Quote:
Originally Posted by Exhibitman
I don't have a problem with an auction house employee winning an item offered in the auction; the more legit bidders, the better for the consignor [assuming arguendo that the consignor is actually paid for his lot  ]. I can see, though, how allowing the auctioneer to bid could allow the auction house to shill bid the item, so unless a third party is administering the auction in a manner that somehow prevents the auctioneer from seeing the max bids of the bidders, it would be problematic to allow the bidding. |
It's big-time "problematic," could lead to a bunch of bad scenarios. For instance, what if employee "X" sees an E224 Honus Wagner in the upcoming auction. Well, employee "X" already owns an E224 Wagner, but alas, he is considering parting with it. What is to prevent Mr. "X" from shill bidding the Wagner all the way to the max bid and therefore probably benefiting when the time comes to sell his own Wagner. Another scenario is where you have two employees that have become the best of buddies (BFFL). Employee #1 consigns a lot to the auction house, employee #2 is a good guy and helps the lot along with some timely bidding. Luckily, stuff like that does not happen anymore
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Lovely Day...