Shill Bidding is a fraudulent bidding tactic that has its roots on traditional auction, it is intended to drive up the prices of an item in an auction. Shilling is a known technique used by scrupulous auctioneers.
Auction hucksters usually plant one of their own in the crowd of bidders to rev up interest in an otherwise dull item, the fake bidder will then raise the stakes and seeming importance of an otherwise cheap or ordinary item. The same thing happens online, but besides having fake accounts bidding on an item, some eauction sites have automated bot bidders to raise the going price at the last second of the auction. Though generally the Terms of Agreement of any auction sites disavows using bots or any form of shilling, it remains difficult to prove and it does happen. If you suspect shill bidding is occurring on a penny bidding auction site, then better cancel your subscription with them or let other users know of your auction experience. You may also check Penny watchdog forums and penny site reviews regarding the experiences of fellow penny bidders.
No comments:
Post a Comment