A shill bidder is one who is in league with a seller. The shill bidder(s)
bid to drive up the price and intice reputable bidders to enter the
competitive bidding for a supposedly "valuable" item. It's a very old
real-life auction technique used by people selling poor quality, faked, or
counterfit antiques to drive up the price and suck in inexperienced buyers.
If the technique backfires and one of the shill bidders actually wins the
auction, the seller simply pays himself and writes off any auction fees and
commissions as a cost of doing "business".
Skip
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From: Roger Wesson <roger@xxxxxxxxxxxxxxxxxxxxxxx>
Reply-To: olympus@xxxxxxxxxxxxxxx
To: olympus@xxxxxxxxxxxxxxx
Subject: Re: [OM] Attempted Rip off by ebay seller Canyons12 scaming
newbes..
Date: Thu, 09 Aug 2001 11:49:10 +0100
It's a different language around here! I now know what 'bokeh' is, but
what exactly is a 'shill'??
Roger
Larry wrote:
>
> So, do you think one of the shills won? Or some "naive person" overbid
the
> shills?
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