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Auction in Texas

No, but I went to one in Sealey Tx. and I could swear that some owners were bidding on their own items to increase the price. Is that legal?
 
Sure, its legal. Much hand-wringing on this board in the past on whether it is ethical. I don't have a big problem with it- why shouldn't an owner have some control over what price he gets? If it was absolutely prohibited, and a guy wanted to make sure he got $xxx for his item, he wouldn't risk bringing it to the sale. And I'd just as soon he bring it, because I might be happy to get it at that price.
 
I think the question is wherether the auction house is in on it. If not,I see no reason the seller should be excluded. One example that comes to mind is. Manny,Moe & Jack's dad dies intestate. Jack wants the old man's farm equipment but the three of them cant agree on what Jack should pay the other two. They agree to put it in an auction and take what ever it brings and split it 3 ways. Why should Jack be excluded from bidding?
 
Happens all the time at the King auctions. Most buy back so they don't get nailed. Saw a guy from MD with a 90 over G and he almost took it back to MD. Very very common. Private sale is the way to go.
 
We were planning to go to the auction in sealy but we didnt realize it was that weekend and nothing went right that day. So things were being over bidded on. We bought almost all of our farm equipment there. First time everyone went over there they snagged almost all of our farm equipment for a song. Last several times everything seems higher. I was hoping the prices would be lower now since people are selling off their equipment for this year, and figured they'd be buying in the spring.
 
If the seller winds up buying back his own consignment, he still has to pay commission to the auctioneer, so seller should be motivated to let it go at a reasonable price.
 
Local auction house charges $100. Period. Regardless of price of the item. He says it serves two purposes- reimburses him for his time in unloading, loading, etc., and also, discourages "bid-ins" on low value stuff.
 
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