How eBay sellers increase collectible prices drastically.

[A2G]

Hello,

I wanted to inform some of you, if you did not already know, how a collectible, regularly going for about $400-500 US, is all the sudden sold for $1400 in an eBay auctions.

I have been told about this practice by my local comic store who also has an eBay store. I do not know how accurate this information is, but I do not condone these actions.

Some eBay sellers, especially those who rely heavily on their eBay sales and have several of the same item. Put up an item on ebay for 3 times its price at a fixed price and with a high shipping price. They know that chances are unlikely that people will buy this item. They wait for a weeks or more and ask a co-worker or a friend to use their account to buy the item at that price.

This causes the collector community to start buying this statue because the price went up so much. And the sellers to increase all their prices.

Later on that eBay seller will mutually agree with the buyer of that overpriced collectible to cancel the transaction and receive all the fees back from eBay.

A couple of months later that eBay seller will slowly put up the rest of the statues for 2-3x the price, either using their own account or several other accounts.

It is a slow process from what I was told, but it works. I was surprised when I heard about this and quite disappointed.

 

[Rook]

I knew this was happening, but no one's ever explained to me how complex it was. Jackasses...

 

[jye318]

It's true, one of the seller told me to do so and I can pay less money..... I am a seller on eBay , I never know I can do that, but I am just too lazy to do so.

 

[Cheungkinmen]

I don't think there is anything to be done here, unless you don't buy from ebay. There is always someone in need and willing to spend that much for something they want, and that will help drive up prices also.

 

[lord-22]

thats why i'm glad collecting only 1/6 doll.

 

[thenammagazine]

Not sure how accurate that is. In the long run, in listing fees, and then again, in final value fees for continually doing so, it just seems counter productive. I have no doubt there are blatant cases of shell bidding, but this just seems like a babybird conspiracy theory. Bottom line, if someone doesn't feel an item is worth the price, they won't buy it.

 

[gunm]

This practice has been occurring from as long as eBay and other auction sites have been around. It is technically against eBay rules, but it's hard to police/enforce.

Here is eBay's take on it:

https://pages.ebay.com/help/policies/seller-shill-bidding.html

I agree with 'Nam: do not let others decide how much you are willing to pay in an auction. If you find a price is simply too high for you to afford or is beyond what you think the item is worth, do not bid or "Buy It Now".

 

[brothersrobber]

Not sure how accurate that is. In the long run, in listing fees, and then again, in final value fees for continually doing so, it just seems counter productive. I have no doubt there are blatant cases of shell bidding, but this just seems like a babybird conspiracy theory. Bottom line, if someone doesn't feel an item is worth the price, they won't buy it.

Yeah, but the OP is talking about collusion. Which, I too, have long suspected this. I'm especially suspicious of the Hong Kong dealers. I see figures sold in the $500 to $1000 range, when there is the exact figure still available by other sellers for like $350. What is going on? Why would you pay more, when there are cheaper options? Now the guy who is trying to sell for $350 raises his price to $600 because he naively thinks his figure has appreciated. That's how some figures start to appreciate in value on eBay. The collusion in the beginning sets it off.

 

[brothersrobber]

This practice has been occurring from as long as eBay and other auction sites have been around. It is technically against eBay rules, but it's hard to police/enforce.

Here is eBay's take on it:

https://pages.ebay.com/help/policies/seller-shill-bidding.html

I agree with 'Nam: do not let others decide how much you are willing to pay in an auction. If you find a price is simply too high for you to afford or is beyond what you think the item is worth, do not bid or "Buy It Now".

That's "shill bidding," I don't think eBay addresses "shill buying." The OP is talking about fabricating completed BUY IT NOW sales prices. Then both buyer and seller agrees at a later date to cancel/refund or whatever, and all final value fees are returned.

 

[gunm]

It's the same concept in that buyer and seller are conspiring to set the final item price.

In theory though, you can set any BIN you want regardless of perceived or historical market value, so I guess this one would be even harder to police.

 

[spectramr2]

Simple solution....Dont buy from ebay if you think its inflated. This happens all the time. It will keep happening no matter what.

 

[iampoch]

Yeah, this seems to be a different form of shill bidding, but shill bidding nonetheless. This is really not good practice, as it'll bite sellers more in the end. That's the reason why eBay is becoming more and more pro-buyer. It's really hurting the sincerely honest sellers because of these jack@$$ sellers.

 

[2ndname]

That's kind of tough to beat. This is probably why eBay is my last resort when it comes down to purchasing collectibles.

 

[Remy]

Not sure how accurate that is. In the long run, in listing fees, and then again, in final value fees for continually doing so, it just seems counter productive. I have no doubt there are blatant cases of shell bidding, but this just seems like a babybird conspiracy theory. Bottom line, if someone doesn't feel an item is worth the price, they won't buy it.

I agree, I think for the most part this is just a theory or not beneficial. I'm pretty new to selling on ebay and I sold a once priced 1/6 figure not too long ago and was mortified to find out my fee was I believe $50. So it's not practical fir them since the fees at that price is high

 

[zidane]

The buyer determines the value of ANYTHING!!! As long as you are willing to pay the stated amount IT WILL COST THE STATED AMOUNT.

Another SCAM: Charging $1 for an item but then $315 for shipping so they don't get hit with seller fees. Its okay but sneaky if that is the market value and its a BIN I guess but not when its a bid item as the $315 is built in and the buyers can't determine the final value. I've noticed that the more an item gets sold ebay tracks the range of shipping costs and doesn't let you overcharge for shipping (which has been a major scam tool for years IMO).
Case in point:

https://cgi.ebay.com/Air-Jordan-XI-11-Black-Royal-11-LS-X-V-VI-DMP-Space-Jam-/270529796178?pt=US_Men_s_Shoes&hash=item3efcd51852

I've sold some PS3 games which is pretty common on there and notice that I'm capped at about $5 for shipping which is about right anyway when you consider the padded envelope and a tracking number.

The practice of inflated prices is more annoying to me than anything else because it just makes my search go on and on. I have a habit of emailing sellers when something isn't kosher even though I have no intention of getting the item.

About a week ago I emailed a seller about asking for $350 BIN for a Lt. Aldo Raine!!! It's still going for about $150 and needless to say the seller got a bit of my thoughts on his price. Call me a pain in the ____ but someone has to let these people know they're not fooling everybody.

 

[praxitas]

 

[cokebabies]

I report the inflated pricing when I see it. It happens lot with goalie equipment... BIN price for a pair of pads is $1, but $450 for shipping.

 

[LoneWolf]

Case in point:

https://cgi.ebay.com/Air-Jordan-XI-11-Black-Royal-11-LS-X-V-VI-DMP-Space-Jam-/270529796178?pt=US_Men_s_Shoes&hash=item3efcd51852

LOL! Reported this to eBay right away.

 

[zidane]

LOL! Reported this to eBay right away.

Wow! Harsh, I just send them pm's about how they are being unreasonable. In this guys case he's just trying to be sneaky and sticking it to the man!!!

 

[Darkmatter]

any practice that artificially raises the value or bid on an auction is shill bidding and illegal to ebay rules. if you suspect that this is the case, please report the seller.