Shill bidding? You decide
tlhoy
Posts: 2,204
Shill bidding?
Buyer "jremo7" Seller "dew1111"
rare 1978 pcgs ms66 1oz krugerrand gold Jan-15-05 jremo7 Wins
rare 1978 pcgs ms66 1oz krugerrand gold Jan-26-05 jremo7 Wins
2002 ms69 certified by ngc $25 gold eagle Jan-15-05 jremo7 Wins
2002 ms69 certified by ngc $25 gold eagle. Jan-26-05 jremo7 Wins
Edit to add: Pictures of coins removed.
Buyer "jremo7" Seller "dew1111"
rare 1978 pcgs ms66 1oz krugerrand gold Jan-15-05 jremo7 Wins
rare 1978 pcgs ms66 1oz krugerrand gold Jan-26-05 jremo7 Wins
2002 ms69 certified by ngc $25 gold eagle Jan-15-05 jremo7 Wins
2002 ms69 certified by ngc $25 gold eagle. Jan-26-05 jremo7 Wins
Edit to add: Pictures of coins removed.
0
Comments
-Dan
<< <i>Glenn, you missed a very important part of all four of those auctions. RESERVE NOT MET >>
Yea I see that. Here's his bidding history.
loyal customer
smart bidder
very unlucky
almost got this one
near miss
eclectic tastes, but didn't bid enough
missed it by $1
doh, almost had it
How'd he let a perfect one get away?
I'll give 8 to 5 odds that the reserve on this auction is $2025
My hands are getting tired.
<< <i>What's a shill bidder? >>
A shill bidder is someone who has a friend bid on his auctions for him, or the seller has another eBay ID and bids on his own auctions to raise the price of the item selling.
They do this to get the highest price possible.
In this case I don't think this is a shill, but jremo7's bidding does raise some flags.
<< <i>Again, look at those auctions, reserve not met. It would be pointless for a shill to bid under the reserve. >>
Er... yeah... right
<< <i>
<< <i>Again, look at those auctions, reserve not met. It would be pointless for a shill to bid under the reserve. >>
Er... yeah... right
I suggest you read up on eBay's proxy system. If a legitimate bidder places a proxy that meets the reserve, the bid automatically goes to the reserve price and it shows reserve met. Again, there is no point for a shill to bid under the reserve price.
But shilling just under the reserve does indeed serve a purpose. Not only does the shill bid make it appear as though there's underbidder "action" for the coin, it also ensures the very next bid will be over the reserve and thus the buyer is committed to the coin. Thus it helps the fraudulent seller cross that threshold and lock in the buyer, while still maintaining some air of authenticy by fooling the buyer into thinking he was the one that got over the hump.
I understand your point: why set a reserve when you can simply use a shill as a "proxy" for the reserve price? I think I've provided a reasonable answer. What's more, just look at all those "just missed" bids, all with the same seller, and all of them at what appear to be just below the reserve prices, from a bidder with a feedback of . . . 1. Sorry, that dog don't bark.