CA teamwork on Cbid!

[Tredegar]

I think this is called bid rigging. I am not a lawyer but I believe it is not legit, or ethical. There are plenty of articles about this on the internet. I remember a few years ago several philatelic dealers were convicted of bid rigging. They would agree to not bid on certain auction lots if another were bidding on said lot. They then would hold their own "private auction" of these lots. This went on for years until a disgruntled dealer informed the authorities.

By doing this, no matter how well intentioned, you hurt the auction firm by artificially keeping the prices lower than they might have been if the auction would have run it's course.

[ApexAZ]

Great idea, Shane! I would actually take it 1 step further and request that we include CA and our name, since we have lots of members.

I also wonder about the legality of it.

Originally Posted by Tredegar

I think this is called bid rigging. I am not a lawyer but I believe it is not legit, or ethical. There are plenty of articles about this on the internet. I remember a few years ago several philatelic dealers were convicted of bid rigging. They would agree to not bid on certain auction lots if another were bidding on said lot. They then would hold their own "private auction" of these lots. This went on for years until a disgruntled dealer informed the authorities.

I think the line I highlighted in bold is the most important point here. There is no intention of reselling the cigars, only respecting other members.

[Tredegar]

Still by agreeing to not bid on lots that other members have bid on you are not letting the auction run its course.