1 Day Auction - Coin Community Forum

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Author	Replies: 7 / Views: 1,690
Slider23 Pillar of the Community United States 4468 Posts	Posted 11/04/2015 3:52 pm There is a PL Morgan that I am interested in bidding on up in a one day ebay auction. The auction ends tonight. The seller has 100% feedback and is a coin dealer. The coin is on the rare side and the retail price is $550. The coin already has bids over $350. In the grade for this coin about 2 coins come up for auction each year. This coin is graded MS65 in a PCGS holder and a B coin for the grade. I do not understand why a seller would put up a high demand coin for a one day auction unless the seller is doing shill bidding. Would you pass on the coin or just bid the amount that you are willing to pay. Any comments would be welcome. Report this Post to the Staff

Mister Kairu Pillar of the Community United States 1911 Posts	Posted 11/04/2015 4:03 pm I would bid up to the amount you are willing to pay. Can't hurt and even if you don't get it I would still feel disappointed knowing it was shill bidding or not. Up to you though good luck! Report this Post to the Staff
chequer Pillar of the Community Canada 4227 Posts	Posted 11/04/2015 4:46 pm ebay sellers with any sort of following often have one day auctions. The coins usually get enough exposure to realize a good price - most bids usually come on the last day anyway. It should be safe to bid, but just bid as much as you want to pay. Report this Post to the Staff
Slider23 Pillar of the Community United States 4468 Posts	Posted 11/04/2015 7:24 pm Thanks for the comments. The auction was legit. I put in a bid for $425 and got outbid by two bidders. The coin sold for $450. A 1900 O PL PCGS CAC coin sold for $525 in June on ebay. Here was the link of the coin and auction: 401022134134 Report this Post to the Staff
Turbolag Valued Member United States 127 Posts	Posted 11/04/2015 8:25 pm What is shill bidding? Report this Post to the Staff
JFH Valued Member United States 115 Posts	Posted 11/04/2015 8:38 pm Shill typically refers to someone who purposely gives onlookers the impression that they are an enthusiastic independent customer of a seller (or marketer of ideas) for whom they are secretly working. The person or group who hires the shill is using crowd psychology to encourage other onlookers or audience members to purchase the goods or services (or accept the ideas being marketed). Report this Post to the Staff
Slider23 Pillar of the Community United States 4468 Posts	Posted 11/04/2015 8:43 pm According to ebay rules an owner can not bid on their own coins. A shill is an owner or agent bidding the coin. If the owner wins the auction, they set up a return on the coin, then they do not have to pay ebay fees. Shill bidding creates a false price on the coin, and it is more likely to happen on a higher priced coin in demand. Report this Post to the Staff
Turbolag Valued Member United States 127 Posts	Posted 11/07/2015 3:45 pm ahhh, gotcha. That makes sense, I've known people on ebay to do that with just about anything, I just hadn't heard that term before Report this Post to the Staff
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