How about this scenerio....

Bidder "A" bids $5 on a chip. The chip is really worth about $25.

Bidder "B" ( a friend of bidder "A") bids $100 on the same chip. This high bid is much more than the chip is worth and more than anyone else will bid.

Seconds before the auction ends, Bidder "B" goes in and retracts his $100 bid.

And Bidder "A" then gets the chip for his $5 bid.

Is there anything in place to prevent this sort of thing from happening?

Steve in Albuquerque