Ann: MIN: Atlas Iron Ltd - Redstone Offer, page-124

If your right then $1 more is overpaying.

If you know the value of the item your buying and what it can do or make you then it is not overpaying provided the internal rates of return are high.

MIN had no skin in the game. He turned up to private sale, offered his own contract and terms and left no deposit. Oh his also put a breakfee on the contract of sale and owners must not shop around for a better offer.

Then someone offers a better price and he just can't match it because he has no cash to compete.