Sayyiduna Sufyan bin Wahb (may Allah be pleased with him) narrates: I heard the Prophet (peace and blessings be upon him); he (peace and blessings be upon him) forbade "muzayadah" (that is, buying something by raising the bid).
Al-Bazzar recorded it, and its chain is hasan (good).
Hadith Referenceمجمع الزوائد ومنبع الفوائد / كتاب البيوع / 6381