Garth Guibord
Quote:
Originally Posted by Peter_Spaeth
It worked out exactly the same as if there had been a reserve, or higher opening bid. No victim.
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Actually, no. When a reserve is included, the bidders are aware of it. In this case, it's clearly deceptive. It's doesn't take a degree in ethics to see that.
Not to mention the data point each shill auction, including that one, provides the industry, but is also deceptive.
I would hope people would be smart and decent enough that when they engage with somebody with shady practices, in this case an auction house who doesn't provide a specific service but encourages a deceptive alternative, they would simply walk away and find a more respectable auction house. Not offering a reserve, but suggesting this type of bidding as a proxy is a big red flag.