Study 190: What a Thing Is Worth When Nobody Will Buy It

Thirty nine studies of value in this corpus all begin with a completed transaction. This study examines the opposite case, the object nobody will buy, and finds that the market produces no zero but only silence: an unsold lot leaves no record, so every price series is assembled exclusively from successes. It reads the accounting standard on fair value as the one formal answer to the question, examines negative value and the closure of the destruction route, and closes on the selection bias in this institution's own evidence.