Author Topic: Shilling bidding experiment  (Read 5491 times)

Dr Hackenbush

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Shilling bidding experiment
« on: September 25, 2010, 03:26:34 PM »
A sports authentication and research company, that also has their own auction house, called MEARS (Memorabilia Evaluation and Research Services) conducted a shill bidding experiment in a recent auction of theirs.  They posted an article on their website discussing the results. I know Bruce will appreciate it   ;D

guest8

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Re: Shilling bidding experiment
« Reply #1 on: September 25, 2010, 05:44:14 PM »
That was neat, thanks :)

Offline CSM

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Re: Shilling bidding experiment
« Reply #2 on: October 04, 2010, 11:08:48 AM »
Interesting but I think I would be pissed if I was an "innocent bidder" who really wanted the jersey and had no knowledge or their little experiment...
Chris

Bruce

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Re: Shilling bidding experiment
« Reply #3 on: October 04, 2010, 01:42:50 PM »
That's the whole problem with their "experiment". They took a wildly over-valued item where no one would bid half the reserve, and then drew all kinds of unwarranted conclusions from it. PLUS tons of people knew of the experiment and could have altered the result, knowing they would never be buying anything.

But the kind of shill bidding addressed here (bidders raising prices by placing bids not knowing what other bidders are bidding) is a real problem, but it is dwarfed by the most common bidding problem, which is the auction house raising the bids of absentee bidders when they DO know exactly how much they have bid.

So while this is interesting, it fails to points out that most auction houses are less trustworthy than used car dealers, and that extreme care needs to be taken before participating in any auction.

Bruce

Offline Ari

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Re: Shilling bidding experiment
« Reply #4 on: October 05, 2010, 12:22:13 AM »
re what Bruce said, really annoys me where auction houses use absentee bids like this.
I sometimes bid at an auction house in Australia, (absentee) and somehow EVERY item I have won has been spot on my max bid, never over the years have I won with even $5 change.
I asked them, and they said NO, THEY BID ON MY BEHALF.
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guest8

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Re: Shilling bidding experiment
« Reply #5 on: October 05, 2010, 07:48:05 AM »
re what Bruce said, really annoys me where auction houses use absentee bids like this.
I sometimes bid at an auction house in Australia, (absentee) and somehow EVERY item I have won has been spot on my max bid, never over the years have I won with even $5 change.
I asked them, and they said NO, THEY BID ON MY BEHALF.

Yeah they bid your max right out of the gate :P

Offline kovacs01

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Re: Shilling bidding experiment
« Reply #6 on: October 05, 2010, 11:14:55 PM »
IMO, they just wasted their time here.  It would take a great many items and more attention to secrecy to really prove anything.  I'd take all of that with a grain of salt.
Schan
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