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From: The Gow's
Hi guy's got this info from E Choice web site
We've warned home-buyers several times of the real estate agent's tactic known as "dummy bidding". Now a Melbourne court case has confirmed how frequent dummy bidding is - with a well-known auctioneer admitting he pulled bids from "out of the air or from a tree" and a magistrate calling dummy bidding "deceitful, misleading and fraudulent".
From Melbourne's Age newspaper of July 4:
A magistrate yesterday condemned the widespread practice
of "fictitious bidding" by real estate auctioneers as evil,
deceitful and misleading.
The magistrate, Colin Macleod, said that "pulling bids out
of the air ... in my view, amounts to a fraud".
He made the comments in the Melbourne Magistrates Court
during a defamation case brought by prominent eastern
suburbs real estate agent Tim Fletcher.
Mr Fletcher had sued a buyer's advocate, Justin Dunne,
whom he alleged called him an idiot and threatened to report
him to the fraud squad after an auction in May last year.
Dismissing the defamation claim yesterday, Mr Macleod said:
"I find that Mr Fletcher, in using what on evidence, sadly, is a
common practice, was indulging in a deceitful, misleading
and fraudulent stratagem to boost bids."
During the trial, Mr Fletcher admitted in court that he pulled bids from "out of the air or from a tree" during auctions and said it was a legitimate tactic practised by many auctioneers.
Hi guy's got this info from E Choice web site
We've warned home-buyers several times of the real estate agent's tactic known as "dummy bidding". Now a Melbourne court case has confirmed how frequent dummy bidding is - with a well-known auctioneer admitting he pulled bids from "out of the air or from a tree" and a magistrate calling dummy bidding "deceitful, misleading and fraudulent".
From Melbourne's Age newspaper of July 4:
A magistrate yesterday condemned the widespread practice
of "fictitious bidding" by real estate auctioneers as evil,
deceitful and misleading.
The magistrate, Colin Macleod, said that "pulling bids out
of the air ... in my view, amounts to a fraud".
He made the comments in the Melbourne Magistrates Court
during a defamation case brought by prominent eastern
suburbs real estate agent Tim Fletcher.
Mr Fletcher had sued a buyer's advocate, Justin Dunne,
whom he alleged called him an idiot and threatened to report
him to the fraud squad after an auction in May last year.
Dismissing the defamation claim yesterday, Mr Macleod said:
"I find that Mr Fletcher, in using what on evidence, sadly, is a
common practice, was indulging in a deceitful, misleading
and fraudulent stratagem to boost bids."
During the trial, Mr Fletcher admitted in court that he pulled bids from "out of the air or from a tree" during auctions and said it was a legitimate tactic practised by many auctioneers.
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