samsonn25
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June 22, 2014, 11:17:43 PM

I don't see how any logical bidder would pay even close to 95% of current market value for the coins. Buyers go to auctions to buy things at discount.

Every auction I've ever observed sold its wares for prices ludicrously over their market value. I think the average buyer thinks they're going to get a bargain because it's an auction. If everyone else thinks that then bargains go out the window.

I wouldn't want to make any predictions about this auction though. It's a unique happening.

These are blocks of thousands of bitcoins. The investors are not weekend garage sale hunters on a $50 budget.  They want an edge of 10 20 30% off because they have cash on hand.