Olympus-OM
[Top] [All Lists]

Re: [OM] Attempted Rip off by ebay seller Canyons12 scaming newbes..

Subject: Re: [OM] Attempted Rip off by ebay seller Canyons12 scaming newbes..
From: "O.C" <oben@xxxxxxxxx>
Date: Thu, 09 Aug 2001 22:53:37 +1000

Its a very prevalent practice in Australian real estate auctions. They are called "vendor bids" or "dummy bids" and are perfectly legal although considerably controversial.

At 10:34 PM Thursday 9/08/2001, you wrote:
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


< This message was delivered via the Olympus Mailing List >
< For questions, mailto:owner-olympus@xxxxxxxxxxxxxxx >
< Web Page: http://Zuiko.sls.bc.ca/swright/olympuslist.html >


<Prev in Thread] Current Thread [Next in Thread>
Sponsored by Tako
Impressum | Datenschutz