understood but the underbidder was willing to pay $12,500 for it so the card is worth as much as someone is willing to pay $12,500 so its still market value..
also on big auction houses there are big gaps in bidding slots...especially once you get to $12,000
20% on 12,000 is $2400..i don't think a shiller would want to win the card at $12,000 to 'win' an extra $500......there could be shilling at $8000 but to me its more like a reserve..especially when there are people willing to pay over $11,000.....
as long as theres a 10-20% penalty of loss for shilling and 'winning' can we agree that the problem isn't that big of a deal...its when they don't have to pay a penalty would be the problem.....the penalty polices itself..now of course there will be extreme examples..like in everything....
...if you set a reserve to $12,500 and its bid to $12,000....the bidder will be forced to big against themselves to get it to $12,500..same outcome...
Last edited by 1952boyntoncollector; 12-24-2014 at 10:08 AM.
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