Re: [MV] No bargains at auctions like G/L's - I don't get it...

From: JEFF HAIN-MATSON (flmv@flmv.net)
Date: Thu Mar 24 2005 - 07:22:55 PST


MV wrote:

> There are some things going on in this GL market that I really don't
> understand.
>
>
>
> Can GL bid up their own auctions???

Well you have just hit a very interesting point. They (GL) claim they don't do
this....... But since they have always refused to make bidder info public, (DRMS
had no problems making bidder info public, and anybody who bid knew that the info
was public, and as a "partner" of the Government you would think that the freedom
if information act would help, but it doesn't) one can only imagine that they do
in fact "run up" items they sell. At least at a live auction you can see the shill
bidders!! GL can claim they don't electronically shill bid till they are blue in
the face, but since they will never make bidder info public they will never be
able to prove that they don't do it. One can only hope they loose the contract in
a few years, but since congress didn't want to hear about it when lots of us
complained originally I doubt it will change in the future.

> I haven't read their fine print
> sufficiently to know whether that is possible or not according to their
> terms. Something simply doesn't smell right.
>
> Dave
>
>

--
JEFF HAIN-MATSON
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