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Definition: An auction is defined as a public sale of goods or property in which prospective purchasers bid until the highest price is reached.

Simple enough Chandler Jones Elite Jersey , right? Well, mostly. There are a couple of underhanded actions you should be aware, and run away from when bidding at an auction. These two types of illegal practices which falsely affect the bidding prices at an auction are called Chandelier bidding and Collusion.

Chandelier bidding

Usually found happening at high end auctions, such as art auctions and property auctions. Chandelier bidding is the practice of raising false bids at a crucial time in the bidding in order to create the appearance of a greater demand for the item in order to raise the selling price. These chandelier bids are non-existant, but can really affect the existing bidder's bids. If you think this is happening during an auction you're bidding in Pat Tillman Elite Jersey , you are probably not alone. The auctioneers are trained to be able to sniff out these false bids before they wreck havoc. Pay close attention to the auctioneer as he calls out the current bids, if there is false bidding to raise the bidding war, he or she will either stop accepting bids from this person or skip and skip over their bids to accept others. If you think there may be a bidding rouse, the auctioneer will hopefully already be working to rectify the problem. If not it's up to you, be aware. Do not continue bidding on an item which you sense is involved in chandelier bidding. You will never win Hakeem Butler Jersey , you may win that item, but it will cost you so much more.

Collusion bidding

This is quite complex if you are not a regular at auctions, it is the illegal practice of creating a group of bidders all working together forming a 'ring' to manipulate the auction results. They agree amongst themselves to bid against the newcomers, never against members of the 'ring', creating less competition which can dramatically affect the final purchase price. Once the auction is complete Zach Allen Jersey , these collusion bidders will then have a quiet auction amongst the 'ring' members, the difference between the two winning bids will then be split between the members of the 'ring'.

These collusion rings can also be quiet effective in increasing the price of auction lots. The owners of the lots being auctioned can also bid on the item. Then they drop out at the last minute to garner more money.

Depending on the country and Auction House, there may be legal retributions for these underhanded 'bid boosters'. Check your local area as well as the area where the auction is being held for the laws regarding such practices. Alternately, social networking may be the only option someone who has been duped can vent their frustrations. Bad press can be used through these networking sites to warn others of the bad practices being endorsed by the actual auction houses.

These precautionary warnings are designed to better prepare you to receive a fair price for the item on which you are bidding. The main point, always be aware of who is bidding Andy Isabella Jersey , and at what price. If you suspect underhanded practices, immediately stop bidding, you will undoubtedly lose anyway. Then inform the staff at the auction house as well as the auctioneer himself to your concerns. You may just close down an illegal 'ring' of false bidding, and make yourself and everyone else at the auction a better experience. As businesses continue to pursue zero-man-hour wastage and total effectiveness, certain tasks despite numerous human and technological interventions Byron Murphy Jersey , are still looming in an area of tremendous risk that can spell doom to the increasing effectiveness of any business. One such area which involves a huge amount of procession and effective human involvement is Payroll.

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