Quote:
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Originally Posted by simon
achcha,my dear fellow members ,I have a question in mind,
tell me what is Islam's view on Auction/bid ?
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Auction is permissible in Islam but some conditions applies. Such as ---
1. All interested parties have to be invited and allowed to participate.
2. No one should artificially inflate the price.
3. A deposit to enter the auction is permitted. If that party doesn't buy the good, they are entitled to get the return. If they buy something, that deposit should be counted as part of the purchase price.
Etc..
Source -
http://islamqa.info/en/ref/2150