Posted By:
JKBarry,
You state above: "I put myself on the other side and realized one of the purposes [of group bidding] was to keep the price down. Of course, whether or not it ends up that way depends on the underbidders. Usually there are enough to keep the lot honest, but sometimes there aren't. There is no clear answer as to what is correct and ethical."
I disagree with a couple of your comments - first, the purpose is not necessarily to keep the price down - its to pick up cards that you otherwise likely would not be able to pick up due to the manner in which the lot was formed/listed by the auction company. Second, everyone wants to pick lots up as cheaply as possible - even, Im willing to bet, you bidding as an individual - and will employ tactics that they believe will lower the final hammer price (snipe services on ebay, timing of bids, etc.). Third, there is simply no empirical evidence that groups result in lower prices. So what if you have been part of groups that congratulated themselves on the great price that they received - what actual evidence is there that the group was responsible for the low price? Had none of the group members bid at all, the lot could have gone even lower. Moreover, Ive heard plenty of individuals comment on the great prices that they won items for as well. Means nothing. Finally, even assuming that the primary objective of a group were to get the lowest price possible, how is that unethical? Isnt everyone's primary objective to win a lot for the lowest price possible?