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- 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.
blog.realtyhive.com › shill-bidding-other-shady-auction-tacticsReal Estate 101: Shill Bidding & Other Shady Auction Tactics
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Is shill bidding a type of auction fraud?
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What is a shill bid?
May 22, 2020 · 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 · What is shill bidding? Essentially, shill bidding refers to the practice of a seller using another user identification, which they have created, then using it to bid on their listings. They sometimes even go to the extent of creating and using multiple accounts all in their favor.
Nov 25, 2010 · Shill bidding occurs at auctions all over the world every day. Is it a widespread occurrence? I would guess not, but it’s not hard to find. No type of auction is exempt — live, online, live and online, silent, sealed bid, or other. So what is shill bidding? Let’s look first at the word, “shill.”
ETA: And yes, I believe there's shill bidding going on at most local auction houses that use the online software. The several I've seen that appear not to have any shill bidding are the ones that have a built up clientele with money to spend. These auction houses were successful before the pandemic.
Aug 1, 2017 · Shill bidding is intentionally fake bidding by a seller on his/her own auction to inflate the final price. This can be accomplished either by the seller himself/herself or by someone colluding with the seller to place fake bids on his/her behalf.
- Nazia Majadi, Jarrod Trevathan, Heather Gray, Vladimir Estivill-Castro, Neil Bergmann
- 2017
Home » Fraud » Auction Fraud » Shill Bidding. A NY Defense Lawyer Explains The Crime of Shill Bidding. The eBay terms of service clearly prohibit the practice of shill bidding. Shill bidding is not permitted in online or live auctions and it can actually rise to the level of a criminal offense.
Shill bidding in an online auction occurs when an individual bids on his or her own item (or has an associate bid on the item) in order to artificially raise the price. With the rise in popularity of online auctions, shill bidding has increasingly become an area of concern.
