Quote:
Originally Posted by 1952boyntoncollector
however on the 1952 topps mickey mantle psa 5 was sold for for $30,000 last week to a real buyer..but we are told that there were some shill bids that were under the final price, would that really impact the value?
|
Yes, shill bidding impacts the value of cards.
Leaving aside the particular auction you cite, please allow me to explain.
- Card X (could be a '52 Mantle, could be something different) is up for auction
- There are a number of bids on the card, all of which are legitimate
- Bidder Y is currently winning the auction at $10,000
- Bidder Y has placed a max bid of $12,500
- Bidder Z (who actually owns the card and is selling it in this auction) places a shill bid of $12,000
- Bidder Y wins the auction at $12,100
In the example above, Bidder Z stole $2,100 from Bidder Y. Additionally, to answer your question, Bidder Z has impacted the entire market for Card X.
Because of his unethical shill bidding, the card's market value is now perceived to be $12,100. Had he not placed the shill bid, the market value would have been perceived to be $10,000.
So, Bidder Z has not only robbed someone, he also caused future buyers (in the short term, at least) of Card X to overpay.
Hope this makes sense. And please know this isn't an attack.
Best regards,
Eric