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timzcardzI read here a lot, but seldom have anything to contribute because although I do find the vintage cards interesting I don’t collect them . . . yet, but here I can offer something that hasn’t been brought up.
Bidders grouping together in pursuit of auction lot together is not price fixing, bid fixing, collusion, or conspiring.
What is it? It is actually a joint venture, not unlike many joint ventures that are formed by bidders pursuing large public works projects.
In large public transportation projects, construction bidders will often join together in the pursuit of a single contract for various reasons, some of which are similar to bidders on a card lot.
- Cash Flow.
- Interest in part of the work/cards.
- Inability to undertake the magnitude of financial commitment on their own.
Division of work and percentage of contract is established prior to bidding, much the way the division of cards and percentage of bid is established when pursuing a lot of cards.
All perfectly legal reasons and practices, and the government agencies right up to the federal level recognize this.
This is far different though from groups agreeing up front to not bid on various items, such as A will pursue lot 1 without bidding competition from B and C, and B will pursue lot 2 without competition from A and C, etc.