Quote:
Originally Posted by techweenie
You're not paying attention. If you try to outbid a shill you will lose. Bid what you want to pay and no more.
It's really very simple. A shill bid is not a real bid.
|
I guess you really are that dense.
Of course a shill bid is not a real bid. But it's indistinguishable from a real bid from a legit buyer's point of view. That's the whole point. You're supposed to think you're bidding against a real buyer.
If you try to outbid a shill you will not lose. A shill bid is designed not to win the auction, but to push up the price of the eventual winning bid. Ideally (from the point of view of the shill) a shill bid should be the second highest of the auction, not the winning bid.
Of course you bid the max you're willing to pay and no more. But the winners of most auctions wind up paying less than their maximum bid. The amount of the winning bid minus the amount of the shill bid is money obtained fraudulently by the seller..