I was at a house auction the other day and it was looking pretty dead. The only person who bid was some mysterious bidder on the phone. I have a strong suspicion that this person was made up to pressure us into outbidding him to buy the house.
The phantom ended up winning the bid but it was “passed in” because it didnt meet the reserve.
Is phantom bidding a legal tactic used to pressure other bidders to outbid them?
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I believe all shilling is illegal not matter where you live. Problem is that you would have to prove it. Just keep a close eye on the house and see if it gets listed or re-auctioned. (not sure about the reserve, that would mean your bid won’t have won either?)
We had the same problem but the people did want the house- the listing agent had all his friends come to buy this house, cause I think he told them it was worth so much and they could get it for half the price. We kept outbidding them by once grand and they final gave up. We tech. can’t do anything about the auction since they were legit bidders but now we are trying to find a moral clause to get the listing agent on.
Im an Aussie and Im sure there was a big thing about this last year. Its definetly illegal. I was in Melbourne at the time and it may have only been for Victoria but Im sure it wouldnt be hard to find out. Maybe go to another Estate agent and explain (without naming and shaming) and see if they know any different.