MA Auctioneer Practice Questions - Massachusetts Licensed Auctioneer Exam

Under Massachusetts law, what is a 'phantom bid' or 'chandelier bid'?

A bid placed by an anonymous telephone bidder A fictitious bid taken by the auctioneer to create the appearance of competing interest A bid placed by a buyer using a fake name A very high bid intended to discourage other bidders

Correct Answer:

A fictitious bid taken by the auctioneer to create the appearance of competing interest

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