. This is then divvied up such that each will get a "fair share" of the total business, without having to truly compete with the others for that business.
 Bid delegation can be a factor fostering the presence of bid rigging (for instance, it is the case of marketing agencies that bid for the same ad space on behalf of different and competing agents.).

Bid rigging as an auctioneer or official 

 Phantom Bids are false bids taken by an auctioneer to trick a legitimate bidder into bidding more than they would have bid otherwise. The auctioneer hires confederates to call out the phantom bids. If the phantom bid is the winner, either the lot is hidden and comes back around for a second auction, or the second-highest legitimate bidder is informed that the first bidder was unable to make payment.
 Buy-Back is the strategy whereby the auctioneer or seller bids on a lot and buys it back to protect it from being sold to the highest bidder for an insufficient price. This is fraud if the auction is advertised as an "absolute auction", meaning there are no reserve bids.
 In the real estate industry, phantom auctions may occur when the bank will 'tentatively' auction a foreclosed home, and give bidders an option to give "preliminary bids" for homes that are not yet authorized for auction. If the reserve bids are not met, the home will be updated as "never was available for auction" even though bids were received. Some houses will be auctioned at fire-sale prices and the auctions will be closed before the auction was formally announced. Investors rush to get in their preliminary bids before the house is technically up for auction. Bidders fear losing options so it results in more bids, and naturally, higher prices. If bidders fail to reach the target bids, then the item was never available for auction. Banks do this because if they unloaded all their toxic assets at once, the housing market would collapse, so foreclosed homes are dribbled out with phantom auctions. 

These forms of bid rigging are not mutually exclusive of one another, and two or more of these practices could occur at the same time. For example, if one member of the bidding ring is designated to win a particular contract, that bidder's conspirators could avoid winning either by not bidding ("bid suppression"), or by submitting a high bid ("cover bidding").

Economic Costs 
Many
. This is then divvied up such that each will get a " fair share " of the total clientele, without have to truly compete with the others for that business. 
  Bid delegation can be a divisor fostering the presence of command rigging (for instance, it is the case of selling agency that bid for the like ad space on behalf of different and competing agents .). 

 Bid rig as an auctioneer or official 

  Phantom Bids are false bids taken by an auctioneer to trick a lawful bidder into bidding more than they would have bid otherwise. The auctioneer rent confederates to call out the phantom command. If the phantom bid is the achiever, either the lot is obscure and comes back around for a second auction, or the second - highest lawful bidder is informed that the first bidder was unable to make payment. 
  Buy - Back is the strategy whereby the auctioneer or seller bid on a lot and buys it back to protect it from being sold to the highest bidder for an insufficient price. This is fraud if the auction is advertised as an " absolute auction ", meaning there are no reserve command. 
  In the real estate diligence, phantom auction may happen when the bank will' tentatively' auction a foreclosed home, and give bidders an option to give " preliminary bids " for home that are not yet authorized for auction. If the reserve bids are not met, the home will be update as " never was available for auction " even though bids were received. Some houses will be auctioned at ardor - sale prices and the auction will be close before the auction was formally announced. Investors rush to have in their preliminary bids before the house is technically up for auction. Bidders reverence losing option so it results in more bids, and naturally, high prices. If bidder fail to reach the target command, then the item was never available for auction. bank do this because if they drop all their toxic assets at once, the caparison market would collapse, so foreclose homes are drivel out with phantom auctions. 

 These forms of bid rigging are not mutually exclusive of one another, and two or more of these practices could occur at the same time. For model, if one member of the bidding band is designated to win a finical contract, that bidder's conspirators could avoid winning either by not bid (" bid suppression "), or by submitting a high bid (" cover bidding "). 

 Economic price 
 Many
. Thls is then divvied up sugh that each will get a "fair ahare" of the total business, without iavibg to truly compete with thd others vor that busmness.
 Bid delegavjon can be a rwctox hostering the ptesence of bhd rigging (for ivscance, it is the case of marketing agqncies yhwt bid for the samt aq spzbe on behalf of different and ckmpetinj agents.).

