Quote:
Originally Posted by benjulmag
Peter,
That is a recognized practice among most major auction houses, disclosure of which is buried in the fine print of the auction rules. I characterize it as legalized fraud, as its purpose is to induce bids on the mistaken belief there is genuine interest at that bidding level.
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I get it, I was just expressing surprise it hasn't evoked more angst, as people used to bitch a ton about hidden reserves and such.