Ethics question regarding buying at auctions...

[Wymers Auction]

I also find it funny that there is so much talk about auction house ethics on here, but when it comes to being a bidder anything goes. Funny double standard.

[steve B]

One local live antique auction I went to there were two guys in the front row competing for the same lot. At one point one turned to the other and asked "do you want to stop now and split it"

The auctioneer stopped the bidding chastised tham for saying that in front of him, because at that point it wasn't going in on lot together, but a collusion. Then he restarted the bidding.

Pooling resources is fine, doing it during the bidding with a competitor isn't.

(Neither of them won, two other bidders came in slightly above where they were.)

Steve B

[slidekellyslide]

Originally Posted by steve B

One local live antique auction I went to there were two guys in the front row competing for the same lot. At one point one turned to the other and asked "do you want to stop now and split it"

Seen it happen once at a live auction...a woman said I'll split the lot with you if you stop bidding and the auctioneer stopped and told her she just broke the law and if she wanted to continue at the auction she won't do that again. You could see the embarrassment on her face...she must have left shortly after because I didn't see her again after that.

[murcerfan]

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.

Yeah, we all know what high regard for the law auction houses preying on this "hobby" have had over the past 15 years. You make me laugh.