These Are Some Expensive Indians . . . But Why?

He probably had several regular buyers and put together a package of high end Indians and wanted them to bid against each other using the ebay platform. So sort of a semi-private option. That would seem to make sense.

That doesn't make any sense at all . It's like all bidders have lost their minds . A shill bidder really makes no sense as who in their right mind would bid higher than him for what this seller is offering .

He also has this auction going, which are common coins selling for way over retail already.

https://www.ebay.com/itm/77-Silver-...AOSw~eJct4a-

Seems like something out of the ordinary is going on.

Money laundering?

If I read the listing correctly AND look at the 11 coins image I come to these conclusions:
-- you will not get what's shown
-- what's shown are common dates (1890's and 1900's)
-- 11 IHC's for $16.99 isn't bad (~$1.59 each) IF they are of the quality shown.

But I'm the type that says I want to see exactly what I'm getting -- and BOTH sides.

It looks odd but I suspect this is a case of bidding founded on a (possibly good) assumption -- that the average person will not put items in a safe deposit box unless they have a value that merits the (rather expensive) rent.

Ask yourself one question: If I were going to store my coins in a small safe deposit box, which coins would I choose to put in the box?

That being said, it's a gamble, just like buying storage units or any other repossessed / auctioned "blind" lots.

Bid raises from buyer s*s from 4:54:35 to 4:55:19, a span of just under two minutes, on 4/10
$6 $6 $6 $6 $3 $2 $6 $3 $3 $6 $6 $2 $6 $6 $8 ($72 increase)
These were unopposed raises (no bids in opposition) -- why do that?

The bidder with 27+k feedback raised his bid from $375 to $564 by placing 6 bids in a span of 11 seconds (!!) despite no opposing bids.
At $564 our winning bidder jumps in with a $569.99 bid, which is raised to $620 by 27k feedback guy
27k feedback guy then raises his bid from $620 to $930 in less than 3 minutes

However, as a counterpoint, Texas does sell unclaimed property via ebay. To quote Texas law on the process:

SUBCHAPTER E. DISPOSITION OF DELIVERED PROPERTY

Sec. 74.401. SALE OF PROPERTY. (a) Except as provided by Subsection (c) or Section 74.404, the comptroller shall sell at public sale all personal property, other than money and marketable securities, delivered to the comptroller in accordance with Section 74.301. The comptroller shall conduct the sale in the city in this state that the comptroller determines affords the most favorable market for the particular property.

(b) The comptroller shall sell the property to the highest bidder. If the comptroller determines that the highest bid is insufficient, the comptroller may decline that bid and offer the property for public or private sale.

The names and amounts are public knowledge. So if seller chooses to, he can disclose to a bidder the name of the individual whose safety deposit box it was, and the city in which it was located, and then the bidder can use the state's own unclaimed property website to see the unclaimed amount or an estimate of its value based on declared contents.

This account APPEARS to be the official account from the State of Texas based on what research I was able to do. They shouldn't play favorites, but you never know. Like pretty much everything else in Texas, the auction process is subcontracted to private companies and individuals, not run directly by the State.

I checked myself a couple years ago and found I had $67 unclaimed from a 15 year old savings account back when I was married. Didn't bother claiming it since the required paperwork wasn't worth the hassle and since I'd have to convince my ex to sign it as well.

And yes, it's a gamble, but look at the TV and see people bidding hundreds or thousands of dollars bidding on "sealed" repossessed storage units and either ending up very disappointed or very lucky. Sometimes you get the goat, sometimes you get money. One of the bidders I saw when I was in the hospital last time bid something like $1300 and won a bunch of old stuffed animals, junky furniture, and bed linens. This is offset by the people who win one for $500 and find it full of old car parts, coins, sports cards, artwork, jewelry or whatever.

Just like the unclaimed storage unit auctions, and estate sales too, the people running the auctions can and will tip off "preferred" bidders/buyers as to the contents in advance, often with the exact intent to create a bidding war.