Once when I had a used car dealer's license, I took an Olds Cutlass to the dealer's auction in Lincoln, NE. I put a $3400 protection price on it. Like you said, the paperwork was rigged so the auctioneer knew the seller's bottom dollar.
The bidding stalled out on the Olds at $3250. The ringman asked me if I'd let it go for that. I told him I had to have $3400.
The ringman replied, "We've only got one guy bidding. We'll work on him some more".
The started the bidding again and pretty soon they hit $3400 and sold it.
Sometimes on those dealer auctions, I think there are as many deals made in the parking lot as in the auction ring. And you can get permanently barred from the auction if you get caught.
I took an old Buick to the same dealer's auction once and put a $1400 protection price on it. A dealer I knew had high bid at $1250 and it was a no sale. A few minutes later the dealer asked me if I'd take $1250 if I didn't have to pay the auction commission. I told him I would. He told me to let the car sit in the lot with the keys in it and if I met him in the far corner of the lot he'd slip me a check.
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