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#1
04-08-2008, 07:54 PM
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Group purchases in REA, Mastro
Posted By: Phil B
I could be wrong here- and maybe the good lawyers want to weigh in- but I think any discussion of bidding tactics between people who would otherwise be individual bidders would be considered under the law to be "conspiring to fix the bidding" in an auction. I think back several years to a group of bidders in New York real estate foreclosure auctions who were agreeing not to bid against each other in favor of "taking turns" being the successful bidder. To my recollection this practice was found to be illegal. 
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