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#1
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Here is the hypothetical case:
I create an auction and partner with a shill bidder - Bill Someone legitimately bids $50 as their first bid, Bill then bids $100 and becomes high bidder at $51. He now retracts his bid and submits a new bid for 49. Question: Can this happen on eBay? Reason I ask - just sent a lot off to a consignment house and I was surprised a simple Google search returns so many hits pointing to posts which I would consider to be negative about the same consignment house - the common theme seems to be shill bids, bid retractions, etc. stuff which I knew could happen in theory, but never really bothered me because I'm always using my judgement, if I learn something new, then I apply it next time and take the bad experience as a lesson. (there will always be someone trying to scam and cheat - CNBC made a show about it). Thanks! P.S. I've never retracted a bid, but I would think your eBay rating would take a hit for that, no? |
#2
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He could retract the bid, but he wouldn't be able to enter the new bid of $49 because it would be less than the current bid of $50...
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#3
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Thanks D.P - I'm not so sure though....
If the first and only bid is $50 and the starting bid was .99 (99 cents), if there was only one bidder at 50, the auction shows 99 cents until someone "pushes up" that bid. So once the $100 is retracted, I would think the current leading bid goes back down to 99 cents. If the shill bidder now placed a bid at 49, the legitimate bidder would become the high bidder at 50. So the shill drove up the price, but avoided winning. Anyway, this is just my example - interested in hearing real stories on why people get concerned when they click on a bidder and it shows a high percentage of bids with same seller and a high number of retractions - just trying to work it out in my head. Thanks. |
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#5
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Thanks, wanted to make sure I had it straight. I appreciate it.
I know a lot of board members strongly hold the opposite view, but I find myself on the side of not expecting the consignor to police their auctions. I would think they have enough to deal with. eBay should be the ones doing the policing in my opinion. |
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#7
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