Re: It ain't so ! Message #5 Posted by John K. (US) on 23 Jan 2003, 5:35 a.m., in response to message #4 by Dave
As I understand it, any "scheme" to manipulate prices in an acution is illegal, be it inflating prices through "shill" bidding, or supressing them through "ring" bidding.
The latter usually operates as an agreement between two or more individuals to bid no more than a given amount on an item, or to allow a specific individual to bid unopposed, and then to hold a private auction or exchange among the members of the "ring." The usual goal is to keep "public" prices low enough that such items don't attract speculators, or to keep items of a specific type within a small circle of "true" collectors.
Of course, the details probably vary by jurisdiction, and since I'm not a lawyer nor do I play one on TV, YMMV.
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