Do teams only trade up when they have assurance that a player will be picked at a certain spot in the draft? Or Do teams trade up expecting a player to be picked without inside knowledge? Once you are on the clock, wouldn't there be more of a benefit in leaking to other teams that you're about to select a player than keeping it to yourself? I ask this question because Doc Rocket mentioned that we would like to trade up for Booker and I'm curious generally about the process. I'm not sure if this is the proper place to ask this question...
As far I know GMs prearrange trades provided that the players they want is there. If it's not there, they don't do the trade. So i.e Morrey talks a trade with Charlotte, and the trade is completed if only Booker is available at 8th pick. These talks happen all the time, but they rarely are fruitful. That's why draft day trades are not so usual. Sometimes if a team picks the player you had aimed for before your turn, you call the GM and offer assets on draft day. But that's more often for players picked up only a few spots ahead not many. Some very few other times, the teams have talked a trade predraft, but have failled to come to an arrangement. Then the GM of the team that picks first may pick the player he knows the other team wants, and strongarm into trading. i.e the Payton trade. Gms that are on friendly terms often call each other on the day of the draft, and check what the other will pick (mostly on second round because for the first there are most teams leak on draft day anyway).
I don't know of an example that a team has agreed to a draft day trade, picked the other teams' target and then backed off and didn't do the trade..but I'm sure that it would be extremely bad for that GM's future transactions and his reputation with other teams.