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 â€œfixingâ€ 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 doesnâ€™t need to be successful.