This is academic, but say you show up at the auction…the bidding becomes you vs. this other guy, and the place winds up selling for $1000 above the maximum price the loser of the auction thinks it’s worth. If the other guy thinks it’s worth 290K, you get it for 291K.
Bottom line: That guy may have gotten a steal, but you wouldn’t have gotten it for the same price he did, and may not have been anywhere near.
So, academically, you should feel better: This reasoned approach has always worked well with women…LOL.
