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Bidding off the wall, or taking bids from the chandelier, as it is sometime known, is where the auctioneer bids on behalf of the vendor. This is allowed by law in some countries and states, and the auctioneer is allowed to bid on behalf of the vendor up to, but not including, the reserve price.
In the United States, chandelier bidding is not illegal. In fact, an auctioneer may bid up the price of an item to the reserve price, which is a threshold below which the consignor may refuse to sell the item. However, the auction house is required to disclose this information.
The debaters described "chandelier bidding" as bids from the chandelier, or bids from an unknown source, meaning both the bidding by the auction houses on behalf of the sellers whose items the houses are auctioning (a conflict of interest), and bidding by unidentified bidders having no intention of buying but bidding in order to drive prices up ...
WEST PALM BEACH, Florida/WASHINGTON (Reuters) -U.S. President Donald Trump on Friday dismissed Colleen Shogan, the Archivist of the United States, and announced plans to shake up the board of the ...
A chandelier is a decorative ceiling-mounted light fixture. Chandelier may also refer to: "Chandelier" ... Chandelier bidding, a bidding strategy in auctions;
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Patrick Mahomes is batting down claims of preferential treatment as the Kansas City Chiefs move ever-closer to a Super Bowl berth.. With his team being one win away from the title game and after a ...