Simply not true Snorky and silly when there is clear comparitive tenements or mines around and a calculable way to value it. Like someone said about the Mona Lisa. If I offered $100 and no one else offered more does that mean it 's only worth $100. Why does anyone ever pass their house in at auction? That is just a textbook general saying that only applies to certain things or situations and it's naive to assume it applies to avb or anything else for that matter.