SSSSShilling up your books at auction houses

[EastCoastExchange-migratio]

question: do they prevent you from bidding up your own books? Everyone asks do actioneers shill bid on their own auctions? My question is do customers do it themselves and auction houses neither care nor report it? Conspiracies such as this is why I am slowly getting out of auctions. There are those you can trust and those you cannot.

 

carolinacomics

[FatComicMafia]

You can bid up your own books. You ever wonder why certain books are auctioned off three times in a year via one auction house, despite reserve met

[thehumantorch]

That is so wrong.

[500Club]

Ironically, the only good thing about the Heritage vig is it scares off the heavy shilling.

 

Win your own book.... pay 20% sellers fee and 20% buyers fee.

[FatComicMafia]

You think ?

[Pitboss]

Yes.

[FatComicMafia]

I think not. it doesn't stop it. those percentages don't always apply.

 

[PokerKid]

I think not. it doesn't stop it. those percentages don't always apply.

 

 

How does the winner avoid those fees?

[Flaming_Telepath]

I think not. it doesn't stop it. those percentages don't always apply.

 

 

How does the winner avoid those fees?

 

Well, for a start, if you've consigned enough tasty stuff through Heritage, you can negotiate a drop in sellers' premium. I know of some boarders who have managed to get Heritage to totally wipe the consignment fees...they've been happy to simply arse-rape charge the buyer. (thumbs u

[goldust40]

I think not. it doesn't stop it. those percentages don't always apply.

 

 

How does the winner avoid those fees?

 

Well, for a start, if you've consigned enough tasty stuff through Heritage, you can negotiate a drop in sellers' premium. I know of some boarders who have managed to get Heritage to totally wipe the consignment fees...they've been happy to simply arse-rape charge the buyer. (thumbs u

 

But if you're the consigner / buyer, don't you still have to pay the buyer's premium?

[Flaming_Telepath]

I think not. it doesn't stop it. those percentages don't always apply.

 

 

How does the winner avoid those fees?

 

Well, for a start, if you've consigned enough tasty stuff through Heritage, you can negotiate a drop in sellers' premium. I know of some boarders who have managed to get Heritage to totally wipe the consignment fees...they've been happy to simply arse-rape charge the buyer. (thumbs u

 

But if you're the consigner / buyer, don't you still have to pay the buyer's premium?

 

As far as I'm aware, yes.

 

Not sure of the risk/reward ratios here, but if you're sensible about it and don't lay down insane bids, I reckon you'll come out ahead. (thumbs u

[brasseye]

I think not. it doesn't stop it. those percentages don't always apply.

 

 

How does the winner avoid those fees?

 

Well, for a start, if you've consigned enough tasty stuff through Heritage, you can negotiate a drop in sellers' premium. I know of some boarders who have managed to get Heritage to totally wipe the consignment fees...they've been happy to simply arse-rape charge the buyer. (thumbs u

 

But if you're the consigner / buyer, don't you still have to pay the buyer's premium?

 

As far as I'm aware, yes.

 

Not sure of the risk/reward ratios here, but if you're sensible about it and don't lay down insane bids, I reckon you'll come out ahead. (thumbs u

 

But on the likes of Clink and Pedigree your down to 10%, so the risks are lower still... I can'rt see Josh rebuking the shillers bid...he'll get his cut regardless.

[MR.COMICBOOK]

You can bid up your own books. You ever wonder why certain books are auctioned off three times in a year via one auction house, despite reserve met

thanks.you learn something new everday on the CGC boards. looks like thiers a lot of crookiness going on out there. so now I found out about shill bidding being allowed and comics being restored. didn`t know about this stuff a year ago. I wonder how many people get scammed?

[Dale Roberts]

You can bid up your own books. You ever wonder why certain books are auctioned off three times in a year via one auction house, despite reserve met

 

Actually that would depend upon the auction house. You CANNOT bid on your own books on comiclink.

