No wonder

[Gonz]

I've never found a good deal on eBay. Now I know why.

Revealed: how eBay sellers fix auctions


Recorded excerpts of meetings with Paraskevaides: Clip 1 | Clip 2

CUSTOMERS of the internet auction site eBay are being defrauded by unscrupulous dealers who secretly bid up the price of items on sale to boost profits.
An investigation by The Sunday Times has indicated that the practice of artificially driving up prices — known as shill bidding — is widespread across the site.



Last week one of the UK’s biggest eBay sellers admitted in a taped conversation with an undercover reporter that he was prepared to use business associates to bid on his goods for him.

Our inquiries found evidence that a number of businesses — ranging from overseas property agencies to car dealerships — have placed bids on their own items using fake identities.

The cases raise questions about whether eBay, the world’s biggest auction site, is doing enough to protect consumers.

Shill bidding is against eBay rules and is illegal under the 2006 Fraud Act. However, the resulting higher prices on the site boost the value of eBay’s share of the sales.

source

 

[Inkara1]

If I remember right, that's specifically outlawed in the terms you have to agree to to sell stuff on the site.

 

[2minkey]

against the rules but sure it goes on....

but as long as you don't bid over what you wanna spend....?

 

[chcr]

against the rules but sure it goes on....

but as long as you don't bid over what you wanna spend....?

Yup. Great deals are few and far between. There re some pretty good ones though. You have to pay attention, do your homework and don't bid more than you think it's worth.

Caveat emptor.

 

[Inkara1]

That's how I do it... at the time of my initial bid, I enter in the maximum I'll pay (eBay will automatically bid the minimum amount to outbid the current bid, then if that bid is outbid, it will automaticallu up my bid, and repeat, up to the maximum I specify). If someone outbids me, then I guess they wanted the item more than I did.

 

[Gonz]

Yup. Great deals are few and far between. There re some pretty good ones though. You have to pay attention, do your homework and don't bid more than you think it's worth.

Caveat emptor.

Much like a pawn shop...I've forever heard of great deals but have yet to see one. Hell, I'm willing to pay $30. more for a full warranty ona $200. piece of equipment.

 

[SouthernN'Proud]

I've long suspected this happens, but as previously stated, no one holds a gun to my head and forces my bid either. I let a pair of CDs that I desperately want go the other day because it went higher than I was willing to pay, and I was willing to pay more than they are probably worth.

Auctions as a whole are notorious for bid excitement. We go to a few, and it's easy to get "invested" in an item and end up paying too much for it. Kinda like most debates around here really...the old "I'll show him/her" concept.