Are there really "fake" sold listings?

[barbieobsession]

I was searching through sold listings of OOAK items to get an idea of what they are selling for and how often. I discovered several sold listings that are either the exact same item with more than 1 sold listing or items claimed as sold after 1 bid from a buyer with 0 feedback from a seller with 0 feedback. These listings also "sold" for an outrageous amount compared to sold listings by buyers and sellers with feedback and more than 1 bid. I guess my question is; what are they gaining from doing this? Do they think that if someone sees that you have sold your OOAK items for a lot of money then real people will actually buy your items for that much? I guess it really doesn't change how one may bid on someone else's item because the items in the current listings are at such huge price differences. It's just really annoying and I needed to say something.

[a_c_green]

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@barbieobsession wrote:

I was searching through sold listings of OOAK items to get an idea of what they are selling for and how often. I discovered several sold listings that are either the exact same item with more than 1 sold listing or items claimed as sold after 1 bid from a buyer with 0 feedback from a seller with 0 feedback. These listings also "sold" for an outrageous amount compared to sold listings by buyers and sellers with feedback and more than 1 bid. I guess my question is; what are they gaining from doing this?

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Most likely the seller is getting victimized by sport bidders with no intention of paying (or accepting offers from similar deadbeats), and thus has to relist the item that appeared to have sold previously. Some go through this cycle many times, unfortunately.

[isuruwij_64]

yah

[b12mom]

I look at sold listing to see how much I could sell the same item for. I see things going for over a thousand $$, yet my listing for the exact same thing, sometimes in better condition. doesn't even get a view.

[donsdetour]

Simple: because it say sold:

does not mean they got paid.

[southern-finds]

Look at # of bidders 

[Anonymous]

I am so glad I’m not the only one to notice that! I recently tried to start selling some coins, I’ll admit I am definitely a newbie and still trying to learn but I do have a decent collection with some pretty valuable, so I decided to start kind of in the middle of most valuable to least, I check the reliable coin facts sight and list it for the amount comparable, a hour later I get a offer for more than the asking price! So I’m thinking man that was easy, yeah not so much, it was a gift card scammer, they kept asking me to email them blah blah blah, so I reported them to eBay and reposted said item, it happens again! I finally just pulled it off completely, now I check around what things have actually sold for but there is a lot on the sold list for crazy high amounts, they had me fooled for awhile but it eventually clicked, some scammer throws some random nonsense up, has a friend offer to buy it for the extremely high price, it shows as sold but they both cancel the sale after, they must do it so people feel more comfortable when their item is listed for a lot less than the sold and when they get a good offer they jump at it! The scammers are ruthless! Every item I’ve posted get offers right away, I just decline the offer now! I thought eBay was supposed to be better at not being taken over by scammers! 

[ckimodog]

@Anonymous 

If you want this behavior to stop this is what you do:

Avoid auction style listings with best offers and list all your items at a fixed buy it now price with immediate payment required checked off. Sport bidders and non - paying bidders steer clear of these listings as they must pay instantly. NO best offers either or you will continue to chase the money you are trying to earn.

I stopped using auctions many years ago and now when I have a sale I always get paid.

Happy Selling and Good luck to you!

[soh.maryl]

But you have no way of knowing if those "sold" items were paid for, do you? 

[baydistributionllc]

They call it “creating a market”

They post an item for say $2000 that isn’t worth $20. They use a second account to buy it from themselves. This shows a $2000 sold listing that is essentially fake.

I don’t think it works but they have been doing it for years. You can probably find a princess beanie baby for $2000 still. Its a fake sale.

Its a problem that could have and should have been fixed a long time ago. There is no honest reason for anyone to have two accounts. If they limited everyone to one account, as would make good sense, it would solve A LOT of problems.

”Guest” accounts take that problem and others to another level. Not only do they fail to fix it, they double down and make it exponentially worse.

[conservitvs]

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@baydistributionllc wrote:

Its a problem that could have and should have been fixed a long time ago. There is no honest reason for anyone to have two accounts.

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On the contrary; there are several good/honest reasons for having two or more accounts.

[maxine*j]

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@baydistributionllc wrote:

They call it “creating a market”

They post an item for say $2000 that isn’t worth $20. They use a second account to buy it from themselves. This shows a $2000 sold listing that is essentially fake...

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That might happen, I suppose.  But what you're usually seeing is someone who has another one to sell trying to create buzz and interest and to artifically inflate the value of the item.  He has no intention of ever paying for the item he bid up so high.  He just wants that price on record, so to speak, when he tries to sell his own.  

This kind of market manipulation is an old, old ploy in the antiques, antiquities, and art markets.   Truly, there is nothing is new under the sun.  

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[bryanj330]

I see it as being dishonest. They are relisting at an obscene price after they bought it themselves at the same obscene price to lead people to believe it is a legitimate and fair market price. They also mislead by a dishonestly listing it as "vintage" for example when it is not.  Other sellers then jump on they band wagon. Of course, they all sell it with a no return policy. If Ebay eliminated these obvious and ridiculous to most types of listings, it would give them more credibility as a purchasing website. There should be a way of monitoring these ridiculous and dishonest listings. 

[windycityart4u]

Look at completed "Beanie Babies." The prices are insane. Thought it is possible people are money laundering through eBay. Just a theory. 

[tobaccocardyahoo]

Relying on past prices, or sold prices on Ebay is often unreliable.

Yes, money laundering does occur on this and other marketplaces.

In many sales venues, online and offline, an uncommon item surfaces, and sells for an extraordinary price. Other sellers have their attention raised and additional examples come out of attics, basements, garages and warehouses, and none every comes close to reaching the price of that first sale.

Ebay prices propagate to sites like Worthpoint, where 20 year old prices are displayed. Often they appear high in today's market, but often they have captured an item which only one Ebayer knew the value of, and they paid a fraction of the value of the item. A seller owning one who wants fair value for it, needs to use a venue other than Ebay - perhaps offline - to get a decent price.

Using sold prices on Ebay to price your items because you have no idea what they are worth distorts values, discourages sellers from using the site, and discourages buyers who are faced with a blind purchase.

Many sellers use past Ebay prices to make offers to sellers who allow make an offer. They often are surprised by when the sellers refuse their offer, and indicate displeasure with an insulting offer.

Markets are not perfect. Its do not always sell for top dollar, and often sell for peanuts when the seller is ignorant, prices too low, and chooses at time to sell when no one is looking.