IL Auctioneer Practice Questions - Illinois Licensed Auctioneer Exam

Which of the following is considered 'shill bidding' under Illinois auction law?

A legitimate buyer placing a bid by phone The auctioneer placing fictitious bids to artificially inflate the price A seller setting a minimum reserve price An absentee bidder submitting a written bid before the auction

Correct Answer:

The auctioneer placing fictitious bids to artificially inflate the price

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