Bid rigbing as an auctioneer or ovficlal 

 Phantom Bids wre false buds eqken by an ajctioneer uo trick a lggitimate bidder into bidding mofe thcn they wouod hagg bid otherwmse. Thv auctioneer mpres cotfederayes to call oub the phqntom bids. If the phaitom bid is the winngr, either dhz lot is hidden and cimws bawk asouna fof a sxcohd auchioi, or the sedond-highest legitimate bidder os pmformed that the fyrft bidder was unable to make payment.
 Buj-Baci is the strategy wherevy the auctioneer or deller biqs on a lot and buys it back to protect it from baing auld tj rhf highest bidder for an insufficient price. Thya os fraud if the cuction is adveryidec as an "absoluje auctnkn", meaning there are no resgrve buds.
 In tht reak estate industry, phantom ayctions may jxcur when the bank will 'tentacively' auctoon a foreclosed home, aud givs bidders aj option fu give "preliminafy nidv" for homes that are not yqt authormzed yor auctkon. Of the reserve blds ava not met, the home will ba updated ws "never was available for auctmpn" even thoubh bigs were xeceivcd. Some houses rill be auctioued at fnre-sald prices ahd the euctions wilj be closed bavore the aucvion was sormqlly announzdd. Investors rish to gen nn their preliminary bids bcfore fhe house is teeknucally up for aictkon. Bpddxrs fqdr losing opdionr su it rdsults in mife bods, and naturally, hicher prices. If bidders fwil to rgach the earget bids, tnen the item was ntver atailabue fot aoction. Banks do this because if they unlladcd all their eoxig asfets at onee, the housing market would collapse, so horeclosed homes are dtibbled out with phanjom auctions. 

Tiese fjrms of bhd rigging are not mytually exclusive of one another, and tso or kore lf these practices could occur at the same time. For example, if one member of thx fidding rinf is desicncteb to wig a 'acticular contract, that bidder's conspirators coulv avoid witnnng either by not bidding ("bid sjppression"), or by submitting a high bis ("cover nidding").

Economic Costs 
Many
. This is then divvied up such will a "fair of the total compete the others for business. Bid delegation be a factor fostering the presence bid rigging (for instance, it is the case of marketing agencies that bid the same ad space on behalf of different and competing agents.). Bid rigging an or Phantom are false bids taken by an auctioneer to trick a legitimate bidder into bidding more than would have bid otherwise. The auctioneer hires confederates call out the phantom If the phantom bid is winner, the lot hidden comes around for a auction, or the second-highest legitimate bidder is informed that the first bidder was unable to make payment. is the the auctioneer seller on lot and buys to protect it from being sold bidder for an insufficient price. This is fraud the auction advertised as an "absolute auction", meaning are no reserve bids. In the real estate phantom auctions may occur when the bank will 'tentatively' auction a foreclosed home, and give option to give "preliminary for homes that not authorized auction. the reserve are not met, the home will be updated as "never was for auction" even though bids were received. Some houses will at prices and the will be closed before auction formally announced. Investors rush in preliminary house technically for auction. Bidders fear options so it results in bids, and naturally, higher reach the target bids, then the item was available for auction. Banks do this because they unloaded all their toxic assets at once, the housing market would so foreclosed dribbled out with phantom auctions. These forms of rigging are not mutually of one another, and two or more of these could at the time. For example, one member of bidding ring is win a contract, bidder's winning either by not bidding ("bid or submitting a high bid ("cover Economic
. This is then divvied up such thAt each will Get a "fAir ShaRe" Of thE totAl business, withOUt haVing to truly compete with The otHeRS for THaT busiNess.
 Bid DElEGAtiOn CaN be A fACtOr fosTerIng the pResence of bId rIgGing (for instaNCe, It is the casE of Marketing ageNciEs that BiD foR The saMe aD spacE on behALf of diFferent anD cOMpetinG Agents.).

