Shill bidding at major auctions?
Does it happen? If so what percent? Can the auction houses do anything to prevent it?
My answers yes I think it happens, maybe as much as 30% and unfortunately I don’t think the auction houses can do much to prevent it. I suspect the auction house only has it suspicions and difficult if not impossible to prove. I suspect very little effort is made to eliminate this behavior since it is so hard to prove.
I just hope that I am not under estimating my guesses. Any thoughts or solutions? It would be nice to hear from the auction houses what if anything they can do.