"CUSTOMERS of the internet auction site eBay are being defrauded by unscrupulous dealers who secretly bid up the price of items on sale to boost profits.
An investigation by The Sunday Times has indicated that the practice of artificially driving up prices — known as shill bidding — is widespread across the site."
- timesonline story
Sunday, January 28, 2007
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2 comments:
I view this as a minor "crime" at most. At the end of the day, the buyer paid a price he was willing to pay, and the seller protected himself from selling at a price lower than he was willing to sell at.
Using the term Fraud is an overstatement.
Fraud is not delivering the goods as promised, or refusing to pay once a deal is agreed on.
I thought this story was presented poorly.
You get the same thing in live auctions.
You never know what alliances might have been made before the auction began.
The bottom line is to not bid more than you want to pay.
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