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ComicLink's next Featured Auction Has Started Posting Books
17 17

Started by LDarkseid1,

1,773 posts in this topic

tth2

tth2

Posted
Posted
On 9/1/2022 at 4:16 AM, Forbush-Man said:

All my bids were placed beautifully. Many people commented nice things about my bids.  No one has ever bid like me in, perhaps, the history of bidding.... :shiftyeyes:

Are you saying you're making auctions great? 

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tth2

tth2

Posted
Posted
On 9/1/2022 at 8:16 AM, Gotham Kid said:
On 9/1/2022 at 6:27 AM, Forbush-Man said:

I just looked at the history, the book went from $0 to $210,000.00 in under 1 hour.

and then not a single bid after for the next 10 days until the end. Yup, your typical auction bidding pattern. :shiftyeyes:

Wonder who won, left mouse or right mouse.

What good does it do for the owner of the book to have shilled it up if he ended up winning it?  Now he's out $21k for his own book.

If a legit bidder won it, well, how stupid is he to have put in a huge bid 10 day out?

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Gotham Kid

Gotham Kid

Posted
Posted (edited)
On 9/1/2022 at 7:21 AM, tth2 said:

What good does it do for the owner of the book to have shilled it up if he ended up winning it?  Now he's out $21k for his own book.

Owner won't pay anything to house if there's a non paying "bidder", especially if that "winning bidder" is the owner himself.

And its all about "apparent auction results". A couple auctions from now when a FF5 in that grade shows up again, any interested buyers in this round will likely bid harder next time thinking 210k might be the fmv (or more) pricing on that book. Goal accomplished.

Edited by Gotham Kid
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Aman619

Aman619

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Posted

my understanding is that if the owner shilled and ended up winning, He pays the winning bid, and as seller, Comiclink or whoever send him a check for 90% of the bid. So it costs him the 10% in fees. No way Josh lets him off the hook, unless some "other" arrangement is made.  right?  But in these cases - and especially here where there were only 2 bids, the loser would be the shiller, because the second bidder, the winner, didnt know what the existing high bid was, and only a stone cold player would shill on day one at MORE than 200K, a new record price.  He'd shill it up to a lower amount maybe, just trying to protect himself with a floor, like a reserve.  Isn't that how they play the game so they dont let their good stuff go at a ridiculous low number just cause no one showed up that day?

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tth2

tth2

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Posted
On 9/1/2022 at 2:46 PM, Gotham Kid said:
On 9/1/2022 at 2:21 PM, tth2 said:

What good does it do for the owner of the book to have shilled it up if he ended up winning it?  Now he's out $21k for his own book.

Owner won't pay anything to house if there's a non paying "bidder", especially if that "winning bidder" is the owner himself.

And its all about "apparent auction results". A couple auctions from now when a FF5 in that grade shows up again, any interested buyers in this round will likely bid harder next time thinking 210k might be the fmv (or more) pricing on that book. Goal accomplished.

I would think that it's in Comiclink's interest to police its registrants to avoid defaulting bidders, as it doesn't make money from a fake sale and, more importantly, loses money that it could've made from an actual sale.

In any event, given that Comiclink doesn't allow its results to be reported by GPA, it's probably the worst platform for anyone to try to use to establish a new benchmark.

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Forbush-Man

Forbush-Man

Posted
Posted (edited)
On 8/31/2022 at 11:21 PM, tth2 said:

What good does it do for the owner of the book to have shilled it up if he ended up winning it?  Now he's out $21k for his own book.

If a legit bidder won it, well, how stupid is he to have put in a huge bid 10 day out?

If it is a legit bidder, then Elon Musk just won a comic he really, really wanted.

