Bidding on your own auction 8 8

[shadroch]

On 6/28/2024 at 5:34 AM, Sigur Ros said:

Maybe.

With roulette, you bet with no chance of winning and lost.

With the auction, you bid what you were willing to pay, won, paid it and got the item.

Quite different.  The comparison was a bad one. 

..but you were violated.   Your right to win something at the absolutely lowest price possible was abused.  No matter what you paid, you need to recognize you were the victim here.

[comicginger1789]

On 6/27/2024 at 9:02 AM, ThothAmon said:

Must be a long list? I still buy Maple Syrup even though I know the Q Cartel controls the price. Point is, assume it’s always happening, set a budget and buy what gives you pleasure to own. Any profits in the future will be dumb luck. 

Good point. I dislike dry pancakes

[shadroch]

I like pie. 

[misterrmystery]

I am currently selling my collection through Heritage. Their program does not allow you to bid on your own items. If I'm following the auction that my items are in, when my item comes up, it says "your consignment" and disables bidding on that item. Of course that could be defeated if you have a friend bid up the item which would be dishonest. Some of my items have done beyond expectations and others disappointing but all in all, it evens out.

[techtre2003]

Scenario 1: You see a book on ebay you want that's at $40 so you put in a $100 max bid. You wind up winning the auction for $50.
Seller messages you and says, "hey, I really wanted $80 for that book so I'll need an extra $30 or I'll cancel the auction". 
 

Scenario 2: Seller has a book on ebay that he wants $80 out of. The bid is only at $50 with a couple of minutes left so he puts in a $75 shill bid and luckily there is a higher bidder so it gets bumped to $80 and ends there.

I don't think anyone here would say scenario 1 is ok but it sounds like scenario 2 would be acceptable to some. Same outcome on both, you were willing to pay up to $100 and only ended up paying $80. The difference, in my opinion, is that in scenario 1 the seller was being upfront with their shadiness; in scenario 2 the seller kept their shadiness hidden behind the scenes. 

 

[Lightning55]

Scenario 2: THEFT

Scenario 1: EXTORTION

[shadroch]

On 6/28/2024 at 11:57 AM, techtre2003 said:

Scenario 1: You see a book on ebay you want that's at $40 so you put in a $100 max bid. You wind up winning the auction for $50.
Seller messages you and says, "hey, I really wanted $80 for that book so I'll need an extra $30 or I'll cancel the auction". 
 

Scenario 2: Seller has a book on ebay that he wants $80 out of. The bid is only at $50 with a couple of minutes left so he puts in a $75 shill bid and luckily there is a higher bidder so it gets bumped to $80 and ends there.

I don't think anyone here would say scenario 1 is ok but it sounds like scenario 2 would be acceptable to some. Same outcome on both, you were willing to pay up to $100 and only ended up paying $80. The difference, in my opinion, is that in scenario 1 the seller was being upfront with their shadiness; in scenario 2 the seller kept their shadiness hidden behind the scenes. 

 

Everyone is harping on an eBay policy, as if that is the benchmark for all online auctions.  Proxibid is open only to accredited auctioneers and allows the auction house to bid for themselves or on behalf of others.

[Lightning55]

On 6/28/2024 at 3:25 PM, shadroch said:

Everyone is harping on an eBay policy, as if that is the benchmark for all online auctions.  Proxibid is open only to accredited auctioneers and allows the auction house to bid for themselves or on behalf of others.

That's because eBay is the 800 lb. gorilla in the room, and most people are examining this from that standpoint. 

If an auction platform allows you to bid on your own consignments, and discloses that, then as a bidder you have been forewarned. Fair enough, but I wouldn't bid on that platform, nor any similar platform. 

In general, the only people who think shilling the bid is ok are those who are doing the shilling, or don't care either way due to wealth, or are completely oblivious to the possibility. Which could be a lot of people. Caveat Emptor.

[Gaard]

I'm firmly in the 'bidding on your own auction is a richard move' camp.

[techtre2003]

On 6/28/2024 at 2:25 PM, shadroch said:

Everyone is harping on an eBay policy, as if that is the benchmark for all online auctions.  Proxibid is open only to accredited auctioneers and allows the auction house to bid for themselves or on behalf of others.

I just posted ebay at random. I feel the same about any auction format where the seller anonymously bids on their own auctions. It's not about policy for me; I just think it's super shady even when allowed. 

 

[shadroch]

On 6/28/2024 at 2:23 PM, techtre2003 said:

I just posted ebay at random. I feel the same about any auction format where the seller anonymously bids on their own auctions. It's not about policy for me; I just think it's super shady even when allowed. 

 

You are entitled to your opinion. I welcome anything that results in less competition. 

[MattTheDuck]

On 6/28/2024 at 5:48 PM, shadroch said:

You are entitled to your opinion. I welcome anything that results in less competition. 

Yes - less competition means lower prices for books. Its going on all over silver age marvels right now.

[Funnybooks]

[thehumantorch]

On 6/27/2024 at 12:21 PM, ThothAmon said:

From what I understand auction houses sometimes make guarantees to consignors to entice them to auction specific pieces. The auction house obviously believing the piece will sell for more than the guarantee. Is the ethics different if the auction house itself, and not the consignor/owner, bids the item up to an acceptable price, willing to add the piece to their own inventory if their guarantee was overly optimistic.   Ask yourself, how do the motivations of the other bidders really matter?

I think it's even worse.  The auction house can bid up the piece Knowing your reserve bid.  Talk about  the bidder.

[thehumantorch]

On 6/27/2024 at 2:28 PM, MAR1979 said:

Not Allegedly, Burkey admitted to it on these very forums!

Thus the phrase 'Burkey bidding'?

[ThothAmon]

On 6/28/2024 at 8:22 PM, thehumantorch said:

I think it's even worse.  The auction house can bid up the piece Knowing your reserve bid.  Talk about  the bidder.

Hosing?

[wiparker824]

On 6/28/2024 at 5:22 PM, thehumantorch said:

I think it's even worse.  The auction house can bid up the piece Knowing your reserve bid.  Talk about  the bidder.

Agreed. Especially since they’re all online these days and they can do it programmatically if they really wanted to. To the point where even a last second snipe wouldn’t be safe from instantly being bid to the max by a computer at the absolute last millisecond.