[78-L] Snipes and snails...

[Mark S. Chester]

Not to mention that it violates federal antitrust laws (by restraining
competition) and also state laws concerning auction sale "pooling." Such
violations do occur all of the time, but if detected, could result in severe
federal and state criminal penalties.

Mark S. Chester
Phoenixville, PA

-----Original Message-----
From: 78-l-bounces at klickitat.78online.com
[mailto:78-l-bounces at klickitat.78online.com] On Behalf Of simmonssomer
Sent: Saturday, May 16, 2009 11:10 AM
To: 78-L Mail List
Subject: Re: [78-L] Snipes and snails...

Back in the forties certain top-of-the-line antique dealers in one of our 
major metro areas formed "combinations" prior to the auction. Three and 
often more dealers appointed one bidder and gave him instructions on how 
high to bid. The others stayed out of the bidding.

Understand that this relates to 18th and 19th century furniture, porcelain, 
silver, gold and other very high priced stuff.

When (and if) their representative won the item they would meet and hold a 
post-auction meeting to resolve the situation. This cut down on a lot of 
open auction competition which usually resulted in lower winning bids.. They

claimed it saved thousands of dollars on important items.
The eventual winner would remunerate the other members of the group with a 
certain percentage of his winning bid.
I believe that technically it was very much against the rules of the auction

house but it was employed universally nevertheless.

Al Simmons