Nope, the only requirement is that folks should not conspire to
hold down the price of auctioned items. One of the examples
given was a group of individuals all interested in a certain
category of items decide amongst themselves to allow only one of
their number to place bids on a specific item and nobody in the
group will bid against him. They have, therefore, conspired to
hold down the price the seller can receive. The whole group has
committed a felony by so doing. Shilling on an auction
(conspiring to drive the price up) is just as illegal. In the
U.S.A., that is. Outside the U.S.A. could be different.
Len
---
> amazing! Well, I'm no lawyer but it seems to me that the clear
> implication of such a law would be that everybody within the
> jurisdiction of that law would be required to bid for
> every item
> in every auction that was within that jurisdiction.
>
> For example, if my friend the multi-gazillionaire art
> collector tells
> me he's going to bid for the Mona Lisa (La Gioconda)
> when it comes up at
> Sotheby's this weekend then I would be required by
> law to make a bid,
> otherwise I'd be conspiring to limit etc...
>
> I must say, I get great pleasure just from thinking
> about what a
> ridiculous law that would be!
>
> --
> Cheers,
> Bob
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