I have been watching an ebay auction ensue, and have trouble believing what just happened. Makes no sense. Item started bidding at $4.99, was raised to $880 after 6 days, but flew up to $14,500 in the past day, and is marked as sold. Then the same seller listed an identical item today, again starting at $4.99. Was this a scam? Was the auction somehow hacked? What the heck, makes no sense. https://www.ebay.com/itm/355865240022https://www.ebay.com/bfl/viewbids/355865240022https://www.ebay.com/itm/335493983048
Thanks for your quick response. That seems the most likely scenario, that the buyer asked to cancel, based on the possibility they had added one too many zeros to the bid, ie meant to bid $1,400, not $14,000. I suppose it happens, I just found the whole thing weird. Thanks.
In order for bidding to get that high, there had to have been two bidders bidding around that amount. Possibly two bidders each submitting a "nuclear" bid, not expecting to run into another bidder using the same strategy. Or a nuclear bidder and a "sport" bidder. Or some combination of "nuclear" bidding, "sport" bidding or a bidding error.
Thanks for both answers. The item was in the classic toy category, not trading cards, but these items usually sell in the $400 range. It's also correct that there were 2 bidders that caused the bids to jump above $10,000. I will have to further investigate nuclear and sport bidding. Thanks for the help.
danm3030
OP2 years agoThanks for your quick response. That seems the most likely scenario, that the buyer asked to cancel, based on the possibility they had added one too many zeros to the bid, ie meant to bid $1,400, not $14,000. I suppose it happens, I just found the whole thing weird. Thanks.
eburtonlab
Mentor2 years agoIn order for bidding to get that high, there had to have been two bidders bidding around that amount. Possibly two bidders each submitting a "nuclear" bid, not expecting to run into another bidder using the same strategy. Or a nuclear bidder and a "sport" bidder. Or some combination of "nuclear" bidding, "sport" bidding or a bidding error.
woodland_gnome
·2 years agoOr it was bid shielding and the shielder was unable to retract in time. Was it in a trading card category?
danm3030
OP2 years agoThanks for both answers. The item was in the classic toy category, not trading cards, but these items usually sell in the $400 range. It's also correct that there were 2 bidders that caused the bids to jump above $10,000. I will have to further investigate nuclear and sport bidding. Thanks for the help.
eburtonlab
Mentor2 years agoYou are most welcome. Good luck!
eburtonlab
Mentor2 years agoMore likely either the winning bidder did not pay, asked to cancel, or tried to scam the seller, and the seller canceled and relisted the same item.