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freemarkets and fixed markets
Posted by einv on December 18, 2017, 7:40 am, in reply to "I beg to disagree, that is an ineligible analogy "
The seller may just have one pen of the type or several pens of the same type. He or she might like the market to be free, that is unconcerned with past trends. When listing real estate for sale the listing agent is not obligated to list every other house they sold because in a free and not fixed market prices current and prices past have a weak correlation. If a pen sold in summer for $100 it may sell in the holiday season for $125 due to the demand due to gift giving. Another example is a pen that may have sold for $100 because of a few flaws is actually worth $125 in a pristine example, but the seller may have been lax to articulate why one pen is deserving of better prices, or simply does not know how to. And the buyer whose only guide is a less than representative two dimensional photo of a three dimensional pen has to make a decision based on the here and now and not past trends such as book published prices or the sellerís own published prices.
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