Quote:
Originally Posted by barrysloate
A ceiling bid is a valid option. Not everyone can stay up until 4:00 AM to bid. If it's handled honestly by the auction house it's a useful bidding tool.
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Ahhhhh... Now we may be on to something. I have never left a ceiling bid, not because I am worried about shilling, but because I am worried about other bidders. This is, of course, why "sniping" on ebay is so vital. If you place a "ceiling bid" on ebay you can only pay more for an item than if you had placed a "snipe" instead.
If I left a ceiling bid, and the auction house knew my ceiling bid, and bid right up to it, that is not a "hidden reserve," in my opinion. That is a lot more unfair than the auction house placing a hidden bid on its own behalf without knowing the top of the extant bidding market.
Perhaps I do not mind "shilling" because I never disclose my "ceiling" to the house.