During wars, planes would fly into battle, with unfortunately only some returning home. Those that did return might have bullet holes as indicated above. So, the thought would be, let’s fortify those areas to minimize that damage.
Yet, is that the correct thinking? What about the planes that didn’t return? Would it be better to consider those and fortify planes — where the returning planes had no damage? So said Dr. Abraham Wald, Ph.D. Mathematics (Columbia University) in the late 1930s.
Similarly, we might note (for example) the case Kline v. Fineberg, 481 So. 2d 108 (Fla. Dist. Ct. App. 1985) where the court ruled that a bid was to be rightly reopened after “Sold!” The suggestion typically follows that this is proof that reopening the bid is prudent — if not expressly recommended.
Yet, we look at only the successful side of this case to justify our future behavior? How about all the other cases you’ve not heard about where reopening was ruled unconscionable? Maybe more importantly, have you considered all the expenses and stress related to this [type of] litigation?
Wald’s theory is that while we are looking at the successes (and the successful aspects of cases) we should be noting the unsuccessful cases (and the unsuccessful aspects of cases) to model our behavior. We previously suggested this here: https://mikebrandlyauctioneer.wordpress.com/2021/06/10/court-cases-and-one-important-lesson/.
Over the years, we’ve noted that auctioneers should remember that losing in court is the worst, winning in court is better, but staying out of court is best. Merely, looking at successes (wins) ignores the goal of avoiding court: https://mikebrandlyauctioneer.wordpress.com/2018/07/26/auctioneers-you-want-win-in-court-or-stay-out-of-court/.
Which pilot are you listening to? The one who’s flying back from court telling you that you should get in his plane and take your chances, or a pilot trying to tell you to be wary of flying into battle — until your plane is properly fortified — given some of those other planes haven’t returned …?
Mike Brandly, Auctioneer, CAI, CAS, AARE has been an auctioneer and certified appraiser for over 30 years. His company’s auctions are located at Mike Brandly, Auctioneer, Brandly Real Estate & Auction, and formerly at Goodwill Columbus Car Auction. He serves as Distinguished Faculty at Hondros College, Executive Director of The Ohio Auction School, and an Instructor at the National Auctioneers Association’s Designation Academy and Western College of Auctioneering. He has served as faculty at the Certified Auctioneers Institute held at Indiana University and is approved by The Supreme Court of Ohio for attorney education.
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