WD #1 9.9. Shilling in Clink Auction? LOL, yeah.

[Transplant]

There was no shilling.

 

Like Heritage, Comiclink now take the books to one increment below their reserves a week before the auction end.

 

Wouldn't doing that be manipulating the market?

I think some people call it shilling.

 

I think it is slightly different than shilling, if, that is their policy. Still doesn't make it right, just a bit different. Shilling involves bidding it up, in increments. CL isn't really doing that. They are moving it up to just below the reserve in one fell swoop. I guess it is two sides of the same coin.

 

Yeah, im a little torn on this one but definitely not thrilled with that practice

 

I'm even less thrilled with them listing this book (which is mine) in the For Sale area after the auction close without my permission.

Best of luck with the sale.

[comixcroz]

A few days before the Items that have an unmet reserve end, the reserve is exposed to bidders so that they know what bid is necessary to win the item. CGC comic books don't often have reserves so that's probably why most of you haven't noticed this before. It's been common in the art sessions for the past several Featured Auctions. There is an explanation of it on the bid page with an asterisk next to the current amount. Here is an example:

 

http://www.comiclink.com/auctions/item.asp?back=%2FAuctions%2Fdefault%2Easp%3FFocused%3D1%23Item_960163&id=960163

[Transplant]

Whether the buyer did it or the auction house did, it's shilling in my book. Less egregious because there was a reserve in place already. But either make the first bid a winning bid or don't do it and let it finish well below the reserve if that happens.

 

It's psychological and meant to trick prospective buyers into thinking that there is a bidding war going on.

[comixcroz]

Here is the explanation when you click "What is the meaning of the asterisk?"

 

What is the meaning of an asterisk to the left of a dollar sign during an active auction?

 

An asterisk will be displayed next to the price of a given auction lot within 5 days of the end date/time of an auction lot, if the current bid has not yet reached or exceeded the seller's reserve price. The asterisk next to the "Current Bid" price signifies that the price displayed is no longer an actual bid, but instead was raised automatically to one bid price beneath the seller's reserve amount. The asterisk next to the "Minimum Bid" price signifies that the next bid will hit the seller's reserve for the item.

[Transplant]

Yep. I read it. I wasn't aware of it in advance. But I don't think it really changes my analysis. It's sketchy. Just not sketchy by the seller, so I apologize for any inference I may have created that this was shilling by the seller.

[whisp]

Personally and I think its obvious its because comiclink wants their commission that they do this.

 

 

Also, think regardless of auction house or wherever if you want to set a reserve the auction should just be set at that price to start and if people bid over then go nuts. This way you don't waste a bunch of peoples time.

 

[musicmeta]

A few days before the Items that have an unmet reserve end, the reserve is exposed to bidders so that they know what bid is necessary to win the item. CGC comic books don't often have reserves so that's probably why most of you haven't noticed this before. It's been common in the art sessions for the past several Featured Auctions. There is an explanation of it on the bid page with an asterisk next to the current amount. Here is an example:

 

http://www.comiclink.com/auctions/item.asp?back=%2FAuctions%2Fdefault%2Easp%3FFocused%3D1%23Item_960163&id=960163

 

I didn't know you could list a CGC book in a CL auction and put a reserve on it. I thought all CGC books started out at $1.00 with no reserve. Learn something new everyday.

[VintageComics]

I know Heritage reveals the reserve price of an auction just before the last day. Do they also raise the bid just below the reserve?

[greggy]

F off

[CR]

If it's okay for these big auction houses to artificially raise the price right below the reserve, then it must be okay for me to do it on my eBay auctions too.

 

 

[comixcroz]

I know Heritage reveals the reserve price of an auction just before the last day. Do they also raise the bid just below the reserve?

Yes, Heritage does it the same way as well. The intent is at a point to let prospective bidders know what it would take to have a shot at the item. This is a relatively new feature for ComicLink and it arose out of bidder and seller feedback.

[FFB]

There was no shilling.

 

Like Heritage, Comiclink now take the books to one increment below their reserves a week before the auction end.

 

Wouldn't doing that be manipulating the market?

I think some people call it shilling.

 

That's my thought exactly, unless that is disclosed outright to a potential bidder that the existing high bid does not have an actual bidder behind it, in which case I wouldn't have an issue with it.

[FFB]

Here is the explanation when you click "What is the meaning of the asterisk?"

 

What is the meaning of an asterisk to the left of a dollar sign during an active auction?

 

An asterisk will be displayed next to the price of a given auction lot within 5 days of the end date/time of an auction lot, if the current bid has not yet reached or exceeded the seller's reserve price. The asterisk next to the "Current Bid" price signifies that the price displayed is no longer an actual bid, but instead was raised automatically to one bid price beneath the seller's reserve amount. The asterisk next to the "Minimum Bid" price signifies that the next bid will hit the seller's reserve for the item.

 

See, now if this is how it is disclosed, I am ok with it. It's good for the seller who wants to see if there is a bidder who will hit the reserve, and it shows a potential bidder that the underbid isn't backed by a real bidder. It's a bit unconventional, but it's not misleading.

[VintageComics]

F off

 

[VintageComics]

I know Heritage reveals the reserve price of an auction just before the last day. Do they also raise the bid just below the reserve?

Yes, Heritage does it the same way as well. The intent is at a point to let prospective bidders know what it would take to have a shot at the item. This is a relatively new feature for ComicLink and it arose out of bidder and seller feedback.

 

It probably also arose from the example that competitors doing it.

 

 

[r100comics]

Yep. I read it. I wasn't aware of it in advance. But I don't think it really changes my analysis. It's sketchy. Just not sketchy by the seller, so I apologize for any inference I may have created that this was shilling by the seller.

 

No problem. (thumbs u

 

 

 

 

[ThoseBackPages]

yet another reason not to shop there

[budsbundy]

I don't understand what people don't like about this.

You were never going to get it for less then the reserve in the first place, so what's the problem?

 

I think it's nice to know what the reserve is before the auction ends, unlike on Ebay, where it ends, and you're left wondering what they really wanted for it, and if you were even close.

[ThoseBackPages]

on eBay, just dont bother bidding on reserve listings

[VintageComics]

on eBay, just dont bother bidding on reserve listings

 

That's not really the point though.

 

On eBay, you never know what the reserve was. This way you do and can choose to bid based on knowing it rather than not knowing it.