[Flaming_Telepath]

You can bid up your own books. You ever wonder why certain books are auctioned off three times in a year via one auction house, despite reserve met

 

Actually that would depend upon the auction house. You CANNOT bid on your own books on comiclink.

 

How could they possibly stop you?

 

Different e-mail addy, different details...easy-peesy, I would think.

[Flaming_Telepath]

You can bid up your own books. You ever wonder why certain books are auctioned off three times in a year via one auction house, despite reserve met

thanks.you learn something new everday on the CGC boards. looks like thiers a lot of crookiness going on out there. so now I found out about shill bidding being allowed and comics being restored. didn`t know about this stuff a year ago. I wonder how many people get scammed?

 

And you do know that Heritage employees bid on their own auction too, don't you?

[tth2]

I think not. it doesn't stop it. those percentages don't always apply.

 

 

How does the winner avoid those fees?

 

Well, for a start, if you've consigned enough tasty stuff through Heritage, you can negotiate a drop in sellers' premium. I know of some boarders who have managed to get Heritage to totally wipe the consignment fees...they've been happy to simply arse-rape charge the buyer. (thumbs u

The buyer`s premium is a misnomer. The person who really pays it is the consigner, because it`s money from the final all-in sale price that he never gets. From the buyer`s perspective, the cash out of his wallet is the same whether 19.5% or 75% of it goes to Heritage.

 

So yes, even if a consigner negotiates the seller`s commission down to 0%, I would say the buyer`s commission of 19.5% is a huge deterrent to shill bidding. Think about it, if you were to over-shill and end up winning the book yourself, meaning you`d just paid more than anyone else was willing to pay, you`d basically be paying 20% for the privilege of continuing to own the same book you always owned. Then when you want to sell it next time, you`ve got to sell it for 20% more just to get back to where you were! Considering that no one was willing to pay the shiller`s minimum in the first place, why would people suddenly be leaping to pay 20% more the next time?

 

Nick, maybe you can figure out the economics of how to make that work, because I certainly can`t.

[tth2]

Not sure of the risk/reward ratios here, but if you're sensible about it and don't lay down insane bids, I reckon you'll come out ahead. (thumbs u

It doesn`t matter how insane the shiller`s bid is, his winning price will be the increment above the underbidder. And the shiller will have to pay that full price (inclusive of BP) for the book, and meanwhile when Heritage pays the sales proceeds to him, it will be less the BP. Seriously, I can`t figure out how to get this to work.

[tth2]

You can bid up your own books. You ever wonder why certain books are auctioned off three times in a year via one auction house, despite reserve met

 

Actually that would depend upon the auction house. You CANNOT bid on your own books on comiclink.

 

How could they possibly stop you?

 

Different e-mail addy, different details...easy-peesy, I would think.

Agreed. The mechanics of shilling would be quite easy, I think. The shiller doesn`t even have to be you, you could get a friend or family member to do it.

 

But to sound like a broken record, the mechanics of shilling are easy, the economics, when the house`s cut is 10-20%, are not.

[Scrooge]

Not sure of the risk/reward ratios here, but if you're sensible about it and don't lay down insane bids, I reckon you'll come out ahead. (thumbs u

It doesn`t matter how insane the shiller`s bid is, his winning price will be the increment above the underbidder. And the shiller will have to pay that full price (inclusive of BP) for the book, and meanwhile when Heritage pays the sales proceeds to him, it will be less the BP. Seriously, I can`t figure out how to get this to work.

 

Tim, thanks for dis-spelling (again) the myth about the BP.

 

Also, why shill-bid in these cases when imposing a simple Reserve would serve a similar purpose? Supposedly, you put in shill bids so that the auction doesn't end up too low. Well, the Reserve would allow for that in a much simpler manner

 

(Granted: Reserve do tend to lower the amount of bids placed ... but that's too convoluted for your average consigner so let's ignore that for now).