Quote:
Originally Posted by Wymers Auction
David that is not considered shill bidding. It is looked at as the house bidding on behalf of a reserve. If you remember many years ago at auctions the auctioneer would say "the book is at $50 now I am asking for $60". They would write all reserves in a book and bid on behalf of the book. This is the same thing. Technically that is how it works, but you are right if you bid on behalf of the seller you are skating on paper thin ice. My point is not really to disagree with you except that once disclosed it is not illegal.
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If they have visibility to a max bid of say, $100. The "book" or reserve - whatever you call it - is $60 and they bid it up to $100. That is more than bidding against a reserve.
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