Shill bidding...

mrpaseo

I was just reading another thread/ebays take on shill bidding...

Given time and assets, one could make say three or four real user names on Ebay, have a pretty good feedback of over say, 50 positive feedbacks, and could go into business for themselves pretty easy.

One of them lists a coin, the other three Id's Bid it up, only one sucker need bid to win.

I know it would be a gamble, I know eventually they would be caught due to same people bidding on the one auction... But done right.

Scary

kieferscoins

Yeah, thats how it is done.

Cameron Kiefer

badger

Ebay, TT and Heritage provide for reserves that ensure that you get the minimum you need for a coin. Why go with shill bidding? Is it to get bidding action? Is it to support pricing history for the market with apparent sales?

Setting a reserve seems a better approach.

jdsinva

<< <i>Ebay, TT and Heritage provide for reserves that ensure that you get the minimum you need for a coin. Why go with shill bidding? Is it to get bidding action? Is it to support pricing history for the market with apparent sales?

Setting a reserve seems a better approach. >>



I'm not sure about Heritage and TT but on eBay, it costs an additional fee to list with a reserve. Additionally, a reserve auction often does not attract the bidding like a non-reserve auction. To get around this, sellers list with a low start (and low eBay fees) and then have their shill run the price up. This accomplishes two things, it effectively brings the coin up to the unpublicized reserve and it makes the coin look like it is getting a lot of bidding action (which attracts more bidding). Essentially, it's a money saving measure on eBay.

Jeff

Sphinx357

9 times out of 10, if an auction has a reserve, I won't look twice at it, and I imagine others feel the same.

wjd283

Shilling an auction would be so easy to do.For that reason,I feel that a good 25% of ebayers take part in this practice.