wayman Posted October 8, 2014 Share Posted October 8, 2014 Hammer price including buyers commission adds up to a total price of 4,400 pounds or about 5,550 euro. The one listed in the add has an asking price of 6,000 euro. A difference of a little under 10 %. Sure, but there are psychological factors playing into the auction Jeffries selling as it did: 1, people tend not to factor in commissions, taxes, and other fees when doing quick mental math. They're aware of these add-ons, but when comparing prices there's a tendency to forget about them. 2, once a person places a bid in an auction at a low amount, they feel some level of attachment and commitment and that leads them to keep bidding. "Well, I was willing to pay 2000 euro, so of course I'm willing to pay 2100 euro, it's only another hundred! ... 2300! ... 2500! ... ... ..." 3, when a person sees others value something they want, they tend to value it more highly themselves. "I can't lose this now, I'm so close to having it! It's worth another 500 euro!" With an item sitting on a shelf (or in an advertisement) with a fixed price tag, none of these factors is in play. Quote Link to comment Share on other sites More sharing options...
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