Dave, Good points but also back to another problem I found about " reserves"
I had consigned a few very high ticket items (Not Legendary) and I also wanted a reserve (sorta high) placed on the items. I was told that most auction houses dont like reserve because if the reserve on that item was possibly put to high then all the work that the AH did for you I.E. photos taken , descriptions written by staff, room taken up in the catalogue etc. would be lost if the item or items didnt sell. I found out that they would rather make something in and out (buyer ,seller) than nothing... on your dime!!

guess it got taken down?

Thats EXACTLY where i was leading..... i bet no one paid for a single one....

I think it was a joke....just look at the URL :)

well heritage lets you do a reserve but you pay them a percentage or something if card doesn't sell.....some auction houses make you pay 20% on the highest bid if card doesn't sell...that way you wont have an unrealistic reserve and waste their time..

Let's say Mr. Goldbrick consigns an item with mr maestro, who wants a lower minimum bid than Goldbrick is comfortable with. Mr All-in suggests that a friend could bid to the minimum in Goldbrick's comfort zone. A bid in the name of mr spacecadet is then made.

Mr. Spacecadet then wins the auction. Spacecadet then pays mr maestro for the item with fees. Then Spacecadet returns the item to mr Goldbrick, who reimburses him for his costs and thanks him.

Mr All-in is IMO guilty by suggesting the scheme. Mr Goldbrick is perhaps negligent in retrospect for playing along. Mr Spacecadet is not guilty. The outcome pleases all parties. No names ever appear on a "shill" list nine years later.

I would suggest that this scenario occurs more frequently than many of us would imagine. This scenario would also fly under the radar and would be deniable by all concerned.

You may be correct now but back lets say several years ago most auction houses frowned upon reserve...

And also if you were one of the ones on the "Special Packages" list I bet you didnt have to pay a dime!

The $7K goes right back to you, the consignor, You lose the $1.4K AH fee but may get $3K more later.

It's still shill bidding if you pay the BP and buy your own item back. It seems like you're all saying it's not.

-Ryan

For those that are wondering why anyone would buy their own card rather than it selling low, here is how it works. You bought a card for $1000, and now you feel it is worth $10000. You decide to send it to an auction house. Many auction houses will waive the consignor fee on high profile items, and will offer to share a percentage of the buyers premium with the consignor as well, for ease of math, let's say half. So the auction is closing, and your card is going to close low, so you buy it through your buddy at $5000. You now pay the house $6000, and they cut you your consignment check for $5500. You now have a total of $1500 invested in the card. Had you not bought the card and it sold to someone else for $5000, you would have made a profit of $4500. You didn't let it sell, so you consign it a couple months later, this time it sells for $7000 (same terms). You get a check for $7700, a profit of $6200. That is why people buy their own consignments instead of letting them sell low. I have never consigned a card, I don't have any of the big dollar collections, but I can figure out the "why" of it. This is in no way meant to condone any practice, I am just trying to clear the reasoning up. It is purely based on profit margins. I am also sure that, as an apprentice collector, I still don't understand or explain here all the nuances involved in the business end of this (I haven't even mentioned how setting historical sales records come into play as a reason for buying your own card), but I think my example paints a fairly accurate picture. Please correct me if I am wrong. No opinions of anyone listed in my post, per the rules. :)