But, as in any marketplace, people and teams can ask whatever they want for a product that they are offering but when it comes down to actually consummating a sale the price will be wherever the market sets it. It is then up to the seller to determine whether the price is acceptable.
Real estate is another great example of this pricing mechanism, particularly in today’s market. People know what houses once sold for in the hey-day of the cycle and want those prices today.
They can choose to offer their home at those pre-financial crisis levels but it is ultimately the marketplace of buyers who will determine the value of the house.
Buyers of some NBA Playoff tickets are learning the same lesson as they try to resell them on the secondary market where they are being offered at a discount.
These charts show the details:
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