What is an Estimated Value?
This estimate is provided by photo-eye independently of the owner of the auction item, to give you a sense of the value of the item (in the condition described). The winning bid is expected to fall somewhere within the estimated range. However, auctions have a life of their own wherein value is often re-defined. The estimate provided may give you a sense for the auction reserve, which is based on the owner's sense of the item's minimum value.