More eBay Fraud

[rdwyer]

https://www.thebalance.com/disney-bl...-bogus-4052382

Is this happening in our market?

http://www.ebay.com/itm/RARE-Walt-Di...sAAOSw2gxYwMYm
http://www.ebay.com/itm/RARE-Beauty-...gAAOSw2gxYvdW-
http://www.ebay.com/itm/RARE-Walt-Di...QAAOSw5cNYgZPC

[rdwyer]

Buyers & sellers working together to inflate prices big time. Seller never reports non payment, so item looks to be sold for that amount.

It reads:

Money laundering. This is a common practice on eBay. Someone selling contraband or illegal items will put up a listing on eBay, instruct the buyer to purchase it there, and their illegal transaction can happen undetected. Money is transferred and the authorities are none the wiser.

Buyer never pays. Only the seller knows if the buyer actually pays. A buyer with no intention of paying may fool around with a listing and bid it up to an astronomical price just for fun. This is also common on eBay - non paying bidders.

[Tripredacus]

Being a movie collector myself, I did some research into this particular area. This is different than the usual clickbait articles about things being valuable because of high Ebay BINs. The Beauty and the Beast Classics one is the one that had sold (marked sold, not just BIN) from multiple sellers for multi-thousand dollar prices. I believe that at least one was marked sold (not best offer accepted) prior to that TechCrunch article also. That is where this started.

It is unlike that Amazon auto-pricing thing that happened a few years ago which effected common items.

I do believe that price fixing is definately done using Ebay and Amazon by listing at high prices. However the only reason an item would be marked as sold in such a condition would be when the price fixer is about to sell the actual item. Then there is a selling history. But anyone operating in the secondary market for any type of item would know that the average price is what determines value, not the top price. This is mostly due to the fact that people DO overpay for items from time to time due to various reasons, and it is done in a way where there is no scam involved.

The most common trend I see on Ebay is that people will list BINs at double value and will accept a BO at 40-50%.

[bobbyw8469]

I doubt very seriously that VHS tape sold for over $10,000. Notice, no feedback got exchanged.

[rdwyer]

As it states in the article:

"Buyer never pays. Only the seller knows if the buyer actually pays. A buyer with no intention of paying may fool around with a listing and bid it up to an astronomical price just for fun. This is also common on eBay - non paying bidders."

Many sold at crazy prices. None were paid for. Seller never reports the non payment. This inflates the price big time.

[Leon]

I am sure fraud permeates all through the bay...They catch a few but it's like trying to plug a hole in a dam with a cork.

Originally Posted by rdwyer

https://www.thebalance.com/disney-bl...-bogus-4052382

Is this happening in our market?

http://www.ebay.com/itm/RARE-Walt-Di...sAAOSw2gxYwMYm
http://www.ebay.com/itm/RARE-Beauty-...gAAOSw2gxYvdW-
http://www.ebay.com/itm/RARE-Walt-Di...QAAOSw5cNYgZPC

[rdwyer]

What I don't understand is that Paypal is owned by eBay. All transactions are suppose to be paid via Paypal. So why is it that Paypal doesn't inform eBay of non payments? You would think they would want their commisions on sales of $40,000, etc.

[moeson]

PayPal and Ebay are separate publicly traded companies.

[ValKehl]

Per Wikipedia: "Established in 1998, PayPal had its IPO in 2002, and became a wholly owned subsidiary of eBay later that year. In 2014, PayPal moved $228 billion in 30 currencies across more than 190 nations, generating a total revenue of $7.9 billion (44% of eBay’s total profits). The same year, eBay announced plans to spin-off PayPal into an independent company by mid-2015 and this was completed on July 18, 2015."

[Stampsfan]

Originally Posted by moeson

PayPal and Ebay are separate publicly traded companies.

Doesn't mean they cannot sync their data and present a combined report.

[Leon]

I would be surprised if they don't share data currently.
There is no reason not to.

Originally Posted by Stampsfan

Doesn't mean they cannot sync their data and present a combined report.

[bnorth]

Originally Posted by bobbyw8469

I doubt very seriously that VHS tape sold for over $10,000. Notice, no feedback got exchanged.

Feedback is rarely exchanged anymore and I can't remember the last time I even looked at it.

Ebay is full of scammers manipulating prices. I remember when I was heavy into the 1989 Fleer Randy Johnson Marlboro error cards the BigBoyd accounts would shill the holy hell out of 1 and then use it for their next one listed as an example of how much they are selling for.