Ethics question regarding buying at auctions...

[tbob]

Originally Posted by Wymers Auction

Speaking from an auctioneer's standpoint there are no friends at an auction!!! That is the ideal situation for us sister against sister and brother against brother tooth and nail and believe me this happens. We understand the feeling of not bidding up friends and family, but to engage in a ring and try to repress the prices of an auction is illegal it is not a gray area at all.

James- I think you are missing the point. I understand collusion and price-fixing, etc. but the following real example illustrates the concept of "apples and oranges" in discussing collectors getting together to buy an auction lot. 8 collectors who would all like between 1 (for a type) and 2-5 cards (for set collectors) decide to pool resources on bidding on a caramel set containing 30 cards. On of the collectors is designated as the bidder, the others watch and keep their fingers crossed. None of the 8 collectors would be able to afford the mid to high grade set but by pooling their resources, "they" become a serious and tenacious bidder. During the final hour of bidding, "they" bid 4 or 5 times, driving the bid amount up and up. Had it not been for the collective bidding, the lot would have sold to another bidder, also tenacious, for quite a bit less. The consignor profited, the auction house profited, the bidders profited because the cards were seldom seen for sale in their condition and they were able to secure cards they needed. The 8 card collectors who communicated about the cards with each other formed bonds of friendship which lasted long after the auction ended and several have traded or sold cards to each other.
The goal was not to depress or "fix" the final price, the goal was to secure cards.
Apples and oranges....