CA teamwork on Cbid!

Tredegar · 01-12-2012, 01:40 PM

I think this is called bid rigging. I am not a lawyer but I believe it is not legit, or ethical. There are plenty of articles about this on the internet. I remember a few years ago several philatelic dealers were convicted of bid rigging. They would agree to not bid on certain auction lots if another were bidding on said lot. They then would hold their own "private auction" of these lots. This went on for years until a disgruntled dealer informed the authorities.

By doing this, no matter how well intentioned, you hurt the auction firm by artificially keeping the prices lower than they might have been if the auction would have run it's course.

01-12-2012, 01:40 PM	#21
Tredegar Sing along with me Join Date: Feb 2009 Posts: 670 Trading: (9)	Re: CA teamwork on Cbid! I think this is called bid rigging. I am not a lawyer but I believe it is not legit, or ethical. There are plenty of articles about this on the internet. I remember a few years ago several philatelic dealers were convicted of bid rigging. They would agree to not bid on certain auction lots if another were bidding on said lot. They then would hold their own "private auction" of these lots. This went on for years until a disgruntled dealer informed the authorities. By doing this, no matter how well intentioned, you hurt the auction firm by artificially keeping the prices lower than they might have been if the auction would have run it's course.