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The jurists have stated that this ruling applies while the option of the session (khiyār al-majlis) or the stipulated option (khiyār al-sharṭ) is still in force. Shaykh al-Islām, Ibn al-Qayyim, Ibn Rajab, and many other critical scholars held that it remains forbidden even after those options have lapsed, because such conduct breeds enmity among Muslims and may prompt the person who has been offered a higher price to look for ways to annul the original sale.
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Sharḥ al-Zād says: The contract is rendered void when someone sells over another’s sale or buys over another’s purchase. As for bidding over his bid, it is unlawful, yet if the contract is concluded it is not invalidated.
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Shaykh Taqī al-Dīn said: The same prohibition that applies to selling over one’s brother’s sale extends to every other contract and to seeking positions of authority and the like, for it is a cause of mutual hatred and enmity.
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The fourth matter is “bidding against his bid.” This means that the owner of a commodity and an interested buyer have agreed on the sale but have not yet concluded it; then a third party says to the owner, “Take it back—-I will buy it from you for more,” or says to the prospective buyer, “Return it, and I will sell you something better for the same price, or something similar for less.”
Al-Ḥāfiẓ remarked: What is not intended here is the bidding on merchandise publicly offered in the marketplace by way of an open auction, for that is unanimously permissible, as evidenced by the incident of the muḍabbir recorded in the two Ṣaḥīḥs, where the Prophet (peace and blessings be upon him) said, “Who will buy him from me?”
- Resolution of the Islamic Fiqh Council on the subject of the “Auction Contract”:
In the name of Allah, Lord of the worlds; and may blessings and peace be upon our master Muhammad, the seal of the prophets, and upon his family and companions.
The Council of the Islamic Fiqh Academy, convened at its eighth conference session in Bandar Seri Begawan, Brunei Darussalam, from 1 to 7 Muḥarram 1414 AH (21–27 June 1993 CE),