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Updated over 5 years ago on . Most recent reply

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Robert Steele
  • Investor
  • Lucas, TX
351
Votes |
618
Posts

Collusion at Auctions

Robert Steele
  • Investor
  • Lucas, TX
Posted

I thought colluding at an auction was illegal? I see people colluding at Trustee sales all the time. They bid, then when two of them have run out of money they team up to continue bidding. Is that collusion? I also see them say things like "if you let me get this one, I'll let you get the next one". I'm pretty sure that is definitely collusion.

They do this brazenly in front of the Trustees. But the Trustees are not law enforcement and so they don't care. I'd expect that they have a fiduciary responsibility to get the best price and letting bidders collude is not conducive to that responsibility though.

Well now some of the Trustee sale clic are coming over to the Tax Sales and doing the same thing. Right in front of the Constable Deputies! They don't seem to care either. WTF?

Am I wrong about this. Is it totally legit?

Most Popular Reply

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2,953
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Alexander Felice
  • Guy with Great Hair
  • Austin, TX
4,475
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2,953
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Alexander Felice
  • Guy with Great Hair
  • Austin, TX
Replied

You comment didn't provide a question. You basically just said that they have more resources and are leveraging those in an effort to gain an even stronger position......that is exactly how capitalism is supposed to work. 

I have no idea if what they are doing is legit or not, but just because something is against the rules doesn't mean it's not going to happen.  My advice would be to stop focusing on how you think the game should be played (the rules) and start competing in the game that's actually being played. 

Life aint fair yo ;) 

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