Wednesday, August 19, 2015

Term of the Day: Chandelier Bid

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August 19, 2015
Chandelier Bid

A bid that is announced by an auctioneer during an auction that has not been signaled by a participant, but has rather been fabricated by the auctioneer in order to create the appearance of greater demand for the item at auction.

Breaking It Down:

Chandelier bids are so named because the auctioneer announcing the bids may point to the ceiling or other areas of...

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