I don't know much about auctions. I sometimes go to previews and see art sardined into ugly rooms. I've gawked at the gaudy prices and gaped at well-clad crowds of happy white people conspicuously spending hundreds of millions of dollars.
Situational unawareness in the private marketplace or on the battlefield will cost you your livelihood or your life. In the Age of Obama however such willful ignorance is a job prerequisite. The less you know the better.