Ceylon Piha-kaetta (?)

ariel · 25th April 2009, 01:57 PM

I would not have guessed Ceylonese either, fail to see the importance of it and would not dream of bidding on it, but what the heck!
Bidders' frenzy took over and the seller cried all the way to the bank.
Obviously, bidders at Bonhams were much more sophisticated and knowledgeable than all of us combined. Good luck to the winner!
BTW, economists have a term: winner's curse. Somebody calculated that the true value of an auctioned piece is the mean of all individual bids. Thus, the winner always overpays. Statistically, of course.

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25th April 2009, 01:57 PM	#8
ariel Member Join Date: Dec 2004 Location: Ann Arbor, MI Posts: 5,503	I would not have guessed Ceylonese either, fail to see the importance of it and would not dream of bidding on it, but what the heck! Bidders' frenzy took over and the seller cried all the way to the bank. Obviously, bidders at Bonhams were much more sophisticated and knowledgeable than all of us combined. Good luck to the winner! BTW, economists have a term: winner's curse. Somebody calculated that the true value of an auctioned piece is the mean of all individual bids. Thus, the winner always overpays. Statistically, of course.