Quote:
Originally Posted by benjulmag
Peter,
That is a recognized practice among most major auction houses, disclosure of which is buried in the fine print of the auction rules. I characterize it as legalized fraud, as its purpose is to induce bids on the mistaken belief there is genuine interest at that bidding level.
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Uh, yeah!
Why is this type of auction/sale allowed. It's basically trying to induce people with a lot of money that don't know any better to purchase something very hyped.
Why is this legal? Is this a practice/tactic auction houses like Lloyd or Christies employ?