MaybeSo 6 hours ago
“We let the qualified buyers participate in a competitive bidding process and see where the market goes with it,” Devine told the Eagle. Doesn't this logic reflect the same expectation of gambling or buying a lottery ticket? You don't know if you are going to win big or if you're just going to come out even or lose your $1 investment.
I took this to mean that since these are such unique properties and many of them haven't been in the market since the turn of the century, they can't easily put a value on them as one normally would by doing a market analysis of similar properties. That being so, they are going to let interested parties bid on them and this will give them a more realistic idea of what the properties are worth to those who would be in the market for them. The Watchtower isn't gambling anything and must know exactly what their bottom Dollar amount is. For the purchaser, buying any property is somewhat of a gamble but not so much if he knows the approximate worth of the properties and knows what his budget can bear should the worst case scenario occur with the economy.
It's sort of like antique cars or certain collectors items, they are only worth what someone is willing to pay for them. and if you want them and you plan to keep them, you don't worry so much about their resale value in the immediate future.