p class="MsoNormal">We have all seen it: the tractor the
seller is asking way too much for. Or conversely; why
buyers don’t show up for our obviously wonderful tractor
that we post in EBay/Craigslist/whatever.<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
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<div>
<p class="MsoNormal">So listening to podcasts tonight, I
ran across a podcast that was discussing many things,
including a discussion with a psychologist from Berkeley
who was explaining the “endowment effect”. I was unaware
of this. <span style="color:black">Though I had intuited
it many times I did not know it was a “thing”.</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="color:black"><br>
<br>
</span><o:p></o:p></p>
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<div>
<p class="MsoNormal"><span style="color:black">Long story
short it</span> explains why people often seem to ask
way more for a tractor that I’m willing to pay.<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal"><a
href="https://en.m.wikipedia.org/wiki/Endowment_effect"
moz-do-not-send="true">https://en.m.wikipedia.org/wiki/Endowment_effect</a><o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal"><a
href="https://scholar.google.com/scholar?hl=en&as_sdt=0%2C34&q=endowment+effect&oq=endowment+"
moz-do-not-send="true">https://scholar.google.com/scholar?hl=en&as_sdt=0%2C34&q=endowment+effect&oq=endowment+</a><o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">Interestingly, this is true
regardless of how long they owned it or whether it had
any other type (e.g. nostalgia) of value. <o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">Unfortunately, the podcast did not
describe how I, the buyer, could negotiate my way around
this.<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">PS: I will be that seller if I ever
sell the Pacer. (-;<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">Spencer<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal">Sent from my iPhone<o:p></o:p></p>
</div>
</div>
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