Quote:
Originally Posted by danmckee
I spoke to Bill on the phone tonight, he guaranteed me that they cannot see who is bidding or how much. It is just a misunderstanding.
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Nice try.
No, it's not a misunderstanding at all. We understand exactly what is going on. You can try to spin this, but in the end a pig with lipstick on is still a pig.
Reality: The house account that is "bidding" is driving up prices for the other bidders.
Reality: "they would just be like another bidder" umm.... no. They would NOT be just like another bidder. Because they are not paying the buyer's premium like everyone else (OK, they are, but if they are paying the premium to themselves, they are not really paying it at all. Them claiming they are paying it is pure baloney.) So for a house account bidding, the playing field is not level. The house account is getting essentially a 17.5% discount on all items, since they do not pay the premium. Definitely dishonest and unethical.