3 ms·
While I cannot hazard a guess to intention, a lowish estimated price is beneficial in at least two ways: 1) Put's more heads through the auction house door. On
by wamatt 14y ago
While I cannot hazard a guess to intention, a lowish estimated price is beneficial in at least two ways:
1) Put's more heads through the auction house door. One group could be searching for a bargain while another group benefits from increased perceived affordability (even if it ultimately ends up being illusionary). More bidders on the floor drive competition and maximize the closing price.
2) Allows others to feel the item is undervalued, and hence provides an opportunity for positive comment. If most said it was overvalued, that would create negative commentary and hence an undesirable perception of the brand (PG is this instance). If priced according to what the market roughly perceives as accurate, it generates less discussion, or action.