An unlawful practice in which two or more people agree not to bid against one another in order to deflate the potential value of an item. See collusion.
Also known as collusion. This practice usually involves several users who agree not to bid against each other on an item in order to lower its value.
When two or more people conspire to restrain trade by artificially “fixing†bids in an auction. This can occur when bidders agree not to bid against one another so as to depress selling prices, or when an auctioneer and one or more others agree to try and artificially increase selling prices. The conspiracy is the crime and it doesn’t need to be successful.
Fraudulent bidding in order to inflate the price of an item. Also known as shill bidding.
is an indictable criminal offence under the federal Competition Act. Bid rigging occurs when there is collusion among bidders or potential bidders in the submission of bids. 6.3.6c
When two bidders, or a bidder and seller, agree to work in concert to raise or lower an item's price. See Bid Shielding, Shill Bidding.
An unlawful agreement between two or more people, not to bid against one another to deflate the auction value and to cheat the seller. Also known as collusion.
The unlawful practice whereby two or more people agree not to bid against one another so as to deflate value.
Bid-rigging is an illegal agreement between two or more competitors. It is a form of collusion, which is illegal in the United States. It is a form of price fixing and market allocation, and involves an agreement in which one party of a group of bidders will be designated to win the bid.