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<p>[QUOTE="imrich, post: 978860, member: 22331"]<b>Very Interesting "Spin"</b></p><p><br /></p><p><br /></p><p><br /></p><p><font face="Arial Black">Since what appears as a disclosed representative has ventured forth to defend what I consider an abhorrent practice, and has presented what I believe to be false statements about a competitor, I feel compelled to present my understandings. </font></p><p><font face="Arial Black"><br /></font></p><p><font face="Arial Black">I believe shill, house, insider, controlled, conflict bidding to be similar, if not identical. In my opinion the names differ, but the outcome is the same. Where I was schooled it's called "conflict of interest", and possibly results in significant penalties for insider actions, especially without "full disclosure". IMHO this practice is reprehensible, but possibly legal, if fine print may state the possibility/conditions of such action. I believe the action should be disclosed as a "house bid" when this practice is implemented in an incremental auction, unless the only bid placed is the final bid. If the bids were placed in an open auction of another, this practice wouldn't be challenged.</font></p><p><font face="Arial Black"><br /></font></p><p><font face="Arial Black">If a name is meaningless in an auction, than disclosure of a "house bid" should have no effect on these insider actions, but competitors would be appropriately informed. In regard to your statement concerning eBay auctions, I believe that their non-descript bidder mechanism assures anonymity, and their "private" auctions guaranty same. </font></p><p><font face="Arial Black"><br /></font></p><p><font face="Arial Black">I was an active buyer from Heritage in the past, purchasing numerous coins, with a prompt payment record. I believe in placing an unconventional (e.g. $234.78) maximum bid at the auction onset, and allow the bidding to continue without any additional efforts. One evening I placed my onset bids on several coins, and awaited the auctions outcome. I won several coins, but one coin which I savored, with an IDENTICAL bid amount, was awarded to another. I had placed the initial bid, and was livid at the outcome. I tried calling to receive an explanation, wrote numerous letters asking for a response/explanation. I received nothing but threats of privilege revocation if I didn't pay promptly for the uncontested auctions I'd won. I didn't pay, and privileges were revoked, not being allowed satisfaction, or firm/records access again. I personally discussed the matter with others who had realized similar limited access for communication, and realized that further efforts were futile.</font></p><p><font face="Arial Black"><br /></font></p><p><font face="Arial Black">If I've erred in my exceptions, or my process understandings, I still have records, and would appreciate constructive correction, or an explanation. I'm fallible, and would acknowledge a logical corrective explanation.</font></p><p><font face="Arial Black"><br /></font></p><p><font face="Arial Black">:bow:</font></p><p><font face="Arial Black"> </font>[/QUOTE]</p><p><br /></p>
[QUOTE="imrich, post: 978860, member: 22331"][b]Very Interesting "Spin"[/b] [FONT=Arial Black]Since what appears as a disclosed representative has ventured forth to defend what I consider an abhorrent practice, and has presented what I believe to be false statements about a competitor, I feel compelled to present my understandings. I believe shill, house, insider, controlled, conflict bidding to be similar, if not identical. In my opinion the names differ, but the outcome is the same. Where I was schooled it's called "conflict of interest", and possibly results in significant penalties for insider actions, especially without "full disclosure". IMHO this practice is reprehensible, but possibly legal, if fine print may state the possibility/conditions of such action. I believe the action should be disclosed as a "house bid" when this practice is implemented in an incremental auction, unless the only bid placed is the final bid. If the bids were placed in an open auction of another, this practice wouldn't be challenged. If a name is meaningless in an auction, than disclosure of a "house bid" should have no effect on these insider actions, but competitors would be appropriately informed. In regard to your statement concerning eBay auctions, I believe that their non-descript bidder mechanism assures anonymity, and their "private" auctions guaranty same. I was an active buyer from Heritage in the past, purchasing numerous coins, with a prompt payment record. I believe in placing an unconventional (e.g. $234.78) maximum bid at the auction onset, and allow the bidding to continue without any additional efforts. One evening I placed my onset bids on several coins, and awaited the auctions outcome. I won several coins, but one coin which I savored, with an IDENTICAL bid amount, was awarded to another. I had placed the initial bid, and was livid at the outcome. I tried calling to receive an explanation, wrote numerous letters asking for a response/explanation. I received nothing but threats of privilege revocation if I didn't pay promptly for the uncontested auctions I'd won. I didn't pay, and privileges were revoked, not being allowed satisfaction, or firm/records access again. I personally discussed the matter with others who had realized similar limited access for communication, and realized that further efforts were futile. If I've erred in my exceptions, or my process understandings, I still have records, and would appreciate constructive correction, or an explanation. I'm fallible, and would acknowledge a logical corrective explanation. :bow: [/FONT][/QUOTE]
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