Having grown up on a farm with cattle, I have a lifelong experience with auctions from both sides. Cattle auctions, horse auctions, equipment auctions, farm dispersal auctions, estate auctions.
And I hear all the time from others, "I refuse to attend 'such and such auction', those [bleep] have shills in the audience.
I always looked at it as sour grapes. A guy is just pissed because he did not get the super good deal he had hoped for.
If I have something to sell, I hire an auction house to get me the best price they can. I care not if the auction house buys my item, hoping they can get a better price at a later date. That happens all the time. The Auction House bids on an item. Sometimes they end up buying it. About every six months, the Auction House has a huge lot of merchandise gathered up and they hold their own auction to dispose of it. Sometimes I see that some items never leave the lot. Apparently they even buy back some of their own merchandise.
As a buyer, I know what I am willing to pay. I do not get into "Bidding Contests". I have no problem passing when the price gets higher than I wish to pay. If it is the previous owner bidding against me, or the auction house, why would I care?
As a seller, it is a common occurrence for an owner to bid on his own livestock or equipment, if it looks like it is going to sell for less than he thinks it is worth. If the owner "buys it back" he still has to pay the auction fees.
What could be more fair than that?
