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A comment on Anatomy of a $70M Auction Flop. Parent comment

Re:Anatomy of a $70M Auction Flop by torlok on Sunday May 18, 2025 @08:09AM (#44020740)
That sounds like wash trading. How is this legal?
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Re:Anatomy of a $70M Auction Flop by hiatus on Sunday May 18, 2025 @08:44AM (#44020978)
A sculpture is not a security.
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Re:Anatomy of a $70M Auction Flop by i_am_jl on Sunday May 18, 2025 @08:51AM (#44021035)
Many jurisdictions have laws specifically allowing it, as long as it's disclosed, like in the terms provided by Doyle Auction House:

The auctioneer will not specifically identify bids placed on behalf of the seller. The auctioneer may further bid on behalf of the seller, up to the amount of the reserve, by placing successive or consecutive bids for a lot or by placing bids in response to other bidders.

https://www.doyle.com/terms/

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