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you got balls man!
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Originally Posted by mavrick10
(Post 2284038)
you can't do this in this type of auction. It is written up in the contract and i imagine if you did do it and Richie Bros found out, you would be in a lawsuit. That's what brings lots of people to their auctions, this along with no reserve.
I'm sure an auction house would never condone the practice and if complicit in the act, it would likely ruin them. At the same time, they really don't have much to lose by not being hyper-diligent in watching for it. The item sells, the fees get paid. |
Originally Posted by Chris Sunkin
(Post 2284220)
More than a contractual issue, shill bidding is a crime. Compounding that, since two people are required, it becomes a criminal conspiracy which is even worse. having said that, it's virtually impossible to prove and that's why it happens constantly at live auctions and is prolific on Ebay.
I'm sure an auction house would never condone the practice and if complicit in the act, it would likely ruin them. At the same time, they really don't have much to lose by not being hyper-diligent in watching for it. The item sells, the fees get paid. |
If anyone on here does not think that shilling does not go on the you are gravely mistaken. I used to be at the manhiem auto auctions 4 days a week and on general consignment cars it happens all the time. Very hard to prove. I used to do it for selected customers of mine. You would be crazy not to have a friend do it on a high dollar no reserve item
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Originally Posted by Chris Sunkin
(Post 2284220)
More than a contractual issue, shill bidding is a crime. Compounding that, since two people are required, it becomes a criminal conspiracy which is even worse. having said that, it's virtually impossible to prove and that's why it happens constantly at live auctions and is prolific on Ebay.
I'm sure an auction house would never condone the practice and if complicit in the act, it would likely ruin them. At the same time, they really don't have much to lose by not being hyper-diligent in watching for it. The item sells, the fees get paid. It happens everyday.....When I go to the dealers auction it's like going to a poker game in Vegas....You have to act uninterested and hope someone doesnt run you out or have more money than you have to blow.... |
I was at a Ritchie Bros auction in MD a few years ago and somebody tried to "buy" back there own dozer. Ritchie Bros, brought the machine back out and re auctioned it. They annoucned to the crowd what happened and "re-auctioned" to the highest bidder. Don't know if their policies have changed or not. Good luck, at least it will be sold Looks awesome.
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Anyhow,.......best of luck to Maverick!!
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Ritchie Bros has the highest sale price of any auction out there. Absolutely no reserve, no buybacks. When you send them a piece of equipment, It is gone. It usually brings top dollar, but if for some reason it doesn't, you're screwed. It is sold to the highest buyer.
Many contractors swear by them. Also, some people think just because they are at an auction, they are getting a deal. I have seen people buy used things at an auction for 90% of full retail, and smile the whole time because they didn't do their homework. |
So what did they end up going for??
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The auction runs Wed-Fri, and they are being sold on Friday.
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