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May 22, 2020 · Shill Bidding. Shill bidding is one of the most common examples of a shady auction tactic. In shill bidding, a seller will have a friend or family member place bids to drive up the competition. While the backfire could lead to the “fake” bidder having to pay up, the potential benefit could gain the seller a lot of profit.
Apr 15, 2020 · Mostly a newbie who is constantly bidding on several auctions but of the same seller can pretty much be a shill bidder. This is because the aim is to offer only on the items of interest and not just everything. They aim to achieve a higher sale on a particular seller’s goods. 4. Ideally, a shill bidder will only place bids on specific auctions.
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Nov 25, 2010 · Shill bidding is a crime and auctioneers need to do everything they can to help eliminate it from the auction industry. Mike Brandly, Auctioneer, CAI, AARE has been an auctioneer and certified appraiser for over 30 years. His company’s auctions are located at: Mike Brandly, Auctioneer, Keller Williams Auctions and Goodwill Columbus Car Auction.
Not all auction houses allow this. I’m a sales manager at an auction and we will ban sellers for shill bidding. We allow the seller to set a reserve, so there’s no reason to artificially prop up the bids. It’s pretty easy to tell when shill bidding is going on because the same bidder number will bid on every item a seller has for sale.
Oct 13, 2023 · His company’s auctions are located at Mike Brandly, Auctioneer, Brandly Real Estate & Auction, and formerly at Goodwill Columbus Car Auction. He serves as Distinguished Faculty at Hondros College , Executive Director of The Ohio Auction School , and an Instructor at the National Auction Association’s Designation Academy and Western College ...
Jan 8, 2019 · Mostly a newbie who is constantly bidding on several auctions but of the same seller can pretty much be a shill bidder. This is because the aim is to offer only on the items of interest and not just everything. They aim to achieve a higher sale on a particular seller's goods. 4. Ideally, a shill bidder will only place bids on specific auctions.
Shill bidding has a significant impact on online car auctions. It leads to inflated prices, creates an artificial sense of demand, and ultimately damages the trustworthiness and credibility of online auctions. To address these concerns, auction platforms like Bring A Trailer have implemented measures such as verifying the identity of bidders ...
