Quote:
Originally Posted by slidekellyslide
There was a thread on here early last year which was started by the same Net54 member who started this thread in which he and another bidder agreed to partner up on a lot of rare Topps Hocus Focus cards. The lot sold for $10,000 and there was poor communication between the two partners and the division of the lot did not happen right away. This of course angered the guy who sat out of the bidding and he stated that he would have gone $20,000 on the lot. It all worked out in the end as one guy went on an extended vacation. But the point of all of this is that those two guys getting together on that lot clearly worked in their favor to keep the price down.
Does it always work that way? No, and I have no statistics to show which outcome is more prevalent. I understand why people do it on lots though, it has to be frustrating to see the one card you've been pining for in a lot of stuff that you don't want or need.
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At least they have located the card they need. Splitting a lot at the lowest price possible, through collusion, allows them each to get the one or two cards they want, plus make a larger profit when they re-sell the rest of the lot, than if they had simply bid on it fairly. The only one who loses is the consignor.