Quality content as always. As you mentioned, you have to be keenly aware of this with more expensive card purchases where quantities are limited. Also, be aware that this sometimes happens before big card shows so a dealer can show a "recent comp" and make you feel like you're getting a great deal on a card when they discount it. For this reason, never just look at the last comp...look at several over time if possible and, as mentioned, look at the accounts bidding on the card. Keep up the great content!
I have to laugh when I constantly see a zero or a one account bidding on some high end card. Ebay profits from shill bidding, so unless the law is going to get involved, I don't see them changing their policies. I use 130point as well, I really don't see them removing shill bids. As we all know shilling goes on with a lot of the auction places, I can't say their name or my comment will be removed.
Yeah, I also don't think eBay has a lot of incentive to do much beyond the surface level (like to just kind of 'look' like they are doing something). It's crazy how much shilling is out there, once you start looking closer.
Absolutely. This is definitely one of many reasons I don't like the high end sports cards realm. The low and mid tier stuff is more fun anyways, and stressless.
Never put your actual final highest bid until an auction is in its last 24 hours and even then, the best success at getting any item for the least possible chance of getting in a bidding war is sniping the item in the last 8-6 seconds of auction,imo.
Dropping academic articles on us now! Woulf be goof to know what that recommended solution for an auction house is, then we can all spruik it next time someone complains about a shilled result, just try to get on ebay's back as a community... Most importantly, don't overpay just because you can see a price comp elsewhere, a card may be worth that much to the #1 Kwame Brown collector for their pC (or perhaps the seller knows who wants it and is extorting that fact for all it's worth!) but fi you think the value is too high or it's not worth it, just don't buy in. #stayinyoilane Finally, if it weren't for 'wesbites that seem to know what they're talking abouy but I know nothing about' none of us would get much done these days. Apprecite the refreshing honesty (and humour), most would have tacitly implied they are some sort of legal eagle!
If you wanna check out that article, its here: oz.stern.nyu.edu/seminar/fa01/1108.pdf . I haven't actually read the whole thing myself, just that abstract. In the abstract it says: "To deter shill bidding, we introduce a mechanism which makes shill bidding unprofitable. The mechanism emphasizes the role of an auctioneer who charges the seller a commission fee based on the difference between the winning bid and the seller’s reserve. Commission rates vary from market to market and are mathematically determined to guarantee the non-profitability of shill bidding." And yeah, your right, as long as your not bidding crazy, shill bidding shouldn't strike you. It's tough though when so many blindly follow eBay comps like its divine right. Just more reason to be weary of the high end stuff.
Quality content as always. As you mentioned, you have to be keenly aware of this with more expensive card purchases where quantities are limited. Also, be aware that this sometimes happens before big card shows so a dealer can show a "recent comp" and make you feel like you're getting a great deal on a card when they discount it. For this reason, never just look at the last comp...look at several over time if possible and, as mentioned, look at the accounts bidding on the card. Keep up the great content!
💯 absolutely. I hadn't thought about the idea more shill bidding happening just before a big card show. That's a very good point.
I have to laugh when I constantly see a zero or a one account bidding on some high end card. Ebay profits from shill bidding, so unless the law is going to get involved, I don't see them changing their policies. I use 130point as well, I really don't see them removing shill bids. As we all know shilling goes on with a lot of the auction places, I can't say their name or my comment will be removed.
Yeah, I also don't think eBay has a lot of incentive to do much beyond the surface level (like to just kind of 'look' like they are doing something). It's crazy how much shilling is out there, once you start looking closer.
I’ll say it for you. PWCC is a shill bidding machine.
@@dsphillips16 can you see previous sales over there? I'd like to look at that closer. I've only really looked at eBay for shilling.
@@dsphillips16 HA, thanks for doing so!
Your videos are amazing. Yeah that's why I only dabble in nickle & dime investing things get weird quick with the high end stuff
Absolutely. This is definitely one of many reasons I don't like the high end sports cards realm. The low and mid tier stuff is more fun anyways, and stressless.
P.s. Glad you're enjoying the videos!
You & foyo Games are part of a new TH-cam revolution of relentless quality content that's way better than far more established channels
Appreciate that my man! I'm doing my best
Never put your actual final highest bid until an auction is in its last 24 hours and even then, the best success at getting any item for the least possible chance of getting in a bidding war is sniping the item in the last 8-6 seconds of auction,imo.
💯 great advice 👍
Dropping academic articles on us now! Woulf be goof to know what that recommended solution for an auction house is, then we can all spruik it next time someone complains about a shilled result, just try to get on ebay's back as a community... Most importantly, don't overpay just because you can see a price comp elsewhere, a card may be worth that much to the #1 Kwame Brown collector for their pC (or perhaps the seller knows who wants it and is extorting that fact for all it's worth!) but fi you think the value is too high or it's not worth it, just don't buy in. #stayinyoilane Finally, if it weren't for 'wesbites that seem to know what they're talking abouy but I know nothing about' none of us would get much done these days. Apprecite the refreshing honesty (and humour), most would have tacitly implied they are some sort of legal eagle!
If you wanna check out that article, its here: oz.stern.nyu.edu/seminar/fa01/1108.pdf . I haven't actually read the whole thing myself, just that abstract. In the abstract it says: "To deter shill bidding, we introduce a mechanism which makes shill bidding unprofitable.
The mechanism emphasizes the role of an auctioneer who charges the seller a commission fee based on the
difference between the winning bid and the seller’s reserve. Commission rates vary from market to market
and are mathematically determined to guarantee the non-profitability of shill bidding."
And yeah, your right, as long as your not bidding crazy, shill bidding shouldn't strike you. It's tough though when so many blindly follow eBay comps like its divine right. Just more reason to be weary of the high end stuff.
Great video
Thanks Robin!