Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Southwest Bullion & Coin Auction - buyer beware
>
Reply to Thread
Message:
<p>[QUOTE="omahaorange, post: 1424929, member: 28199"]In Pennsylvania, it is illegal for the auctioneer to bid solely to drive up the price. It is permitted for him, or an employee to bid, in order to meet a reserve, but it has to be disclosed prior to the start of the auction and the bidding that the item has a reserve price (don't have to say what the reserve is, just that it has a reserve). It is also legal for employees to bid for the purpose of buying a particular item. Usually when a runner starts to bid against me, I simply back off, since I don't know what the intention is.</p><p><br /></p><p>Me, if I read this prior to entering a live auction, would simply walk out the door. After reading this, I think either the sellers will still own their stuff, or the auctioneer will have some tremendous bargains being the only one bidding. Won't participate, but may be interestng to watch.[/QUOTE]</p><p><br /></p>
[QUOTE="omahaorange, post: 1424929, member: 28199"]In Pennsylvania, it is illegal for the auctioneer to bid solely to drive up the price. It is permitted for him, or an employee to bid, in order to meet a reserve, but it has to be disclosed prior to the start of the auction and the bidding that the item has a reserve price (don't have to say what the reserve is, just that it has a reserve). It is also legal for employees to bid for the purpose of buying a particular item. Usually when a runner starts to bid against me, I simply back off, since I don't know what the intention is. Me, if I read this prior to entering a live auction, would simply walk out the door. After reading this, I think either the sellers will still own their stuff, or the auctioneer will have some tremendous bargains being the only one bidding. Won't participate, but may be interestng to watch.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Southwest Bullion & Coin Auction - buyer beware
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...