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Pooling Definition
In terms of antique, pooling refers to bid pooling where bidders agree not to compete so that the antiques sell at a lesser price. It is also known as bid rigging. The bidders buy the merchandise at auctions at noncompetitive prices. Any agreement between bidders which lessens competition is pooling. Bid pooling is a criminal offence.
Added By:
laws-admin
Category:
Antiques