Has anyone ever been "shilled" at an auction?

STEWARTBLAYNUMIS

Shilling is the practice of consigning a(coin) to auction and then either yourself or an agent bids the coin up in order that the buyer pays more money.

About ten years ago I was at an auction run by a major coin company and a man sitting next to me was bidding me up to $11,000 for a flying Eagle cent that should have only brought a maximum of $6,000.When I asked him why he was bidding so high for the coin he told me it was because he owned the coin.

I waited a few days and deceided to confront the auction company.I spoke to a principal and he flipped out and demanded that I return the coin.As a collector I refused because I felt I would never see the coin again.I later settled that I kept the coin and the auction company received no commission.

Stewart

MrEureka

Shilling is supposedly bad because it tricks less knowledgable bidders into raising their intended bids. Let me play devil's advocate. I say, why does anyone think it's fair for less knowledgable bidders to "free ride" on smarter bidders. Let the free-riders get shilled once in a while. Turnabout is fair play.

wondercoin

"Has anyone ever been "shilled" at an auction?"

YES - Back around 1983/84, I got in my mind the notion of building a PROOF Liberty Nickel set and so I attended a major auction, planted myself in the very first row of the auction room and held my paddle up high and long enough to win most of the coins. But, on a coin or two that went over my top bid, I noticed that when I dropped my paddle down quickly, even though I was outbid by a bidder a row or two behind me , the high bidder then said he made some kind of mistake and I was awarded the coin anyway. THAT WAS MY TIP OFF THAT SOMETHING MIGHT BE WRONG.

After the auction, I politely notified the auction house of my concern and they confirmed that the bidder who was making those "mistakes" was the consignor of the coins!! Boy, did I feel stupid!! The auction company offered to waive their 10% commission on all the lots I won in the auction in exchange for me accepting the coins. I accepted, in part, to ensure fine relations with the auction company in the future, which is important I believe.

The lesson learned was also invaluable and I believe I still own a few of those raw Proof Lib Nickels, which reside in safeflips with the auction cardboard inserts. Wondercoin

coinguy1

Stewart,

I am confident that many, if not most of us, who have participated in public auctions have been "shilled."
We probably weren't aware of it, though.

banknote1

Coinguy is correct! We have all been shilled. Most of the reputable auction houses frown on their consigners bidding on their own stuff on the floor. But it is their interest if it doesn't get caught!!

Their is a lot of shilling going on on ebay as well!!!

STEWARTBLAYNUMIS

What are the laws relating to shilling? Let's hear from Adrian Crane or Michael Fattorosi.Does it vary state to state?

Mr Eureka = This is not the way you screw someone !!!!!!

Stewart

MrEureka

Mr Eureka = This is not the way you screw someone !!!!!!

You have a better idea?

ElectricEye

Little John's in Orange County even has the nerve to use employees to shill bid...unless you have visited their retail store, you may not recognize the shills...they are usually office staff

dorkkarl

<< <i>Has anyone ever been "shilled" at an auction? >>

what auction-goer hasn't?

K S