[QUOTE=botn;1497093
At no point did we ever conspire with anyone at Mastro on those bids. We never knew who was bidding on our items or what their bids were. I have no recollection which of our consignments I was the one to place a bid and which my former business partner bid on but since he is no longer here I have to take responsibility for our actions. Sometimes a top all would be placed and other times we would bid incrementally so as to not open ourselves up to being shill bid, as ironic as that might sound. In each instance our bids were made with the intent to buy back the item and a willingness to pay the buyer’s premium, as we did each time we bought back a lot. It did not feel right doing this but I never thought of it as being illegal.
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Incremental bidding -
Example 1: Lot A, you the cosigner think the lot should sell for $2,000.
Did the bidding go like this?
Bidder 1: $650.00
You: $750.00
Bidder 1: $900.00
Bidder 2: $1,000.00
Bidder 1: $1,200.00
You: $1,400.00
Bidder 3: $1,600.00
You: $1,800.00
Bidder 3: $2,000
You - See that is the rub, did you stop or keep pushing?
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