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Handling of Written Bids at Major Auction Houses
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<p>[QUOTE="4to2centBC, post: 2311527, member: 76181"]When the auction house bids on their own stuff or on behalf of the consignor, that is not fraud. I think it stinks and opens up a Pandoras box of unethical, although legal behavior built you are correct it is not fraud. However I never made that claim. I understood the distinction before I made my post.</p><p><br /></p><p>What you point put is legal BUT this does not give license to the auction house to look at a maximum bid and then bid up to that amount, to inflate the bids. THAT is fraud. The employee bidding for the auction house should have no access to other customers max bid.</p><p><br /></p><p>Nobody agreeing to CNG note esp III.2.1 expect that they are agreeing to what I am suggesting happens in many circumstances.</p><p><br /></p><p>But please feel free to tip your hand to the auction house. Your money.[/QUOTE]</p><p><br /></p>
[QUOTE="4to2centBC, post: 2311527, member: 76181"]When the auction house bids on their own stuff or on behalf of the consignor, that is not fraud. I think it stinks and opens up a Pandoras box of unethical, although legal behavior built you are correct it is not fraud. However I never made that claim. I understood the distinction before I made my post. What you point put is legal BUT this does not give license to the auction house to look at a maximum bid and then bid up to that amount, to inflate the bids. THAT is fraud. The employee bidding for the auction house should have no access to other customers max bid. Nobody agreeing to CNG note esp III.2.1 expect that they are agreeing to what I am suggesting happens in many circumstances. But please feel free to tip your hand to the auction house. Your money.[/QUOTE]
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