RE:RE:RE:calculationtinytot wrote:
Hence you make more money by over bidding than had you lost the bid at a low-ball price. Such a low-ball price seems obviously unrealistic.
But this example does show that it is very possible to make more by over bidding, even though your bid more than the final price.
Obviously both sides know what each other bid. Only the winner knows the final sales rice. Thus the winner can determine, because he knows what the lower bid was, if his decision was correct or not - even if he sold for more than he bid. But he is not telling that to the shareholders, for a good reason - he does not also want to tell DeBeers or the potential buyers.