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Well, apparently, the folks at Financial Times have been wondering the very same thing, and here is an article published a few days ago that considers some of these same issues. Some highlights of the article:
Some strange things happening in the world right now . . . I won't pretend to understand the economics of some of these auctions.
Thanks to Twitterer, TheSydneyTarts -- http://twitter.com/TheSydneyTarts -- for posting re the Financial Times article. It did address the issues that I had been puzzling about a few days earlier.
Jeff
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