PWCC – Announcing Formal Policy Concerning eBay Bidder & Buyer Integrity

[ajjohnsonsoxfan]

Bravo! The bid retraction policy alone is a big move. Great to see pwcc and eBay realize and react to protect the integrity of the marketplace.

[Leon]

Very good. Thanks PWCC folks !! I wish all sellers would institute your policy.

[earlywynnfan]

Excellent! Quick question about non-paying bidders on ebay: does ebay really keep track? I had a couple of non-payers this summer, and both continued buying (and paying for!) items after I reported them.

[gregr2]

I like these policies and they will help the hobby, thanks! The bid retractions has to stop and this seems like a good step in that direction.

[Sean1125]

Originally Posted by earlywynnfan

Excellent! Quick question about non-paying bidders on ebay: does ebay really keep track? I had a couple of non-payers this summer, and both continued buying (and paying for!) items after I reported them.

eBay does keep track, but it is up to the seller to mark their restriction.

[Danny Smith]

This is great news. I will happily be bidding on PWCC auctions from now on.

[Stonepony]

Great effort! Thank you . Question... If bid retractions are NOT something the software can filter for...how are you going to monitor it yourselves?

[swarmee]

Originally Posted by Stonepony

Great effort! Thank you . Question... If bid retractions are NOT something the software can filter for...how are you going to monitor it yourselves?

Read the last paragraph. They are hoping/expecting us to do it for them.

[Brent Huigens]

Originally Posted by Stonepony

Great effort! Thank you . Question... If bid retractions are NOT something the software can filter for...how are you going to monitor it yourselves?

We get an email each time a bid is retracted on one of our auctions. Overall number of bid retractions is something we have to check for each for each user ID, so here is where we are soliciting help from the collecting community.

[ls7plus]

Originally Posted by Leon

Very good. Thanks PWCC folks !! I wish all sellers would institute your policy.

A big +1!

Thanks,

Larry

[Snapolit1]

The only thing that makes any sense is the idea posted in the string Peter cited: someone is trying to run the price up - but not win it - because they have the same card and are in effect trying to protect their investment buy making sure a card doesn't sell for too low a price. If I paid 160,000 for a Rose rookie card, I might be a little concerned if one was about to close at 90,000. So I pump the gas a little hoping to move up the price, not really hoping to be the buyer at the end of the day. Still think this is a dangerous strategy if you don't really want the cRd, particularly at AHs with a 10% step up on bids. Of course if you are a real dirt bag you just renege on the deal f you are accidentally the winner and don't pay at all. Or use 1 of your 25 retractions.

[Peter_Spaeth]

Originally Posted by Snapolit1

The only thing that makes any sense is the idea posted in the string Peter cited: someone is trying to run the price up - but not win it - because they have the same card and are in effect trying to protect their investment buy making sure a card doesn't sell for too low a price. If I paid 160,000 for a Rose rookie card, I might be a little concerned if one was about to close at 90,000. So I pump the gas a little hoping to move up the price, not really hoping to be the buyer at the end of the day. Still think this is a dangerous strategy if you don't really want the cRd, particularly at AHs with a 10% step up on bids. Of course if you are a real dirt bag you just renege on the deal f you are accidentally the winner and don't pay at all. Or use 1 of your 25 retractions.

There is no visibility into auctions that don't get paid for. There never has been in AHs (except when you see the same card available for less within a week LOL). On ebay, there isn't any now, particularly with the removal of IDs and the inability of a seller to leave negative feedback.

[Beastmode]

Originally Posted by Peter_Spaeth

There is no visibility into auctions that don't get paid for. There never has been in AHs (except when you see the same card available for less within a week LOL). On ebay, there isn't any now, particularly with the removal of IDs and the inability of a seller to leave negative feedback.

Which leads us to the real strategy of the buyers group. Pump up a bunch of high end vintage cards to 3-6X average price through string bidding or shilling, while never paying for the cards and retracting all those bids. Watch VCP swallow the data and recalculate inordinately high average prices; then sell your own supply that you bought last year at the new fictitious VCP average.


IMO, the real issue here is VCP needs to find a way to eliminate any auction that hasn't been completed (paid for). Start with ebay, then go from there to AH's. I know easier said than done, but maybe ebay and VCP can partner up.

[Snapolit1]

I am sure this has happened, I'd be surprised if it was an epidemic. Have to say the recent machinations around that Rose rookie card have been interesting to say the least.

In a few short months we've gone from a cabal of filthy rich hedge fund guys who don't care about how much money they spend on anything, to what sounds like a sophisticated group of criminals intent on rigging the auction market and third tracking party tracking services. Maybe a third theory will surface before long.

Wherever there is big money there is fraud. You can count on that.