Ethics question regarding buying at auctions...

[steve B]

Originally Posted by Runscott

Okay, I'll risk getting a reaming....If I know someone on the board collects a rare item, I know he is willing to 'over-spend' for it, and I see such an item come up in a major auction....I have a few choices: 1) I hope he doesn't see it 2) I assume he sees it and I can either give up immediately and alert him to the item, or 3) I can try to outbid him, knowing one of us will pay way above market value, or 4) I contact him in advance and try to come to some sort of arrangement so that the bidding doesn't get out of hand, or 5) he contacts me and I ignore him or brush him off.

If I choose option 4, is that wrong? Personally, I would never do it, but I HAVE had other collectors approach me (option 5), trying to figure out where I stand on a particular item. I generally try to tactfully brush them off.

Situation 1 - ok
situation 2 - Actaully a nice thing to do.
situation 3 - ok
situation 4 - Very not ok. See below.
Situation 5 - Hard to tell. I've asked a friend about an item I was interested in and found out how much he'd already bid. Out of my league so I didn't bother bidding, but not as an arrangement, just something I did. I've been asked and have openly told friends my max bid or what I thought of an item. What they decide to do is up to them.

The stuff about how #4 can go very wrong- Unlikely anyone would pursue it on an occasional cheap item, but it still shouldn't be done.

http://www.jamesmccusker.com/news/article.cfm?id=234

http://www.ag.ny.gov/media_center/20...apr21a_04.html

Steve B