[Colonial Numismatics] Re Public Deposited
Interesting item on eBay web site item#3305076...
- From bkweston@lazerlink.com Sat Jan 11 08:11:09 2003
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Date: Sat, 11 Jan 2003 16:11:05 -0000
To: colonial-coins@yahoogroups.com
Subject: [Colonial Numismatics] Re: Interesting item on eBay web site item#3305076...
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--- In colonial-coins@yahoogroups.com, Ray Williams <njraywms@o...>
wrote:
> Byron,
> Maybe I have a simpleton mind but why go through all that
trouble and
> effort defrauding the bidders? Why not just post the lot at the
minimum
> you'd be willing to accept for the coin, and it sells or it
doesn't? Why
> start it for way below what you'll accept and go through all the
effort to
> make counterbids on your own item to raise the cost?
>
> Ray W
>
The lot that Rob posted a while back was a good example of why they
do it, they saw a bidder that they thought they could bid-up into a
frenzy, except in that case the guy sort of fooled them and gave up
and the other Amigo then ended up getting the lot. It doesn't always
work, sure, but even so they still have the benefit of postive
feedback from each other, then next time the other guy simply posts
the same coin/lot and they try for another sucker. I think the
general idea is to maximize profits by taking advantage of bidders
who have a tendancy to counter every bid higher than their previous
one.
Look at this way, wouldn't you rather get $15K for your 57-n than $7
or $8K? They simply create their own 'atmosphere,' except in this
case it's in cyberspace!
Byron - 2003-01-11
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