by-bidder

The by-bidder is known as an example of a bidding strategy that many people consider to be unethical, and in a number of locations around the world it is actually illegal. Essentially, a by-bidder is an agent by whom a bid is chosen in an auction with the express purpose of raising the price of the bids that are placed on a particular item. This activity results in motivating legitimate bidders to place higher bids and this will surpass the offers submitted at part of the by-bidder approach for having a chance at winning the auction.

The purpose of engaging a by-bidder

A by-bidder is generally engaged by the owner of the item that is to be auctioned generally for the purpose of obtaining a price for the article that is more higher than what would have been obtained otherwise. The process that is used by a by-bidder is very simple in order to accomplish this.

[click to continue…]

Tagged as: auction, auction houses, bidding privileges, bidding strategy, by-bidder, legal action

{ 0 comments }