> May I hazard a guess that you worked on low-value recurring auctions? It varies. In all cases, the value was below $20,000, in many cases the auction was non

> May I hazard a guess that you worked on low-value recurring auctions? It varies. In all cases, the value was below $20,000, in many cases the auction was non-recurring and >$1,000 (for example, specific web domains). I've seen enough smart people fumble a $1,000+ VCG auction that I'd be nervous to assume bidding would be any better at $100 million. I've also seen enough investors fumble $10m+ investment deals (not auctions though) to feel comfortable asserting that a higher value auction does not necessarily imply that the participants will be better at auction theory.