Scaling

Last August, I had a conversation with a colleague that stuck with me. We were talking about whether auctions actually find true market value. My argument was simple: how can it be true market value when maybe 5-10% of potential buyers ever see our marketing? We’re calling it market value based on whoever happened to show up. I wrote about it at the time. My answer was to build communities, find your own lake, pursue smarter marketing instead of more marketing. I believed it. I still do. But six months later, I think I was thinking too small. ...

Building better markets instead of chasing perfect prices Let’s talk about something every auctioneer thinks about: Are we actually finding true market value? I had an interesting conversation recently with a colleague about whether auctions reveal what something’s really worth. Sure, they can. But here’s what bothers me. We’re calling it “true market value” when maybe 5–10% of potential buyers ever see our marketing. How’s that the true value? This isn’t just theory. It creates real problems. ...