[427TJ]

Point taken. I'd have to say that "true values" is a highly subjective term. Serious auctioneers have NO interest in the true value of a car, they only want the highest possible amount that can be quickly extracted from each item.

"True value" nowadays seems to depend on the amount of "stupid" money someone is willing to fork over in a televised, highly emotional pressure-cooker situation (gavel held high, about to DROP). In that case, a car's true value often has gone out the window--and is thus re-defined upward. It may be "stupid" to pay $125K for a questionable Daytona Yellow '69 Z/28 but every guy who has a '69 Z/28 knows his car is now worth more because of it.

Money + ego + competition between bidders + emotion + TV cameras + beautiful cars + beautiful women watching + kids telling dad to keep bidding = a great and dazzling spectacle, good entertainment, and solid profits.