Quote:
Originally Posted by ibuysportsephemera
People have used the term bid-rigging. It really is an incorrect usage for this discussion. Typically the term is used when parties collude and the outcome of the bid is guaranteed. Because this was an auction with anonymous participants, there was no way to guarantee the outcome.
Jeff
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Suppose 15 very low pop commons in 9 are available in an auction in individual lots, and the three top set registry guys, each of whom need them all, agree to allocate their bids so as not to bid against each other in the hope that each comes away with 5. Suppose there are also other anonymous people who will bid on some as well. Are you saying this is not collusive? (I don't care for and haven't used the term bid rigging.)
PS this isn't just a hypo. I have seen an email where a leading collector proposed just this to another collector, who to his credit ignored the proposal.