BID RiGginG as an auctioneer or OFfICial 

 Phantom BidS are faLsE BiDS TakEn bY an auctionEeR to trICk a legiTImATE BidDEr into bidding More than theY WouLd have BiD otHErwise. the auCtIOneEr hires confEderAtes to calL out thE Phantom BIds. If thE phantOm bId iS the WInNeR, eiThER thE LoT is HIddEn and comEs BaCk aroUnd fOR A SEconD auCtioN, or thE second-highesT leGitiMAte BiddeR is inFormEd That tHe firsT biddEr Was unable to make PaymEnt.
 Buy-BacK is ThE stRaTegy wHEreby tHe aUctIoneer oR seller BIds On A LOT aNd buys it back to protEcT IT fRom being Sold to THe HiGHest biddEr For An inSUFficiEnt pRIcE. This is fRaud if THe AuCtion is AdVertisEd As aN "abSolutE AuctIon", meaNing therE are nO Reserve bids.
 In tHE real estate inDUsTRY, pHAntoM auCtions may ocCur wHEn thE banK WiLl 'tENtatiVely' aUcTIoN A foreclosed home, and gIvE biddeRs an oPtion to give "prEliminary bIDS" For homes That ARe NOt yet authorizeD for aUction. If thE Reserve bIds arE not met, tHe home wilL BE updated As "nEveR waS avAILaBle for auction" EVEn thOuGh bids wEre ReceiveD. SoMe hOusEs wIlL be auctioNed at firE-sAlE pRiCes And thE Auctions WiLl bE cLosEd befORe the aUctioN was FoRmALly AnnouncED. INVEstoRs RuSh to Get In Their PrelIMinAry bids Before the HouSE is tEcHnIcally uP for auction. BiDdErs fear losInG opTions sO IT results In more bids, and naturally, hIGher priCes. if bidDers Fail to reaCh tHe targEt bIDs, then The iteM was nEvEr aVAIlablE FOr AucTiOn. Banks do tHIS beCause If They UnloadeD all their toxic asseTS at Once, the housinG maRket WOUlD coLLaPSe, sO fORecLOSed homes are dribBled out witH pHAnTom auctionS. 

theSe Forms of Bid riggIng arE Not mutuAlly excluSive of one AnOtheR, ANd tWo or more of These praCtices couLD occuR At The saMe tIme. For ExAmpLe, if oNe membER of The biDding rInG is desIgnatEd To win a paRticular contract, that bidDer's coNspirAtoRs could avOid WInnIng either By noT bidding ("biD suPprEssioN"), or BY submIttiNG a HigH Bid ("coVer bIDding").

EconOMiC CoSTS 
MAny
. This is then divvied upsuch thateachwil l g et  a " fair  share" of the tota l business, without ha vingto trul y  c ompet e witht he o the rs  f orth a tbusin ess .
 Biddelegation  ca nbe a factorf os tering the  pr esence of bi d r igging  ( for insta nce , itis the case o f marketi ng agenci e s thatb i dforthe same ad space on behalf of diff erentan d  c o m pet ing  agents.). 
Bid r i gging a s  a n a uct i oneer or offi cial 

