It is my understanding that often the shill bids are not
necessarily meant for the present sale, but are intended for a later
sale, in order to show that the car was bid up to and hence was worth $XX
at auction. Makes for a much higher starting price the second time
around.
Bill Huff
At 1/12/200812:19 PM, Jim Pristelski wrote:
Gary,
I agree. The bidding history indicates to me that there was a fair
amount of shill bidding going on. In particular, there was one
bidder with near zero feedback who put in about 10 bids with $500
increments between about $13000 and $18000 (I presume the latter number
because the bidding never got that high.), all within a few
minutes. Then, about one day before the end of the auction, after
some apparently legitimate bidders entered the bidding, all of those bids
were withdrawn or cancelled. It looked pretty fishy to me.
But then, maybe the shill bidding captured a legitimate bidder.
Jim in not too bad in January weather in Illinois
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