hypothetical major problem with well respected board member

[edhans]

Originally Posted by Peter_Spaeth

I disagree, strongly. Even two buyers agreeing not to bid against each other is collusion and has a potential impact on price. Are you suggesting that if Ford and GM conspire to fix the price of cars, that isn't illegal because Toyota isn't in on it?

Exactly what is the difference between this "bid rigging" and two (or more) friends who agree to buy a lot and divide it up? If my friend an I each want a few cards in a lot, are we really obligated to bid each other up? Sorry to appear dense, but I'm obviously missing something.

[Peter_Spaeth]

Originally Posted by edhans

Exactly what is the difference between this "bid rigging" and two (or more) friends who agree to buy a lot and divide it up? If my friend an I each want a few cards in a lot, are we really obligated to bid each other up? Sorry to appear dense, but I'm obviously missing something.

It's a fine line, as has been mentioned, and I think it depends in part on your intent. If the intent is to pool resources to buy something you might not otherwise have been able to buy, or wouldn't have wanted to buy, it's ok; if the intent is to keep the price down by ensuring you and someone else don't independently bid, then it's not ok. Now in practice it can certainly be hard to tell the difference.

[edhans]

Originally Posted by Peter_Spaeth

. Now in practice it can certainly be hard to tell the difference.

Nigh on impossible, I would think.

[Econteachert205]

Originally Posted by Peter_Spaeth

It's a fine line, as has been mentioned, and I think it depends in part on your intent. If the intent is to pool resources to buy something you might not otherwise have been able to buy, or wouldn't have wanted to buy, it's ok; if the intent is to keep the price down by ensuring you and someone else don't independently bid, then it's not ok. Now in practice it can certainly be hard to tell the difference.

I agree with this.

[SMPEP]

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Quote:
Originally Posted by SMPEP
I'm surprised the obvious answer hasn't been suggested:

Pistols at 40 paces. And if you're a good shot ... a great collection full of rare wonders will be on the market.

Bitch-slaps at three feet would be more entertaining for the rest of us...



Adam - I know better than to open that link! But I can imagine the entertainment.