Is it shady?

Dana

In Memoriam - RIP
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to auction off something for a much higher price that it would normally be valued for? Even if it is for a good cause? A friend is auctioning off a Sam Adams mirror and she priced it for 360$... I'm sorry NO mirror is worth that much money. Besides I Googled it and found one site with a price 10 dollars cheaper than er valued pricve then one on ebay labelled NEW only going for 50 bucks... I dunno I'd feel ripped off. 360 dollars isn't pocket change.
 
case in point: Auction at the Clara Barton (founder of the Red Cross) home a few years ago and they had a painting there that someone was interested in, the bidding started at a modest amount of $20, it jumped up to nearly $1500, but since all the monies went to the charity (or, so we were told) the people in the bidding war was enjoyed because of this. Needless to say when I wrote my check for the winning bid I was told it could be used as a tax deduction. I didn't really care about the tax deduction as I knew someone would really enjoy the painting. so, yes prices can get inflated due to those reasons as well and some people pay more because it is going to a charity or (both) they take advantage of the tax deduction. so, "shady" is not appropriate here.
 
The fact of the matter is that the money being raised it going to charity which could be a good thing. The person who buys the mirror is probably not going to worry about what they purchased as I am sure that was already mentioned in the above replies.
 
I don't think it's shady, especially if it's for charity.

:homo:

I've given away free 50 minute massages (worth 50$ prior to tax) to silent auctions, and they sell them for twice if not more than they are worth. People who bid/win know they overpaid.

I would say it's shady if someone bought said mirror for 500$ and 350$ of that went back to the person who bought the mirror, and th rest went to the charity.
 
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