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 Replies: 35 / Views: 4,501 |
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Bedrock of the Community
United States
20753 Posts |
Met an old friend some time ago from school. He is working for an auction house. His job is to sit in the audiance and bid on items that are not going well. He is not the only one either. IF he or one of the others wins, that item just goes back up for auction some other day. If you go to auctions look for people that bid on almost everything. My son sells on ebay all the time. He has many friends from College that place bids on items just to make them go up in price. If they win, no big thing, they just wait and do it again some other day. As he said many kids in schools do this all the time. With ebay you may well be bidding against an entire class of kids in grade school. |
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Pillar of the Community
United States
1372 Posts |
Yep ... Bid rigging is a federal offense, but it goes on all the time. I never attend local estate auctions either. It's a sleazy business.
Chance
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Valued Member
 United States
404 Posts |
Just going by what justcarl said is exactly why you need to set your limit(which should include fees and taxes) and stick to it.
Bid with your head not over it!
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Pillar of the Community
United States
3540 Posts |
Attended an estate auction this past weekend. Two sale rings going on at the same time. Everything from the shop, house, vehicles, farm equipment, dishes...you name it.
I was interested in a mid sized safe. The first safe to sell was a 22 space Liberty gun safe - sold for $850 + 5% sales tax. About $300 over new. I did purchase the smaller safe for 237.50 (including tax). By chance, only one other person out of 250 were interested.
Best advice at any auction, set a price limit and stick with it.
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Valued Member
United States
421 Posts |
When I go to estate auctions I set my limit usually by bring the cash I want to spend. So I have to bid wisely. I also study if the auction has items listed to see what I want to go after. Sometimes it is a turn and burn. Buy junk silver and sell that day or buy and hold. If I am going for gold/silver jewelry mostly in the form of jewelry boxes ( mostly costume jewelry) but I do get a nice piece now and then. I take it to my local gold/silver buyer, have the stone removed and keep that and dump the rest of the ring or what ever. Some may say this is not cool, but it can be fast money when your in tough times.
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Pillar of the Community
1028 Posts |
Quote:Sounds to me like you're "browsing" ebay for coins. That's not exactly searching. Most of the deals I find, are not listed where they should be listed. The category I search is " US coins". I don't browse by sub category at all. That's true, I do browse, and not search. If a coin is listed where nobody who wants it then it might go for very low in auction style or BIN. Maybe I'll try your method. Quote:My son sells on ebay all the time. He has many friends from College that place bids on items just to make them go up in price. If they win, no big thing, they just wait and do it again some other day. As he said many kids in schools do this all the time. With ebay you may well be bidding against an entire class of kids in grade school. I don't know about grade school, but I've seen this happen many times before. This one seller had many many BU silver dimes and I noticed the same buyer was bidding the same amount on all of them on many of the same dates. Same buyer was back again next day and day after. The buyer had already pushed me up on two transactions. I got him back a little bit. I waited until his bids came in and I bid the exact same amount on every single auction so he was still the highest bidder and the next increment allowed was a little high. Some of them were still bought by others, but the "fake" buyer won many auctions that day and the seller was stuck with the seller fees. |
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New Member
34 Posts |
I was watching a nice 1/2 cent that I liked.Under a minute to go I wait until about 5 to 8 seconds left hit comfrim and lost out by 50 cents.Boy did I give the monitor hell
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New Member
34 Posts |
Does anyone believe that bid rigging isn't going on at ebay. |
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Pillar of the Community
1028 Posts |
Quote:Does anyone believe that bid rigging isn't going on at ebay. Nope. I think there is an important distinction with sellers, though. I believe most do not have any sort of bid rigging going on at all. However, the ones that do, probably do it a lot and especially any time they need an item to go higher. I have multiple accounts and have friends with accounts. It would be pretty easy for me to do it. I never have. On most of my auctions I have the starting bid be at a high enough level so that I wouldn't be upset if it only sold for that. I don't sell half my auctions, but I never let anyone hit a homerun off me either. Some of my items that are worth very little and I start at .99 I don't really care enough to want to rig them. The buyers that start all their auctions low are frequently guilty. All that bidding in the final 5 seconds for items currently well below their value. Some of that genuinely is other buyers trying to get a steal of it, but some of it is alternate account bidding protecting (although against ebay rules) against losses. |
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New Member
34 Posts |
hesgut this is HUMOR. Sellers say no way us buyers see it diferently :O)
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Pillar of the Community
1028 Posts |
Yeah, I know it was humor and and that you weren't actually asking the forum the question.
I just latched onto the end of your post more to stay on topic and to elaborate on my experience regarding bid rigging.
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New Member
34 Posts |
Yes but bid rigging on your end.Not the buyers.Stay happy lifes short
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Pillar of the Community
1028 Posts |
Quote:
Yes but bid rigging on your end.Not the buyers. In my example I explained how I noticed a certain seller was using unfair tactics against everybody, including costing me more money on two transactions. When I got the seller back, that doesn't exactly equal bid rigging on my part. btw, if I am in the role of bidding on items being sold by another party that would make me a)a buyer b)a seller. I'm not sure where this has escaped you. Stay happy lifes short. |
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Valued Member
United States
104 Posts |
hello coin people, long time, but had to have my share of this conversation. First off, last wk I bid on two peace -1922 -1924-S dollars. I paid 49 with free ship with the spot price in the low to mid 30's that's how I gage my top bid price. So imagine my surprise when the 1922 was a 1921! in fair condition, but what the heck? I felt the need to share my good fortune with people who'd do more than mutter, " that's nice hun," sheesh! Here's what's going on with e-bay and auctions IMO. Many survivalists swear our economy is going totally down the drain and gold and silver are what you'll need to buy a loaf of bread, we have daily ups and downs of the stock market based on wildly fluctuating world economies, adding fuel to the fire, . There are also several documentary type right wing scare videos that instruct people to buy gold and silver to protect their assets. Plus we are in the beggining stages of a hotly contested GOP primary, Ron Paul is right up there and seems to be the only totally honest guy in the running , people are listening to him and he says BUY SILVER... so as more and more people get scared out of their wits, ... you see where I'm going. I myself am buying more junk because what the heck else can you do with your money right now? Of course, it's not junk to me and I look for coins that appeal to my eye for whatever reason. real estate has been the traditional place but until it hits bottom, who's going to invest in it? at least not yet, buy low sell high and silver is down from the 42$ HIGH SO, ADD ALL THIS TOGETHER, AND YOU HAVE THE ANSWER... AND I HAVE A 1921 Peace dollar IN DECENT CONDITION THAT I PAID ABOUT 25 BUCKS FOR! Sometimes life is good ahe? |
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New Member
34 Posts |
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Posted 11/08/2011 10:39 am
