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Agents Running Scared

  1. bbm

    2,263 Posts.

    Let's hope the agents go under the "hammer".

    From The Age

    Agents to fight back
    October 26 2002
    By Aileen Keenan

    Proposed legislative changes before State Parliament will hammer Melbourne's auction system, according to a new lobby group for auctioneers.

    The group, which claims to represent 80 per cent of Melbourne's auctioneers, believes the changes, which outlaw dummy bidding and force agents to declare when the reserve is reached, could end Melbourne's idiosyncratic selling system.

    Biggin & Scott director Tom McCarthy said the debate had been one-dimensional, focusing on dummy bidding and underquoting and overquoting.

    He said the changes would damage the auction system and secondary businesses. Vendors would lose control by no longer being able to use dummy bids.

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