Ebay sellers charged with bidding up

Ebay sellers charged with bidding up

Post by phil » Tue, 09 Nov 2004 05:37:29



8 EBay Sellers Admit to Phony Bids

1 hour, 32 minutes ago   Business - AP

By MICHAEL GORMLEY, Associated Press Writer

ALBANY, N.Y. - Eight eBay sellers were ordered to pay nearly $90,000 in
restitution and fines after admitting they bid up products online to inflate
the prices.

Quote Data provided by Reuters

New York Attorney General Eliot Spitzer said more than 120 people will
receive restitution in the settlement of the three cases, which wrapped up
last week in state courts.

Spokesman Darren Dopp said the cases stemmed from specific complaints, but
the office has not conducted a broad investigation of the online auction
industry and doesn't know how widespread the practice of phony bidding is.

One buyer, Brad Clarke, 48, of Peachtree City, Ga., already has received a
check for $3,089 after overpaying for a 1999 Jeep Cherokee sport utility
vehicle he bought on eBay from a New York seller in 2002.

"I'd always been suspicious because it seems like an easy thing to do, to
just keep bidding up," Clarke said. "But I was still just completely shocked
and very surprised."

Three sellers were accused of making 610 bids on 106 of their car auctions
under the user name "Mother's Custom Automotive NY Dealer." They are paying
more than $28,000 in penalties and restitution, Spitzer said. Their lawyers
declined to comment.

In another case, the operator of an art auction house and two former
employees were accused of bidding on more than 1,100 of each others' eBay
items for more than five years to drive up the prices. Some paintings sold
for thousands more than they were worth.

Spitzer said one of the sellers pleaded guilty to a felony charge, the other
two to misdemeanors. They were ordered to pay more than $50,000 in
restitution and fines.

The other two defendants were accused of making 170 phony bids on their
sports memorabilia items. They agreed to pay $10,000 in penalties and
restitution.

--
Today 50 families will find out their child has autism.
1 in 150 children have an autism spectrum disorder.

 
 
 

Ebay sellers charged with bidding up

Post by note.bo » Tue, 09 Nov 2004 05:49:51


Very interesting as I'm currently watching a note that sold now on ebay
for sale now by the buyer's brother, they have bid, and sometimes won to
prevent an item going "cheap", on each others auctions in the past I'm
waiting for them to do so again.  Billy
Quote:

> 8 EBay Sellers Admit to Phony Bids

> 1 hour, 32 minutes ago   Business - AP

> By MICHAEL GORMLEY, Associated Press Writer

> ALBANY, N.Y. - Eight eBay sellers were ordered to pay nearly $90,000 in
> restitution and fines after admitting they bid up products online to inflate
> the prices.

> Quote Data provided by Reuters

> New York Attorney General Eliot Spitzer said more than 120 people will
> receive restitution in the settlement of the three cases, which wrapped up
> last week in state courts.

> Spokesman Darren Dopp said the cases stemmed from specific complaints, but
> the office has not conducted a broad investigation of the online auction
> industry and doesn't know how widespread the practice of phony bidding is.

> One buyer, Brad Clarke, 48, of Peachtree City, Ga., already has received a
> check for $3,089 after overpaying for a 1999 Jeep Cherokee sport utility
> vehicle he bought on eBay from a New York seller in 2002.

> "I'd always been suspicious because it seems like an easy thing to do, to
> just keep bidding up," Clarke said. "But I was still just completely shocked
> and very surprised."

> Three sellers were accused of making 610 bids on 106 of their car auctions
> under the user name "Mother's Custom Automotive NY Dealer." They are paying
> more than $28,000 in penalties and restitution, Spitzer said. Their lawyers
> declined to comment.

> In another case, the operator of an art auction house and two former
> employees were accused of bidding on more than 1,100 of each others' eBay
> items for more than five years to drive up the prices. Some paintings sold
> for thousands more than they were worth.

