Spiderman 14 9.6 sells in Comicconnect for.....gulp...$53,0000

[adamstrange]

First, a group of dishonest dealers agree not to bid against each other. Only one of them bids, and, if the auction is poorly attended, is likely to win the item at way below value.

 

The ring meets after the auction and one member may then buy the item for something approaching its real value. The difference -- the profit -- is split between the ring members.

I don`t think think either of these are illegal or unethical.

 

I find it really hard to believe that this tactic has been used much, if at all, in our hobby. How many books that are worth enough dollars to make it worthwhile to engage in all these shenanigans have gone for the kind of pittance necessary for the ring to make a reasonable profit?

 

And whichever member of the ring ends up with the book, now he has to try to sell it at a profit after the plummeting price is recorded in GPA and/or Heritage? Good luck brother. Maybe it would work once in a while, but enough to keep food on the table for the entire ring? I don`t think so.

 

This is illegal, though I'm not sure how much is governed by Federal statutes vs. state law. IIRC, in the late 90s the authorities went after a large ring of art dealers that did this regularly with Sothebys auctions.

[tth2]

First, a group of dishonest dealers agree not to bid against each other. Only one of them bids, and, if the auction is poorly attended, is likely to win the item at way below value.

 

The ring meets after the auction and one member may then buy the item for something approaching its real value. The difference -- the profit -- is split between the ring members.

I don`t think think either of these are illegal or unethical.

 

I find it really hard to believe that this tactic has been used much, if at all, in our hobby. How many books that are worth enough dollars to make it worthwhile to engage in all these shenanigans have gone for the kind of pittance necessary for the ring to make a reasonable profit?

 

And whichever member of the ring ends up with the book, now he has to try to sell it at a profit after the plummeting price is recorded in GPA and/or Heritage? Good luck brother. Maybe it would work once in a while, but enough to keep food on the table for the entire ring? I don`t think so.

 

This is illegal, though I'm not sure how much is governed by Federal statutes vs. state law. IIRC, in the late 90s the authorities went after a large ring of art dealers that did this regularly with Sothebys auctions.

So when I "collude" with other collectors by discussing what we're individually going after and then agreeing to step aside on each other's books, we're committing an illegal act?

 

Cool! Since I'm overseas in a country without an extradition treaty with the US, sounds like a great blackmail opportunity for me! For all the fellow collectors that I've been "colluding" with over the years, I'll be listing the parts of your collection that need to be given to me, otherwise you can expect a visit from US federal jackbooted thugs any day now!

[adamstrange]

First, a group of dishonest dealers agree not to bid against each other. Only one of them bids, and, if the auction is poorly attended, is likely to win the item at way below value.

 

The ring meets after the auction and one member may then buy the item for something approaching its real value. The difference -- the profit -- is split between the ring members.

I don`t think think either of these are illegal or unethical.

 

I find it really hard to believe that this tactic has been used much, if at all, in our hobby. How many books that are worth enough dollars to make it worthwhile to engage in all these shenanigans have gone for the kind of pittance necessary for the ring to make a reasonable profit?

 

And whichever member of the ring ends up with the book, now he has to try to sell it at a profit after the plummeting price is recorded in GPA and/or Heritage? Good luck brother. Maybe it would work once in a while, but enough to keep food on the table for the entire ring? I don`t think so.

 

This is illegal, though I'm not sure how much is governed by Federal statutes vs. state law. IIRC, in the late 90s the authorities went after a large ring of art dealers that did this regularly with Sothebys auctions.

So when I "collude" with other collectors by discussing what we're individually going after and then agreeing to step aside on each other's books, we're committing an illegal act?

 

Cool! Since I'm overseas in a country without an extradition treaty with the US, sounds like a great blackmail opportunity for me! For all the fellow collectors that I've been "colluding" with over the years, I'll be listing the parts of your collection that need to be given to me, otherwise you can expect a visit from US federal jackbooted thugs any day now!

 

Now that you know, don't you your criminal assistance just the least bit thrilling?