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

[TSwift25]

I find "raising" the bid to the level necessary to make the next bid hit reserve (when there's already bidding activity) to be problematic from a marketplace's point of view. Doing that creates an appearance (albeit faulty) that there are ready, willing, and able buyers at that "threshold" price-point, which is clearly not the case. We talk all the time of "bubble" well, practices like this (artificial creation of a market and/or price) sure make that bubble form.

[VintageComics]

It's actually an interesting concept.

 

It's like introducing a "Buy It Now" feature into an auction. It amalgamates the two different concepts into one.

 

 

 

 

[FFB]

I find "raising" the bid to the level necessary to make the next bid hit reserve (when there's already bidding activity) to be problematic from a marketplace's point of view. Doing that creates an appearance (albeit faulty) that there are ready, willing, and able buyers at that "threshold" price-point, which is clearly not the case. We talk all the time of "bubble" well, practices like this (artificial creation of a market and/or price) sure make that bubble form.

 

The whole point of the asterisk is to make sure people don't think there is market activity at the level that the underbid suggests. It's no more misleading than a million super low "did not meet reserve" auction results where the reserves kept bidders away and the artificially low final bid made it look like there were fewer interested parties than there actually were.

[Transplant]

I find "raising" the bid to the level necessary to make the next bid hit reserve (when there's already bidding activity) to be problematic from a marketplace's point of view. Doing that creates an appearance (albeit faulty) that there are ready, willing, and able buyers at that "threshold" price-point, which is clearly not the case. We talk all the time of "bubble" well, practices like this (artificial creation of a market and/or price) sure make that bubble form.

 

The whole point of the asterisk is to make sure people don't think there is market activity at the level that the underbid suggests. It's no more misleading than a million super low "did not meet reserve" auction results where the reserves kept bidders away and the artificially low final bid made it look like there were fewer interested parties than there actually were.

. I find it more comparable to having a book at a starting price in an auction and getting no bids.

[COI]

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?

.

 

I didn't know this was a "thing" on either site. Very sketchy, even if it is explained somewhere on both sites.

 

 

[COI]

I find "raising" the bid to the level necessary to make the next bid hit reserve (when there's already bidding activity) to be problematic from a marketplace's point of view. Doing that creates an appearance (albeit faulty) that there are ready, willing, and able buyers at that "threshold" price-point, which is clearly not the case. We talk all the time of "bubble" well, practices like this (artificial creation of a market and/or price) sure make that bubble form.

 

The whole point of the asterisk is to make sure people don't think there is market activity at the level that the underbid suggests. It's no more misleading than a million super low "did not meet reserve" auction results where the reserves kept bidders away and the artificially low final bid made it look like there were fewer interested parties than there actually were.

 

Instead of an asterisk, why not just put down what the reserve is right from the get-go? Is there really a good reason for adding this extra layer of obfuscation, other than the hopes that the meaning of the asterisk may elude some potential bidders?

[Bomber-Bob]

Wow. This thread has really been informative. I had no idea of these auction 'features'.

As a buyer, I don't even bother with a Reserve auction. I have to admit, the asterisk bid

is an interesting idea but does anyone actually think it will accomplish a sale ?

Uber priced bids usually occur as the result of two or more competing bidders temporarily losing their sanity. I don't see how this will occur with a Reserve and an asterisk.

[Mephisto]

Walking Dead #1 CGC 9.9 was listed in the current CLink auction. It was listed with an undisclosed reserve. About a week ago it was at $4000 or so. Then it jumped to $9700, but still did not meet reserve. Coincidentally, the next bid would take it to $9800, the same price as the last copy that sold (11/2012). That last bid never came and the book ended without meeting the reserve.

 

It disappeared from the auction listing this morning and is, again coincidentally, listed for sale at $9800 on the very same Clink site. Shilling? Oh yeah. Effective? Not in the least. Why bid it all the way up to the reserve? If you want to shill just to create momentum, seems to me you dissuade buyers because they think they're in a bidding war. But what do I know?

 

Walking Dead #1 9.9 For Sale Listing

 

...I thought Comiclink will automatically bump a piece to one bid below reserve in the last few days...

[Mephisto]

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.

 

I could be wrong but I believe that it's actually in the auction listing details that they will move it to the exchange if it didn't meet reserve.

 

Check your auction listing confirmation email. Mine had that statement in there.

 

 

They usually do with artwork.

[Tony S]

This has been an interesting, informative thread. I guess I need to pay more attention to anything with a * next to it.

