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If you are obligated to offer something for a purchase price set by a valuation committee, you do not in practice own it. The committee, though ostensibly bound
by narcraft 3y ago
If you are obligated to offer something for a purchase price set by a valuation committee, you do not in practice own it. The committee, though ostensibly bounded by some rules or guidelines, nonetheless could set a price different from what the market would actually bear. If they're truly offering competitive prices then the rule requiring a coin-finder to sell at the committee-determined price would be unnecessary.
- mytailorisrich 3y agoWhat is a competitive price for such items? IMHO, either you sell at auction to find out orr you ask experts to value. Since the sale is not on the open market they picked the second option, which is reasonable.
- sbaiddn 3y agoWithout a market, there is no fair evaluation of value.
- mytailorisrich 3y agoThere is a market for ancient coins. Hence experts can give an estimate in the same way experts can estimate the value of antiques or art pieces.
- specialist 3y agoMarkets can determine price, not value.