In our article about tag (estate) sales, we noted that at an auction, everything sells for market value. We made this statement without any qualification. In other words, Auction price = market value.
We ask here, “Does anything sell at auction for less than market value?” Would it be possible for anything sold at an auction to be sold below market value? Can people buy things at auction, and then later sell for a profit, and that ultimate selling price be considered market value?