A perennial question
Occasionally this feels like an economics discussion board
OK, can we say "Auctions & Bidding," way back in 1987?
Consider 🅰 INDEPENDENT-PRIVATE VALUES MODEL: 'At one extreme, suppose each bidder knows precisely how highly he values the item.'
Consider 🅱 ASYMMETRIC BIDDERS.
Once again, asked & answered
[just kidding]
Personally, I buy cigars low so I can light them with high denomination foreign banknotes! For the same cost as "retail" I can act out my fantasy of being "a swell"