Ron and Khyber Oser leave Legendary for Huggins

[steve_a]

I'll be counted among those who have no problem with shill bidding as long as the shiller can't see other bids. Shilling is essentially risking the buyers premium to set a hidden reserve price. That "reserve" set by the shiller is just as much a part of market value as what the buyer is willing to pay.

[Leon]

Originally Posted by steve_a

I'll be counted among those who have no problem with shill bidding as long as the shiller can't see other bids. Shilling is essentially risking the buyers premium to set a hidden reserve price. That "reserve" set by the shiller is just as much a part of market value as what the buyer is willing to pay.

I completely am against that. In my mind, If you want a reserve either say what it is or start your item at the least you will take. Be transparent, not fraudulent. You can actually sell, not lose money and still be honest!! I know, it's a novel idea. (and I am not saying I am without fault..but I am not at fault on these issues )

[steve_a]

That would be fine, but what AH lets you set a reserve besides ebay?

[Leon]

Originally Posted by steve_a

That would be fine, but what AH lets you set a reserve besides ebay?

All of them.....well, I take that back. There are a few that might not. But I guarantee if you call 5 big ones at least 3 of them will let you. We don't allow reserves in our auctions per se', but will let consignors start their items wherever they want to. At some point we might say we don't want a consignment, if we have to start it at retail. But most auctions will let you have some form of reserve (or higher opening bid) from my experiences.

[steve_a]

A minimum bid isn't the same as a reserve. I always assume low minimum bids were made to allow more participants into the extended bidding framework, not an expectation you could win at such a low price. I work in finance & deal with price discovery every day which likely influences my perspective but I see no difference between listing below where you are willing to sell and bidding below what you are willing to spend.

[1952boyntoncollector]

well if only worried about 6000 dolllar cards or more than takes out a huge chunck of the market..and again i woudl think people that bid $120,000 etc...are educated enough to pay what they think its worth and not be suckered by shilling...if a shiller weants to eat a $1500 buyers premium..on one ocassion..i dont think they will schill again and make it 3000.......either way i think this issue has been discussed...


Back to Legendary Auctin...would you be confortable sending them a check at this point?

[Peter_Spaeth]

If I had bid and won I would be uncomfortable NOT sending them a check.

[Leon]

Originally Posted by steve_a

A minimum bid isn't the same as a reserve. I always assume low minimum bids were made to allow more participants into the extended bidding framework, not an expectation you could win at such a low price. I work in finance & deal with price discovery every day which likely influences my perspective but I see no difference between listing below where you are willing to sell and bidding below what you are willing to spend.

A minimum bid absolutely can be used as a reserve. Try bidding $100 on a card that has a $500 opening bid (and is a 1k card in real value).

If you work in finance then you have to agree that if I start at $100 but say there is a $500 reserve, it is the same as opening at $500 with no reserve. The reason to open at $100, with a $500 reserve, is to attract "action" ie...bids. But I also don't like hidden reserves and if I ever did use one I would say what it is up front (or well before auction end). I understand there are different views but those are mine. I believe in openness and transparency in bidding.