calalum
·Not sure if this has been asked and answered, but I am curious as to how ethical the big auction houses are when it comes to absentee bidding. In particular, there are a couple of items that I am interested in chasing in an upcoming auction that is in Europe. It is probably not realistic for me to stay awake until 3 am or whatever when those lots come up, so I am thinking of submitting some bids in advance. Let's say the starting bid for an item is $1,000, and I am willing to bid $3,000 and submit a bid in that amount. An unethical auction house could bid against me until my number is reached, but an honest one would have my bid top out at, say, $1,500 if the next highest bid was $1,400. Thoughts? Thanks all.