Shill Bidding - Crooked Auction Houses and Shady Sellers 5 5

[ComicFill]

I assume everyone is looking to scam me. I place the highest bid I'd be happy to get the comic for. If I win it for that, I'm happy. If I win it for significantly less than that I'm really happy.

However, I have noticed on ebay over the past couple years that I win auctions for significantly less than my max bid a lot less times than I used to. When it happens I make note of the seller because I assume they are honest at that point.

One thing that occurred to me is that with so many resources out there showing FMV and history of sales a lot more people are probably shooting for about the same target price I am. So it isn't necessarily a scam to have someone's similar bid bump the sale up to my max bid.

[MAR1979]

On 3/13/2022 at 8:37 AM, ComicFill said:

One thing that occurred to me is that with so many resources out there showing FMV and history of sales a lot more people are probably shooting for about the same target price I am. So it isn't necessarily a scam to have someone's similar bid bump the sale up to my max bid.

The Auction Houses know exactly that and they how difficult it is to make a case against them as a result.

[Galen130]

Auctions don't happen often on these boards, but I've done a few myself...through my sales thread.  Difficult to shill...I'm not a creep anyway.  A bit more difficult to keep the 'kids' in line with memes and goofiness, but that's part of the fun.   I just set a couple of rules similar to eBay, i.e. starting bid, bid increment size, even a BIN for the item.  I have to monitor it though, so I need to dedicate time to watch it because I don't have the auction run for more than a couple days.  No shenanigans here...I don't think the moderators would allow it, so there's some protection....especially for an honest seller. 

I only say this because I mentioned earlier in the thread that I don't do auctions anymore.  I don't bid on auctions anymore/anywhere...I'm just not interested in the games other sites play.  

[Gregd]

On 3/5/2022 at 10:03 PM, Bird said:

this

I was hunting for a good deal on ST110 about two years ago. I ended up getting one on HA for a pretty good deal. I typically do not bid live on ALL items that I bid on but I do wait until live auction has started to place proxy bids, mostly so that I know where to focus my money. Plus it makes it tougher for that guy answering the phones to track all the sudden activity that late in the game.

Won 3 great slabbed Vampi mags in 1 auction with HA just a few weeks ago. Did the last second bidding and was super happy. Never bought anything from HA before but it went great 🤷🏻

[EMazman]

On 3/3/2022 at 2:21 AM, Frank Castle 74 said:

Is it just me or does it seem like every time you're after a serious high-grade key it either goes for much less when you exercise restraint and way over fair market value when you decide to "go for it?" I've bid in three separate auctions on a New Gods #1 in 9.8 on Comic Link; the first time the book legitimately escaped me (I forgot to set a reminder on my phone to watch the auction); the second time (6 months later) I bid on another copy, I was suddenly and repeatedly logged out within seconds of the auction closing (I was attempting to snipe the book and the website repeatedly logged me out so I lost); the third and final time I decided to bid on this book was 8 months later. This time I decided to just submit a generous maximum bid 15 minutes before the auction ended; interestingly, 10 seconds before the auction closed, the item was bid up exactly below my maximum possible bid---coincidence? Yeah, right! Did you know that my maximum bid was $1000 over the fair market value? Comic Link used to be a legitimate auction website, but it seems like the current market is making everyone greedy.

 

A similar situation happened to me on eBay. This time I was going after a Doctor Strange 1 9.8 that was signed by Stan Lee. I decided to snipe the book at the last few seconds of the auction; I was seemingly legitimately outbid. The high bidder had won by $400--significantly higher than fair market value at the time (this wasn't unusual, the market was on fire and Stan Lee's signatures are gold). Here comes the suspicious part: I received a notification about 5 minutes after the auction ended that I was the highest bidder; this was absolutely puzzling. Apparently, the winning bidder had retracted his winning bid and the item naturally fell to the next buyer--me. So when I attempted to check out, the item was no longer available to purchase and had been removed from eBay. The following week, I saw the exact same item (same serial number and signature) on Heritage Auctions; I decided to just sit back and watch the action unfold (something seemed fishy). The book sold well below fair market value, and I felt as though I lost a golden opportunity for a great deal. Only something else, very peculiar, happened again; the same exact book--once again--had appeared a third time on Comic Connect--only two days later; once again, I monitored the auction, waited for the last few seconds, and submitted my maximum bid--which happened to be just above the lowest bid on the item. I had set a record for this item's price. Just another coincidence, right? 

 

One time I called Comic Connect and asked what the shipping status was on an item I had bought; the guy said "hold on, you're messing up my concentration, this auction is about to end and I have to watch it." I asked, "watch what?" To which he responded, "look I'm in charge of hundreds of thousands of dollars and can't be bothered right now." What exactly was this guy watching? Did he need to make sure he bid up an item just below the highest bidders' maximum bid? These companies are seriously sketchy, and there is a huge part of me that feels they are all part of a network that monopolizes and manipulates the comic book market. Am I the only one flabbergasted? Has anyone else had similar experiences?  

Just happened to me I think on CC.  There were several books I was bidding on but only one of serious interest enough to keep going.  I wound up winning the book but only after it suddenly shot up way more than what it should have gone to.  I paid anyways because I likely won't see it again and it's for my PC.  Then I noticed another book in the same run "Mangus Robot Fighter #25" was in the same auction the price suddenly shot up and it sold for $550 + buyer premium.  What's super odd about that is I had and still have the same exact book at the same exact grade 9.6 CGC (with a brand new slab) that's being promoted and sitting on Ebay for over $100 less.  Supposedly on CC there were over 10 bidders bidding this up way over market value while mine sits on Ebay. I don't believe that for a second it's a very niche book to collect and anyone looking for it will also be searching ebay...and again mine is being promoted.   I've bid on HA many times and to me everything has seemed legit on there so far and inline with what I expected.  

[Dr. Balls]

On 3/16/2022 at 5:14 PM, Galen130 said:

I don't bid on auctions anymore/anywhere...I'm just not interested in the games other sites play.  

I feel the same way - I don't bid until the last few seconds, to at least help protect me from shill bidding. Sellers may have friends who have bid up the auction before the close, and you can't really fight against that - but I think I keep the bid creep at bay when you do it at the very end.

Used to really like CC, but the 3 minute extended bidding thing really turned me off from them. Heritage can be dangerous with their insanely high BP. I've been caught more than a time or two in the heat of the moment thinking I got a deal because I wasn't looking at the BP. CLink is still my favorite. Basic and straight-forward.