HEY, BIG SPENDERS: MAKING SENSE OF GENEVA AUCTION WEEK 2017
It shames me, a militant capitalist who regards the Law of Supply and Demand as sacrosanct as the Ten Commandments, to bitch about the elevation of prices based on that rule of commerce. But of late, as with the pricing of hi-fi equipment and certain wines, things are getting out of hand.
To anyone bar a Communist, it’s blindingly obvious that if you have one of something and ten people want it, you have the makings of an auction. Bidding for an item is the most honest and genuine way to determine something’s worth: the value is set not by artifice, hype nor advertising. It is defined by unquenchable desire and the wherewithal to realise its purchase.