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London Coins-- another suspicions of shill bidding thread
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<p>[QUOTE="dltsrq, post: 7874902, member: 75482"]A careful reading of auction terms can be enlightening. I have no experience with London Coins but as an example of what one might find generally, the following is quoted from the online terms page of a major US auction house. I have substituted [the company] for the actual name of the firm in the text:</p><p><i><br /></i></p><p><i>"</i>We reserve the right ... to bid on behalf of [the company], to bid on behalf of the consignor, to permit the auctioneer to bid on his own behalf, and to permit the consignor to bid on his own lots. [The company] may loan or advance money to consignors or prospective bidders, and may have an interest other than commission charges in any lot. [The company] may bid on its own account as an “insider” with information not available to the public."[/QUOTE]</p><p><br /></p>
[QUOTE="dltsrq, post: 7874902, member: 75482"]A careful reading of auction terms can be enlightening. I have no experience with London Coins but as an example of what one might find generally, the following is quoted from the online terms page of a major US auction house. I have substituted [the company] for the actual name of the firm in the text: [I] "[/I]We reserve the right ... to bid on behalf of [the company], to bid on behalf of the consignor, to permit the auctioneer to bid on his own behalf, and to permit the consignor to bid on his own lots. [The company] may loan or advance money to consignors or prospective bidders, and may have an interest other than commission charges in any lot. [The company] may bid on its own account as an “insider” with information not available to the public."[/QUOTE]
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