The answer to your question is very simple: the market price is the price you can buy or sell bitcoins for on the market at a given time. In the case of the auction the given time would be the time someone actually places their final bid(s). Because once you decide to make a bid you look at the current price on the exchanges and then figure out where you are going to place your bid relative to that. You will probably also look at the direction the price is heading and your bid will be lower if you think it's going down short term and higher if you think it's going up. So $600 per coin would have been above market most of the time people could place their bids and $500 would be below market. Is this all really that hard to understand? Are you an idiot?
Ok, let's say someone bids $550 right now. Are they below market or above market? There is no CLOSE OF THE MARKET DAY in bitcoin like there is in stocks. What if price falls to $520 by 6:05pm ET today? Or shoots up to $630 by 1AM ET Saturday morning?
I think ShroomsKit's point is pretty clear, and your's isn't. Who's the idiot now?
You are the idiot clearly. I'm not sure if bids are still open for the auction but if someone would bid $550 right now yes it would be considered below market. If you still don't understand whatever man, I will let you idiots continue this fruitless discussion.