A few posts on another thread led me to thinking about something.
Sellers have ended items for sale on eBay because they have received a large offer to end the auction and sell the item immediately. The bidding is canceled and there is no foul. eBay may not approve of this practice, but we all know it does happen.
It is also made clear to anyone looking at the auction that the item is no longer available for sale, so no shill bidding is taking place.
Now, let's turn the subject. How often do you think this happens with private auction houses? I have not worked a live/internet/phone auction in years, but I know in the old days often an offer would come in for an item that was accepted before the end of the auction. What does the auction house then do?
Could they possibly put a ceiling bid on the item so it cannot possibly sell to anyone else? Do you think this may have happened in recent auctions where items sold for much more than what we consider reasonable because the item was pulled for sale before the end of the auction and the bids were increased so that it was an unsold item?
Sellers have ended items for sale on eBay because they have received a large offer to end the auction and sell the item immediately. The bidding is canceled and there is no foul. eBay may not approve of this practice, but we all know it does happen.
It is also made clear to anyone looking at the auction that the item is no longer available for sale, so no shill bidding is taking place.
Now, let's turn the subject. How often do you think this happens with private auction houses? I have not worked a live/internet/phone auction in years, but I know in the old days often an offer would come in for an item that was accepted before the end of the auction. What does the auction house then do?
Could they possibly put a ceiling bid on the item so it cannot possibly sell to anyone else? Do you think this may have happened in recent auctions where items sold for much more than what we consider reasonable because the item was pulled for sale before the end of the auction and the bids were increased so that it was an unsold item?
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