Edited by Forbush-Man
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buttock

buttock

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Posted
On 8/31/2022 at 7:16 PM, Aman619 said:

yeah.  one guy drops his bomb at 200K as the max he will pay expecting to win at 150K+. Shows up as a current bid of $1.  Another guy also throws up a similar win at all costs bid that's higher than 200 bringing it to 210K.  First guy says  "whulp, Im done" and goes away figuring he wanted to pay UP to 200K, but not battle it out with someone far more eager.  So its probably true that the first guy is relieved, and that the winner is crying now, hoping he'd get outbid cause he didnt expect to win it at his max bid either. 

Its possible right?  or maybe just a shill bid reserve,  Who can find say?

Throwing down a stupid bid at the beginning can intimidate other bidders also.  If it shoots up to $210K right off the bat everyone hoping for $175K says, "I'm out".  

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jimbo_7071

jimbo_7071

Posted
Posted (edited)
On 9/1/2022 at 9:07 AM, tth2 said:

I would think that it's in Comiclink's interest to police its registrants to avoid defaulting bidders, as it doesn't make money from a fake sale and, more importantly, loses money that it could've made from an actual sale.

In any event, given that Comiclink doesn't allow its results to be reported by GPA, it's probably the worst platform for anyone to try to use to establish a new benchmark.

Establishing a new benchmark is one reason for shill bidding, but it isn't the only reason. Shill bidding can be used as a backdoor reserve. The owner creates a fake account for bidding, puts in a bid just below the "reserve," and then collects his inflated income if the book sells, and if the book doesn't sell, the fake account just ghosts the auction site (CLink or any other site), and the seller lists the book again in the next round.

The fact that CLink doesn't publish their auction archives is one reason why I question whether they are making any effort to police shill bidding. I have seen sales disappear from the site soon after the end of the auction, sometimes within days or even hours.

 

On 9/1/2022 at 2:46 AM, Gotham Kid said:

Owner won't pay anything to house if there's a non paying "bidder", especially if that "winning bidder" is the owner himself.

And its all about "apparent auction results". A couple auctions from now when a FF5 in that grade shows up again, any interested buyers in this round will likely bid harder next time thinking 210k might be the fmv (or more) pricing on that book. Goal accomplished.

That's why suspected cases of shill bidding need to be reported to law enforcement. Contrary to popular opinion, the FBI does take shill bidding seriously. It's a serious crime that is a form of fraud. The problem is, they can't do anything if nobody files a complaint. Even if it's difficult to prove with a particular book, they can look for patterns involving the same seller or the same platform. They know what they're doing. They know how to catch the bad guys even when those bad guys hide behind proxy servers, etc.

Edited by jimbo_7071
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Forbush-Man

Forbush-Man

Posted
Posted
On 9/1/2022 at 8:57 AM, LDarkseid1 said:

Starting to wonder if I should change the title of this thread to, "Let's find us a shill bidder". :roflmao:

Anyway, I have two more Strange Adventures issues ending tomorrow. Hoping I only get legit bidders and no nasty shillers! 

 

:whistle:

ExcellentMr.Burns.jpg

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Forbush-Man

Forbush-Man

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My Jumbo Comics (all 5) will start ending this evening around 7:40 P.M. Pacific Time.  Here's where they stand at this time:

#2 is in the lead at $1, 010  (raw graded 2.5)

# 4 (2.5) sitting at $950  

#7 (3.0) sitting at $950 (Gerber 10)

#5 (2.5) Larson Pedigree is sitting at $900 ((shrug))

#8 (2.5) sitting at $330 (:screwy:)

 

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LDarkseid1

LDarkseid1

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Posted
On 9/1/2022 at 10:41 AM, Forbush-Man said:

My Jumbo Comics (all 5) will start ending this evening around 7:40 P.M. Pacific Time.  Here's where they stand at this time:

#2 is in the lead at $1, 010  (raw graded 2.5)

# 4 (2.5) sitting at $950  

#7 (3.0) sitting at $950 (Gerber 10)

#5 (2.5) Larson Pedigree is sitting at $900 ((shrug))

#8 (2.5) sitting at $330 (:screwy:)

 

I"m sure you'll get some last second solid bidding in, but don't get your hopes up lol. The way my books have been, I've lost hope.

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