Quote:
Originally Posted by Jaybird
They have already stated that they use it. The possibility is more than a possibility. It is confirmed.
Their explanation is that they do it only in certain timeframes. But they do not disclose the lots in which they have placed bids. The buyer is left guessing whether they are being bid up by the house or by another bidder. Draw your own conclusions as to why this is not the greatest practice for the buyer.
It is accepted practice in some other auction areas. Heritage is a big business and doesn't want to make the change for just this little portion of their business. In other words, they don't care. I mean the business side, not the individuals. I'm sure Peter and others at Heritage are fine people but if their business practices are not ethical, does it matter how great they are?
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I noticed in a recent auction that there was an asterisk stating that the current bid was from the owner of the lot