1 Oct
2010
1 Oct
'10
10:21 p.m.
On Fri, 1 Oct 2010, Tony Duell wrote:
3) In the last few seconds a shill puts in an
outlandish bid (say $1000
for a itme that noone would pay more than $50 for). Of course he wins it
4) The shill bid is withdreawn by 'mutual ageeement' giving reasons like
'The buyer didn't realise it wasn't <foo>'.
5) But the seller now knows the highest legitimate bid limit. He then
offers the item to that buyer at that price. Point being, he's getting
that bid limit, not the real high bid (one incement over the second
highest bid limit)
another variant:
3) well before the end, the shill puts in a completely ridiculous bid.
4) the active bid is moved to one increment over your bid.
5) the shill retracts the "mistaken" bid - "my keyboard stuck"
6) the shill, or shill#2, now places a bid just below yours, so that when
you win the auction, it is at your maximum bid.