Quote:
Originally Posted by Runscott
I think in almost all cases bid retractions are bad - bad for the seller in that they 'usually' look bad to his other paying customers. But Phil showed us an example of where perhaps they are not bad for the seller: if Phil is sending the seller lots of business, but the only way he can do this is by sometimes retracting bids, and he informs the seller(s) of this in advance, then as a buyer I would be stupid to block him, unless his retractions make him appear to my other customers that he is a shill. I like money as much as the next guy.
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When he is an underbidder on a lot and he shows 93 retractions in the last 6 months, he looks like a shill to a lot of people, at least according to an untold number of threads on NET54 in the last several years dedicated to PWCC, Probstein, etc....
When he retracts a bid on a lot, and it shows he has 93 retractions in the last 6 months, he REALLY looks like a shill to everybody else who is left bidding on that lot.