Quote:
Originally Posted by Aquarian Sports Cards
Glad you said it, I was biting my tongue. 
Of course it's not the intent of the law to penalize a couple of buddies, but it has been prosecuted and recently when it is a true matter of collusion intended to depress the bidding artificially.
https://www.justice.gov/opa/pr/nine-...osure-auctions
and there are others. |
Respectfully disagree on it being collusion between a couple of friends and fellow collectors to choose not to bid on an item the other is truly after.
The reality is one person not bidding probably doesn't change the price much if at all, considering the hundreds of thousands to millions of additional consumers in the marketplace that you aren't in contact with that may also have interest in that item.
With how front and center auctions are now, my buddy Bob electing not go go after an item to not bid against a friend is unlikely to have any material change on the market value of that piece. If only you and Bob were willing to fight for the item in the first place, and it goes for a very low price, then the market wasn't really much of a market to begin with and you'd have been overpaying.
If something is too good of a deal, a dealer or flipper will bid in principal to grab a deal and flip it.