No such thing as overpaid. It's market value.
Jazz notify Wesley Matthews they will NOT match
- Thread starter Marty McFly
- Start date
No such thing as overpaid. It's market value.
Gyp Rosetti
Banned
So when ARod received 10 years, 250+M from the Rangers, and no one else was in the same ballpark, it's simply market-value? No.
The market is set after the offer is accepted. Therefore, the teams dictate the market, not the players. Sure a player can demand x years and dollars but until some teams ponies up, the market's not set.
It only takes one party to dictate market value.
Gyp Rosetti
Banned
So A-Rod's market value was what the Rangers set it at? For them sure, league-wide, not necessarily. But I guess you're right and teams never overpay.
Break it down to a more personal level. Put something on ebay for sale. It only takes one bidder to set market value.
Gyp Rosetti
Banned
Correct. And perhaps I'm diverging from the traditional definition of market value. However, for me, just because one team, or person in your example, chooses to pay much higher than anyone else would have for a "product" does not mean that is the actual value of that product on a larger scale.
Gyp Rosetti
Banned
It does not mean that that was the worth valuated by the market and hence an offer at that price came in. The price came in to set that market value.
Of course it does. Bro. It's like a Basquiat painting. Just because one person can afford to pay the price it goes for, does not mean, it's worth less then it went for.
Gyp Rosetti
Banned
So you'd pay 100K for a regular ol' Honda Civic?
I wouldn't. No.
What if someone did? Would that set the market value of Civics at 100k a pop?
It would set the market value of that particular Civic...yes. Who knows, maybe that specific Civic belonged to Al Gore or Ke$ha.