| Author |
 Replies: 11 / Views: 3,511 |
|
|
Pillar of the Community
United States
521 Posts |
I've come across some posts on this but nothing comprehensive. Do you look at the bidding history of the bidder? If so, what do you look at?
|
|
|
|
Pillar of the Community
Canada
4944 Posts |
It's hard to say for sure when someone is shill bidding, however there are a few things you can look for:
- High bid activity with a specific seller.
- Numerous bid retractions.
- Low feedback.
Edited by Canadian-Banknotes
02/22/2016 10:13 pm
|
|
Bedrock of the Community
United States
10982 Posts |
|
|
Valued Member
United States
283 Posts |
Seller feedback and reputation are definitely good things to look at if you suspect a shill.
|
|
Pillar of the Community
United States
7375 Posts |
Above mentioned are good points. Also I would notice coins that bid up quickly, even above fair market value, days before end of auction. It's kinda fun to spot a shill bidding situation, but the bottom line is that if you know what you want to pay for a coin, shills will never be an issue.
Edited by edweather
02/23/2016 12:28 am
|
|
Rest in Peace
United States
10625 Posts |
One thing I look for is seller feedback on completed auctions to a buyer with that feedback rating number. If I find none then I assume shill. I'm not sure what to think about GSC as they seem to have a huge following of buyers that apparently have little numismatic knowledge. Thank you CCF, I could have been one...
Edited by dave700x
02/23/2016 07:16 am
|
|
Moderator
 United States
54283 Posts |
Quote:
but the bottom line is that if you know what you want to pay for a coin, shills will never be an issue. If I "want to pay" $100 for a coin currently at $50, a shill will be an issue. No, they don't cause me to pay more than $100, but they can cause me to pay more than $50. No one wants to pay $100 for something they could get for less. Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
|
Pillar of the Community
United States
1812 Posts |
@BH1964
I assume you think bidder 7***4 is shill bidding with the number of bids placed..
I have done this a day or two before auctions end, when I know I'm going to place a bid say $1500 seconds before it ends and the current high bid is $300..
I will play around and enter 20 or 30 bids one increment at a time and leave it at around $400+, then wait till I place the final bid...
I have done this on the Natick & Web overprint errors..
|
|
Pillar of the Community
United States
7375 Posts |
Quote:
If I "want to pay" $100 for a coin If I think $100 is a good deal for a coin, and I can get for that, case closed, and I don't care about much else. If $100 is a good price, then how do I think I'm getting it for $50? Either it's a good deal or it isn't and I don't watch other bidders for a shill. That's why I should know what a coin is worth and not what other bidders think it's worth. Don't get me wrong, shilling is unacceptable. All I'm saying, is that if I do my homework, shills are not an issue for me. They prey on the uneducated. Point and case: Anybody that buys a raw coin like that, especially from GSC, is asking for trouble. There's a reason it's not in a slab. Broken-Coin, just curious, what is the strategery (  ) in this? Quote:
I will play around and enter 20 or 30 bids one increment at a time and leave it at around $400+, then wait till I place the final bid...
Maybe it's something I can use  Edited by edweather
02/23/2016 4:50 pm
|
|
Pillar of the Community
United States
937 Posts |
Quote:
Point and case: Anybody that buys a raw coin like that, especially from GSC, is asking for trouble. There's a reason it's not in a slab.
You are throwing a very wide and not entirely just blanket over GSC. If one knows their coins and is doing their homework GSC can be a great place to buy raw coins. Twice I have seen coins bought on ebay from GSC bought as MS and PCGS graded them proofs. Just because they sell mostly raw coins does not mean that all the coins are junk. They sell many coins to wise and knowledgeable people who know what they are doing. Trying to cover anyone with such a wide statement displays neither knowledge nor wisdom. |
|
Pillar of the Community
United States
7375 Posts |
Well, you are in the minority. I speak for many others who agree with me, and there are many threads on GSC. Yes, I did make a general statement that many others agree with, if you'll do a little research. Is my statement 100% true, of course not, there are exceptions to every rule, if you can get past some altered coins, juiced photos, and possible shills. I actually bought a slabbed coin from them last year. Ironically, they only scan their slabbed coins, so some good deals are sometimes there.
|
|
Valued Member
United States
398 Posts |
GSC or GreatSouthernCoins is a master of taking a pig and making it look attractive.....
For sure they have some good coins, they are not all junk but more often than not anything of any value will go retail plus as far as price is concerned .....
And if you notice some of their coins have little hidden issues that the camera their oil minimize .....
I am proud to of been banned from bidding on any of their items .... If you raise to much fuss, they will ban you .... Money does talk!
|
| |
Replies: 11 / Views: 3,511 |
|
Posted 02/22/2016 10:41 pm
