The Ruling on Bid'ing in the Market
Machine translationRead the Arabic original
Question:
His other question says: Some people bring goods to the market, and the people of the market agree to leave them without buying or bargaining for them. They appoint one of them to bid on them from the owner. If he finds no one to outbid him, the owner is forced to sell to him at a low price, and then the rest share with the buyer. What is the ruling on this action?
Answer:
This is haram, and I seek refuge in Allah from it. It is deceiving people and consuming people's wealth unjustly. This is from the bid'ing (raising prices) that the Messenger (peace and blessings be upon him) forbade. He said: "Do not bid against one another." Bid'ing is when a person raises the price of a good who does not want to buy it, but only wants to raise its value for the customers. The opposite is also like this, which is when they agree not to bid on a good so as to harm its owner and make him sell it cheaply. This is a haram matter because it is deceiving a Muslim and consuming wealth unjustly. It is obligatory upon Muslims to be truthful and advise one another in this matter. Religion is sincere advice; they should not cheat or deceive, and they should let people earn their livelihood from one another as Allah provides, as in the hadith. Yes.
The presenter:
May Allah reward you
His other question says: Some people bring goods to the market, and the people of the market agree to leave them without buying or bargaining for them. They appoint one of them to bid on them from the owner. If he finds no one to outbid him, the owner is forced to sell to him at a low price, and then the rest share with the buyer. What is the ruling on this action?
Answer:
This is haram, and I seek refuge in Allah from it. It is deceiving people and consuming people's wealth unjustly. This is from the bid'ing (raising prices) that the Messenger (peace and blessings be upon him) forbade. He said: "Do not bid against one another." Bid'ing is when a person raises the price of a good who does not want to buy it, but only wants to raise its value for the customers. The opposite is also like this, which is when they agree not to bid on a good so as to harm its owner and make him sell it cheaply. This is a haram matter because it is deceiving a Muslim and consuming wealth unjustly. It is obligatory upon Muslims to be truthful and advise one another in this matter. Religion is sincere advice; they should not cheat or deceive, and they should let people earn their livelihood from one another as Allah provides, as in the hadith. Yes.
The presenter:
May Allah reward you
Source
نور على الدرب - الفوزان - 02/253 — archive.org (5:45)
The Arabic text is a machine transcription of the audio recording.