An aside on #auctions & the value of #art.

Its often asserted that an auction sets the value of a work of art, by ensuring the person who values it most (and of course has the ability to pay) buys the work.

But, (and of course this is a bit of a technicality) what an auction actually demonstrates is the value that the under-bidder values the work at (and is not prepared to pay above);

we cannot know, with our further commuting bids how much the 'winning' bidder might have paid.

#arthistory

The new owner of Trinity, the first Tyrannosaurus rex skeleton ever auctioned off in Europe, has finally been revealed: https://www.manospondylus.com/2023/04/an-update-on-trinity.html

#dinosaur #dinosaurs #fossil #fossils #Tyrannosaur #tyrannosaurus #ManospondylusMonday #trex #paleontology #fossilcollecting #zurich #Switzerland #theropod #Auctions #dinosaurfossil #dinosaurskeleton #dinosaurskull

I had the great opportunity to get up close with Trinity, the first T. rex skeleton to be auctioned off in Europe. Read about it on my blog: https://www.manospondylus.com/2023/04/my-evening-with-trinity-first-t-rex-to.html?m=1

#dinosaur #dinosaurs #fossil #fossils #Tyrannosaur #tyrannosaurus #ManospondylusMonday #trex #paleontology #fossilcollecting #zurich #Switzerland #theropod #Auctions #dinosaurfossil #dinosaurskeleton #dinosaurskull

Ticketmaster and the secondary market for tickets, by Budish and Bhave #EconTwitter #auctions #highprices #repugnance #scalping #ticketprices
http://marketdesigner.blogspot.com/2023/02/ticketmaster-and-secondary-market-for.html

A 1958 'doubled die' Lincoln cent #error
has sold at auction for an incredible $1,136,250!

Read more:
https://www.numismaticnews.net/us-coins/1958-doubled-die-cent-smashes-records?utm_medium=email&_hsmi=243476372&_hsenc=p2ANqtz-_IzP-I4BvKXKWx0i2NflpT3KiPeuB0WcGCZwQqrh0vHUjEl880fqKDTmQr0ICAzLPPtNo3_n3tmRsbJYEQwXn1tWrxzw&utm_content=243476372&utm_source=hs_email

#numismatics #auctions

Watch as this spectacular and unique #Roman gold coin, a 10 aureii medallion of Diocletian (284-305 CE), hammers for $1.9 million last night at Triton Auction XXVI by Classical Numismatic Group in conjunction with the New York International Numismatic Convention (NYINC).

Video:

https://youtu.be/1-y84oSuNk4

Images:

https://content.invisioncic.com/k321387/monthly_2023_01/C1D5BA8F-0946-4DDF-A288-46B668E78708.jpeg.952a7a31d25de6b711b7c185551106bd.jpeg

https://content.invisioncic.com/k321387/monthly_2023_01/084DA37B-C12F-441F-BE8D-2B2E5E9CFE15.jpeg.c959502a5ed857409e511c64ac20ff81.jpeg

#numismatics #NYINC #auctions #CoinShows @archaeodons @histodons

The 2023 New York International Numismatic Convention (NYINC) is happening this week at the InterContinental Barclay in Manhattan. 100 specialist dealers in world and ancient #coins will be in attendance with a bourse open to the public beginning Friday (registration $20). A professional preview is scheduled Thursday ($125). #Auctions by several major firms are already underway. Details:
https://nyinc.info/
#numismatics #CoinCollecting #CoinShows

Leveling the stock market playing field: SEC proposals #EconTwitter #auctions #financialmarkets
http://marketdesigner.blogspot.com/2022/12/leveling-stock-market-playing-field-sec.html

Let's go back to my dad. He would say, "If you're not going to put out your own shingle as a psychologist, you should study the psychology of auctions." Serious wish the man was more prone to writing or recording because he had a lot of observation hours logged -- and thoughts about in-person auctions (high end and local ones) and Ebay and how it all changed. He too felt the impact of Ebay's ascent and then how it changed the value of previously rare items. #TheBooksellers #auctions

Alright, let's give this a try #introduction

I am an economic theorist at Berlin School of Econ interested in #mechanismdesign #auctions #pricing #marketdesign #schoolchoice

Soon I will "toot" about papers on behavioral market design and another one on optimal content monetisation in the creator economy.

I hope that this place can foster the field's community like @econd47 over at twitter, and I also hope that the human behind the scholar also shines through at times.