Mastro Auctions Investigated for Shill Bidding

[Archive]

Posted By: warshawlaw

Kat: if the rules are disclosed to all bidders it cannot be considered fraudulent. You would have to look at the auction laws of the state where the auction is conducted to determine whether the practices in question are legal.

Sotheby's and Christies were hit for conspiracy to fix prices on commissions. I can assure everyone that there is none of that with Mastro as I've spoken to a number of consignors who are paying all sorts of prices with Mastro and with others.

As far as personal service goes, I'd say personal service is the norm from what I've seen and doesn't necessarily mean it is illegitimate. I consign perhaps two or three items a year yet I know several auction house reps and I speak with them on a variety of issues, as I do with vendors in nearly every other aspect of my business from grading services to computer repairs.

Regardless of where this all goes, the bottom line is as it always has been: assume your maximum bid is what you will pay and act accordingly to protect yourself.