Ethics of bidding on family item at auction

[FrankWakefield]

Aaron, are you an executor or administrator for the estate? If so, I think you will want to disclose that you're wanting to bid, and let the attorney for the estate and the auction house know.

Was there some restriction in the testamentary documents that directs a public auction and that beneficiaries are not allowed to participate in the public auction? If so, that might put you in a quandary if you are a named beneficiary but you relinquish that position if you bid in the public auction. (This seems an unlikely scenario, but you should look at the testamentary documents.)

Truth is, the family members and estate are all better off if you are bidding, as you increase the sales price for everyone. You could welcome other family members to bid.

I actually think that a testator would have wanted family members to participate in such an auction, it would validate the testator's collecting practices.