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My point was that in a normal situation the open market decides - anyone can make an offer. The true value comes out in the wash.
In a downwards renegotiation with a ‘trapped’ seller, through a quirk of fate only the buyer decides, there are usually no other buyers involved. The true value cannot come out in the wash because the buyer does not & cannot know. The only thing they do know is that it’s worth less to them than it was yesterday, which is weird.
Howard
It's always going to be partially a guess, isn't it? It's a guess on the way up, and a guess on the way down. The sum total of buyers and sellers guesses as to what things are worth at any one point in time makes the market.
It's a volatile situation at the moment which means some people are going to guess wrong.