Is anyone else getting screwed by Heritage .....

[FFB]

I have wonder about this myself. If the current bid is $200 and you place a high bid of $500 what's to keep them from shilling it all the way up to but not past your $500 bid to ensure that they are maximizing their comission(s)?

 

Fear. If they did this and someday some employee were to leave Heritage with an axe to grind and report them, they would get slapped with a class action lawsuit that would put them out of business.

 

Having said that, this type of fear of an uncertain danger is not always the best motivator to get someone to behave ethically. If it were, there would be no corporate wrongdoing in this country. But there is -- lots of it.

 

Thank goodness, because if there weren't, I wouldn't have a job.

[nearmint]

I just don't know why they'd do it to him and not do it to me. My max bid was $761, but the final price was only $512. I certainly gave them a great opportunity to maximize their commision, but they didn't take it.

[Darthdiesel]

depends when your bid was placed.... I placed my final bids on Friday and it git bid up all the way on Saturday afternoon at the live bidding

[Silver Surfer]

FF,

 

Fear is not enough. For arguement sake, let's say that you have two high level guys overlooking the information and doing their thing. They keep it between themselves and because they both share the same risk they are not going to rat each other out because its easy money. I doubt minimum wage employees would be in on such a scenario.