[sterlingcomics]

Walking Dead #1 CGC 9.9 was listed in the current CLink auction. It was listed with an undisclosed reserve. About a week ago it was at $4000 or so. Then it jumped to $9700, but still did not meet reserve. Coincidentally, the next bid would take it to $9800, the same price as the last copy that sold (11/2012). That last bid never came and the book ended without meeting the reserve.

 

It disappeared from the auction listing this morning and is, again coincidentally, listed for sale at $9800 on the very same Clink site. Shilling? Oh yeah. Effective? Not in the least. Why bid it all the way up to the reserve? If you want to shill just to create momentum, seems to me you dissuade buyers because they think they're in a bidding war. But what do I know?

 

Walking Dead #1 9.9 For Sale Listing

 

I'd much rather have a HOS #92 in 9.8 over this book, but I clearly have bad taste in books.

[Mark 1]

Selling that book on CLink was the first mistake.

[sterlingcomics]

Selling that book on CLink was the first mistake.

Why's that?

[Doc Joe]

Clink won't allow books to have a reserve if they are likely to have a value less than 3k

 

Having the bid go to just below reserve certainly explains the price on some books in the last auction.

 

The automatic listing in the exchange after the auction (if they have not sold) worked out well for me in the past - book ended about 4 k below my reserve, got listed on the exchange and sold with a bin at reserve price.

 

But if that bump was true of art , then for sure I got misled and bid on (and won) a piece that was obviously just below reserve, I sheepishly did the next single bid, ended up winning it. I genuinely thought someone else was bidding just below me. I overpaid but it does happen to be a piece I really love, was thinking about it the other day, still very happy to own it.

 

However it should be clear as day - a nice sunny bright day - when you place that bid - YOU ARE ABOUT TO PASS THE RESERVE SET FOR THE BOOK

 

Will put this in the clink suggestion box.

 

 

[Gotham Kid]

 

I'd much rather have a HOS #92 in 9.8 over this book, but I clearly have bad taste in books.

 

No, you don't.

[Mark 1]

Selling that book on CLink was the first mistake.

Why's that?

 

Because Clink is mostly a SA comic site. I don't think many modern collectors are checking out that auction.

 

For modern comics like WD, eBay is the best bet or even selling it on this site.

 

 

[budsbundy]

I think the reason they do this is to attract more bidders to an auction.

Like many people have said already, they don't like reserve auctions,and won't bid in them.

If they do it this way, they can get more bidders, who may not be aware of the reserve, and in the heat of the auction, one of them may go ahead and kick it up the next level to hit the reserve price once they become aware of it.

 

I personally like auctions with a high(but fair) starting price.(a price you would be ok paying in a normal low start price auction if it finished there)

They tend to not have much interest, and can usually be picked off at the last second with a snipe bid.

A high start price weeds out all the jackazzs who thought they were going to get the $600 book for $50

 

[skypinkblu]

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.

 

I rarely bid on a book with a reserve, but on eBay the whole point of a reserve was for the seller to be able to figure out the TRUE market value and decide if they were willing to sell at that price.

 

 

 

What CLINK is doing, sounds vaguely misleading, it would make me think, looking at the "bid", that there was other interest at that price. I've kind of stopped bidding on their site because of their payment requirements...they don't take Amex, or PP and when you send a check it goes to some drop box in Chicago (and they are supposed to be in New England)...this is just another thing that is going to turn me off.

 

[Doc Joe]

The check to Chicago is fine and a good business practice to separate checks from your staff

 

Done it plenty of times, no problems

[TSwift25]

I find "raising" the bid to the level necessary to make the next bid hit reserve (when there's already bidding activity) to be problematic from a marketplace's point of view. Doing that creates an appearance (albeit faulty) that there are ready, willing, and able buyers at that "threshold" price-point, which is clearly not the case. We talk all the time of "bubble" well, practices like this (artificial creation of a market and/or price) sure make that bubble form.

 

The whole point of the asterisk is to make sure people don't think there is market activity at the level that the underbid suggests. It's no more misleading than a million super low "did not meet reserve" auction results where the reserves kept bidders away and the artificially low final bid made it look like there were fewer interested parties than there actually were.

 

Instead of an asterisk, why not just put down what the reserve is right from the get-go? Is there really a good reason for adding this extra layer of obfuscation, other than the hopes that the meaning of the asterisk may elude some potential bidders?

 

Completely agree. (thumbs u

 

Anytime something can be/must be explained with an asterisk, you already have a problem. A little more transparency can go a very long way, especially as the comic "market" is trying (and arguably succeeding) to become a viable alternative investment market.