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are auctions good deals?

I

ineedacomputer

Member
I went to an auction and saw lost airport bagages being auctioned off.
i wanted to buy the stuff BUT one baggage was selling from 60 to 200 dollars .
so i said 4 get it what happens if you open it and its just dirty clothes.
Do the auctioners know whats the value of the things inside the bag?
 
Typically, those auctions are for bags that no one has opened. It's a big bet.

But to answer your more general question, no, auctions are not good deals. By their very nature, auctions charge the very highest price that the market will bear.
 
Sure, they can be. And they can also be horrible deals. Just depends on how many other people are there that want the item.
 
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