快樂牛郎

sometimes you feel money is just a pile of paper
it's not as tangible as a bottle of wine

peter236

The French culture is like that. They are just a big hype.

BiscottiGelato

My fault, I read it wrong. I thought it was 1969. 1869. Then ya, the wine in there definately not drinkable. But the value is based on the historical significance. It's a museum piece essentially. Sothebys completely misjudged the base-price. They were judging it as a collector's item, as they thought nobody would want it because the wine is undrinkable. They never thought from the historical/antique perspective. As experienced as Sotheby is, major fail here.

快樂牛郎

My fault, I read it wrong. I thought it was 1969. 1869. Then ya, the wine in there definately not dr ...
BiscottiGelato 發表於 2010/11/1 15:01

not an expert on auctions

how does the base price matter as long as it's sold at fair value?

BiscottiGelato

not an expert on auctions

how does the base price matter as long as it's sold at fair value?
快樂牛郎 發表於 2010-11-1 15:49

Might lengthen the auctioning process? it ain't eBay afterall.

biggie

Might lengthen the auctioning process? it ain't eBay afterall.
BiscottiGelato 發表於 2010-11-1 16:28

If the item was significantly below fair value, it won't take long to reach its fair value anyways.