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10-04-2003, 12:19 PM
Posted By: <b>runscott </b><p>I emailed the seller of a Honus Wagner autograph with a $175 BIN (way,way below market), running a private auction. His explanation of why he runs them as private was as follows. I thought it was interesting, as it was well-thought out, but of course doesn't wash. A BIN at 1/3 of market value, combined with a private auction, should set off alarms.<BR><BR>"Private is for your and my protection.<BR><BR>Here is my reasoning.<BR><BR>You like this item and decide you want it, your mortal ebay enemy (big bidder) decides he doesnt want you to get it. He wants its, how does he know this. He just does a advance search by bidder to see what your looking at. Waits till the last moment and out bids you. To late item has closed, he has already gotten the item you wanted. And your left wondering<BR>how did he do that to me? Actually you gave him all the info he needed.<BR><BR>Happens more than you think.<BR><BR>Now...from my side..<BR><BR>The ruthless bidder, open non-private auction. Emails all bidders early on that the item is not geniune or that seller is disreputable. Keeps the price down, scare off all competition for the item and gets it for a song and a dance.