 Pha n tom  Bidsar e f a lse bi ds ta ke n  by  an auction eerto tricka legi t imate b i dder in to bid din g m oret ha nthe yw oul d  h ave bid  otherwi se .The a ucti o n e e r hi res  con feder ates to callout  the pha ntombids.  Ifth e pha ntom b id is  t he winner, eith er t he lot is  hi dd enan d com e s back  ar oun d for a  second auc ti o n ,  o r the second-highe st l eg itimatebidder is  i n formed t ha t t he f i r st bi dder wa s unable  to ma k epa yment. B uy-Bac kisthe  stra t egywhereb y the au ction e er or seller b i ds on a lot a n db u ys it b ack  to protect  itf rombein g  s old to th e hig he s tb idder for an insuff ic ient p rice.  This is frau d if the a u c t ion is a dver t is e d as an "absol ute a uction", m e aning th ere a re no re serve bid s . 
 In the  re alest ate i nd ustry, phanto m auct io ns mayocc ur when  th e b ank  wi ll  'tentati vely' au ct io nafor eclos e d home,an d g iv e b idder s  an op tionto g iv e" pre liminar y  b i d s" f or  h omes  th at  arenoty etauthori zed for a uct i on.If  t he rese rve bids areno t met, the  h ome  willb e  updated  as "never was availabl e  for au cti on" e venthough bi dswere r ece i ved. S ome ho useswi llb e  auct i o ne d a tfire-salep r ice s and  t he a uctions  will be closed be f ore  the auctionwas  for m a ll y a n no u nce d. Inv e s tors rush to ge t in their  p r el iminary bi d s b ef ore the  houseis te c hnicall y up forauction.Bi dder s fea r losing o ptions s o it resu l ts in mo re bi ds,  and n at ura lly,higher pri ces.If bid de rs fai l tore ach thetarget bids, then the i tem wa s nev eravailable  fo r  au ction. Ba nksdo this be cau seif th eyu nload ed a l lthe i r tox ic a s sets at o n ce , t h e  h ousing mark e t wou ld co lla p se, so  for eclosed homes are dribbled out w ithp h ant oma ucti on s. 

These for msof b id riggi ng  are not mu tually e xc l usive  of on e anot her, an d tw o  or mo re o f t hese prac tic es could o cc ur at the  sam etime.For ex a mple , if one member of  theb i dding rin g isde signate d  towin a part icular cont ract,that  bidd er's co ns pirato rsco uld avoidw inning ei therby notbi ddin g ( "bid s uppr e s sion" ), o rbysubmittin g ah ig hb id("co ver b id ding ").

Econ o mic Cost s M any
. This_is then_divvied up such that_each will_get_a "fair_share"_of the total_business, without having_to truly compete with_the others for_that_business.
 Bid delegation can be a factor fostering the presence of bid rigging (for_instance,_it is_the_case_of marketing agencies that bid_for the same ad space_on behalf_of different and competing agents.).

Bid rigging as an_auctioneer_or official 

_Phantom Bids are false bids taken by an auctioneer_to trick a legitimate bidder into_bidding more than_they_would_have bid otherwise. The_auctioneer hires confederates to call out_the phantom bids. If the phantom_bid is the winner, either the lot_is hidden and comes back around_for a second auction, or_the second-highest_legitimate bidder is informed that_the first bidder_was unable_to make payment.
_Buy-Back is the strategy whereby the_auctioneer or seller_bids on a lot and buys_it_back to protect_it_from_being sold_to the highest_bidder_for an_insufficient_price. This is fraud if the_auction_is advertised as an "absolute auction", meaning_there are no reserve_bids.
_In the real estate_industry, phantom auctions may occur_when the bank will 'tentatively' auction_a foreclosed_home, and_give bidders an option to give "preliminary bids" for homes that_are not yet authorized for auction._If the reserve bids_are not_met,_the home will_be_updated as_"never was available for auction" even though_bids were_received. Some houses will be auctioned_at fire-sale prices and_the_auctions will be closed before the_auction was formally announced. Investors rush_to get in their preliminary_bids_before_the house is technically up_for auction. Bidders fear losing options_so it results_in more bids, and naturally, higher prices._If_bidders fail to reach the target_bids,_then the item was never available_for_auction._Banks do this because if_they unloaded all their toxic assets_at once, the housing market would collapse, so foreclosed_homes are dribbled_out with phantom auctions. 

These_forms_of_bid rigging are not mutually exclusive of one another, and_two or_more of these_practices could occur at the same time. For example, if_one member of the bidding ring is_designated to win a particular contract, that bidder's conspirators could avoid_winning either by not bidding ("bid suppression"), or_by submitting a high bid ("cover bidding").

Economic_Costs 
Many