I know there was an article about this a couple weeks ago, but it was closed.
I have been looking for a few coins on ebay and have come across what looks like possible shill bidding. I was trying to get this 1990-S Lincoln Cent Proof PCGS PR69DCAM, but just missed it. - http://offer.ebay.com/ws/eBayISAPI.d...m=290749378620 I had noticed that the person who outbid me had a familiar looking feedback number. When I clicked on his bid info I got this - http://offer.ebay.com/ws/eBayISAPI.d...Buyer_ViewLink In the last 30 days he has bid about once per item on 1626 items, 90% of which were with the same seller. The seller is lccoins, who I've bought coins from several times in the past and been happy with him, but this looks like shill bidding if I've ever seen it. It looks like he could possibly be starting his auctions at 0.99 and then makes an artificial reserve price with this separate account, to get more bids. I guess it could just be another dealer who puts in a floor on all of his auctions and if they happen to go for that low, he knows he could sell them for more. What do you guys think?
What I don't understand, is with shill bidding, if you win lets say 25% of your auctions, how does that work for the seller? There's no way a seller would be paying that commission on all of those coins, especially when they are so low in price. Could the seller be cancelling the transactions? Is there a way to see how many canceled transactions a certain seller or buyer has?