You don't miss out on one of your top targets for the sake of £5 million IMO.
If we were miles away from Liverpools valuation then fair enough but not when we are so close.
Did you pay more for your house than you thought it was worth? because you might miss out on it?
You might have paid more than the asking price to secure it, but only to the point you personally believed it was 'worth it'. That's the whole point. If that figure goes too high, eventually the balance tips, and you say 'we really love the house, but that IS our limit - sorry'.
If the house was up for 100K and you paid 110K because you loved it so much and wanted to grab it, then 100K wasn't your limit was it? 110K was. If the seller wanted 120K, you would probably say 'nah, that really IS too much'.
If you really loved a car, and a salesman knew it, he'd exploit that and you'd end u paying more than you needed to, but that's ok as long as you're happy to pay it. But at SOME point, as much as you wanted it, if you thought he was taking the piss, you'd say no right? That's our whole point. We don't know what that limit is for City, but if it's 45m, and Liverpool take the piss with 50m we have to say no. It's not 5m we're happy to pay, it's 5m well above the tipping point for us.
As I say, we don't know the actual figures, it's the principle of 'oh go on, be a mug and let us rip you off for more because you REALLY REALLY want this player'.