I get why they do it but like many here, do not agree with the practice. It’s dogshit as you stated.
If a consigner (or AH) has a minimum price set, that’s perfectly fine. Just open the auction lot at that price instead of faking additional interest (bids).
Quote:
Originally Posted by Rhotchkiss
+1. It’s dog shit and, while legal, ethical fraud. I don’t like a hidden reserve, but I get it and think it’s fair enough. But an AH should not be able to effectively shill up the price, making it seem that real bids are being placed, in an effort to get someone to place a real bid at the hidden reserve amount. I despise this practice. Now, just because an AH can do this does not necessarily mean they do it, although I expect they do/would if an item is below the hidden reserve- why not use the tool if you can.
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11-01-2024, 05:04 PM
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