Quote:
Originally Posted by Peter_Spaeth
Eric in theory you are right, buyers cannot lawfully collude to suppress price any more than sellers can collude to inflate it. Basic antitrust law. Of course, as a practical matter, it's going to be viewed as less important than seller price-fixing.
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Unless of course you're part of a group of stamp dealers that colluded over large lots offered at auction over several years AND were dumb enough to put the agreements in emails and/or written letters. Then fired an employee who wrote many of the emails and letters and who delivered copies to the authorities after his firing.
Yes, that actually happened and a number of people got into a lot of trouble.
http://www.ag.ny.gov/press-release/s...stamp-auctions
Done verbally between friends it's probably way too hard to prove in most cases.
I did however see it caught at a live auction. One bidder in the front row turned to his competition and said "let me have this one and you can have the next" Right within hearing of the auctioneer.
The auctioneer stopped the auction, gave them a stern warning that he could lose his license and they could be arrested and that if they wanted to make deals they should do it outside before bidding. The the item was restarted at the former high bid with the offender getting credited for the next advance which he never made. The third bidder came in then, and got a quick thank you and the lot eventually sold for around $40 more.
Steve Birmingham