Another GunBroker question. I was looking at the bidding...

[waldonbuddy]

history of a pistol that I'm interested in buying. The pistol in question has "no reserve" listed on the auction.

So I decided to look at the bidding history which has around 30 bids so far.

In one day the same bidder bid ten times in a row. Before this the same bidder bid sporadically one to three times in a row essentially bidding against himself.

Do any of you think this is raising a red flag as in someone is helping the seller drive the price to a more comfortable price?

 

[cuervo]

I don't think you can bid against yourself--it was probably the proxy bidding kicking in.

 

[lions]

If the seller was concerned with the price he would have put a reserve on the pistol. I guess I don't see the angle unless the bidder is just being a jerk and running up the prices on things he doesn't have any real interest in buying.

 

[Z-Michigan]

If it's no reserve, each of his bids should be after someone else's bid outbidding his previous bid. Otherwise it sounds - odd.

Be aware of the autobid feature. However, I think that would show another user's bids vs. the one you're describing as the computer rakes up the proportionate bids of each one based on their autobid maximum level.

 

[sourdough44]

It sounds like the 'auto bid' just passing up a later bid. It could also be that this bidder has entered a new 'max bid'. As long as the seller is not bidding it up it sounds like the normal bidding process.

 

[Oyeboten]

Works the same as e-bay.


If you bid $100.00 on an item which is presently at $10.00...

If the previous bidder had only bid 10, then, your "$100.00 Bid will register as $10.50, or, whatever the minimal bid-increment is.


If Mr. ten comes back and bids again, say, he sees the "$10.50"...so he bids $11.00...which then kicks in your larger Bid to automatically bring it to $12.00...


This does not mean you had personally bid again, but, it is a function of how much you had bid previously, and, how much of it is needed to trump bids which occur after you had bid.

 

[DoubleTapDrew]

It's proxy bidding on his behalf. It'll keep doing that and showing him as the high bidder until someone finally bids more than his maximum amount.

 

[lions]

In one day the same bidder bid ten times in a row.

If the system is bidding for him why would it have him bidding multiple times in a row. I understand that it will automatically place another bid if someone else bids but that doesn't seem to be the case here.

 

[earlthegoat2]

I could count bids whenever a bidder who is the high bidder raises their max bid. On eBay I know this happens.

 

[waldonbuddy]

My thoughts were with loins on this. How could he bid that many times in a row. I can understand if his bid was every other bid, but it isn't.

Since its no reserve it looks like someone is helping the seller so that he won't get burned, and taken for a loss.

I KNOW that happens on Ebay on no reserve auto auctions. I have talked to several dealers at car shows. They told me that they get their cousins, other dealer friends, etc to bid up a no reserve auction to the price where they would break even. Then the leave the bidding alone.

 

[DoubleTapDrew]

My thoughts were with loins on this. How could he bid that many times in a row. I can understand if his bid was every other bid, but it isn't.

He didn't bid that many times in a row (personally anyway), the website did it for him. The proxy bidding works like this: I see a gun I want and put in $500 as my maximum bid. Lets say the starting price of the auction is $300 and goes in $5 increments, so I'm the high bidder at $300. You come along and bid $350. My maximum price is $500 and you entered $350 so it automatically makes me the high bidder again at $355. You then bid $400, and again, it makes me the high bidder at $405. Now it shows me as bidding 3 times in a row in the history even though I haven't even gotten on the computer since I placed that original $500 maximum bid, it's just showing the current price and who placed it, which is me (or rather the website doing it on my behalf) because we haven't gotten to my maximum yet.
Now you get mad and bid $600. My max was $500 so you will finally show up as the high bidder at one increment over my max ($505). But up until you go over my max bid it will keep showing me as the high bidder. It will keep bidding for me (just enough to make me the high bidder) up until it reaches the maximum price I entered.
If it showed every bid rather than just the current "winning" bid it would look like this:
DoubleTapDrew: $300
waldonbuddy: $350
DoubleTapDrew: $355
waldonbuddy: $400
DoubleTapdrew: $405
waldonbuddy: $505

But since it only shows the "winning" bid (and places it instantly if your max is lower than mine) it'll look like this:
DoubleTapDrew: $300
DoubleTapDrew: $355
DoubleTapDrew: $405
waldonbuddy: $505

 

[Oyeboten]

Yes, DoubleTapDrew has explained it best.


And please everyone, if you see me as a present highest bidder, just move on, and don't mess it up?

Thanks...


Lol...

 

[waldonbuddy]

Thanks Drew. Now I understand, it only shows the high bidder.