Auctions corruption in Egypt

Question

I've been to auctions in Egypt before, and I've noticed that there are some people who go there with the itention either to spoil the deal by raising the price or get some money under table

I was wondering.. is this practice common anywhere else in the world?

Answer 1

It's true, common practice everywhere, take a look at ebay the feedback system and money laundering are a joke,you wont get far in this world by being honest....

Answer 2

My dad seals the deal.

but if someone tries to compete with him an raises the price.my dad just walks away

Answer 3

Yeah, there's a lot of potential for corruption in auctions. Such as having a plant in the audience who artificially raises prices, or the owner bidding against himself to drive up the price, or purchasers conspiring. These things go on on ebay, too. They're mostly illegal in the US and Europe. There was a huge scandal 10 or so years ago in which fraud in the big auction houses of Christie's and Sotheby's was revealed.

Answer 4

this happens all over the world .

we learned from them!