> Spitzer said one of the sellers pleaded guilty to a felony charge, the other
> two to misdemeanors. They were ordered to pay more than $50,000 in
> restitution and fines.

> The other two defendants were accused of making 170 phony bids on their
> sports memorabilia items. They agreed to pay $10,000 in penalties and
> restitution.

> --
> Today 50 families will find out their child has autism.
> 1 in 150 children have an autism spectrum disorder.


 
 
 

Ebay sellers charged with bidding up

Post by note.bo » Tue, 09 Nov 2004 05:52:57


Should be "that *I* sold now on ebay".  Billy
Quote:

> Very interesting as I'm currently watching a note that sold now on ebay
> for sale now by the buyer's brother, they have bid, and sometimes won to
> prevent an item going "cheap", on each others auctions in the past I'm
> waiting for them to do so again.  Billy


> > 8 EBay Sellers Admit to Phony Bids

> > 1 hour, 32 minutes ago   Business - AP

> > By MICHAEL GORMLEY, Associated Press Writer

> > ALBANY, N.Y. - Eight eBay sellers were ordered to pay nearly $90,000 in
> > restitution and fines after admitting they bid up products online to inflate
> > the prices.

> > Quote Data provided by Reuters

> > New York Attorney General Eliot Spitzer said more than 120 people will
> > receive restitution in the settlement of the three cases, which wrapped up
> > last week in state courts.

> > Spokesman Darren Dopp said the cases stemmed from specific complaints, but
> > the office has not conducted a broad investigation of the online auction
> > industry and doesn't know how widespread the practice of phony bidding is.

> > One buyer, Brad Clarke, 48, of Peachtree City, Ga., already has received a
> > check for $3,089 after overpaying for a 1999 Jeep Cherokee sport utility
> > vehicle he bought on eBay from a New York seller in 2002.

> > "I'd always been suspicious because it seems like an easy thing to do, to
> > just keep bidding up," Clarke said. "But I was still just completely shocked
> > and very surprised."

> > Three sellers were accused of making 610 bids on 106 of their car auctions
> > under the user name "Mother's Custom Automotive NY Dealer." They are paying
> > more than $28,000 in penalties and restitution, Spitzer said. Their lawyers
> > declined to comment.

> > In another case, the operator of an art auction house and two former
> > employees were accused of bidding on more than 1,100 of each others' eBay
> > items for more than five years to drive up the prices. Some paintings sold
> > for thousands more than they were worth.

> > Spitzer said one of the sellers pleaded guilty to a felony charge, the other
> > two to misdemeanors. They were ordered to pay more than $50,000 in
> > restitution and fines.

> > The other two defendants were accused of making 170 phony bids on their
> > sports memorabilia items. They agreed to pay $10,000 in penalties and
> > restitution.

> > --
> > Today 50 families will find out their child has autism.
> > 1 in 150 children have an autism spectrum disorder.

 
 
 

Ebay sellers charged with bidding up

Post by Ira Ste » Tue, 09 Nov 2004 06:32:46


Phil Motyka highlighted the following article:

<< 8 EBay Sellers Admit to Phony Bids

1 hour, 32 minutes ago   Business - AP

By MICHAEL GORMLEY, Associated Press Writer

ALBANY, N.Y. - Eight eBay sellers were ordered to pay nearly $90,000 in
restitution and fines after admitting they bid up products online to inflate
the prices.

Quote Data provided by Reuters

New York Attorney General Eliot Spitzer said more than 120 people will
receive restitution in the settlement of the three cases, which wrapped up
last week in state courts.

Spokesman Darren Dopp said the cases stemmed from specific complaints, but
the office has not conducted a broad investigation of the online auction
industry and doesn't know how widespread the practice of phony bidding is.

One buyer, Brad Clarke, 48, of Peachtree City, Ga., already has received a
check for $3,089 after overpaying for a 1999 Jeep Cherokee sport utility
vehicle he bought on eBay from a New York seller in 2002.

"I'd always been suspicious because it seems like an easy thing to do, to
just keep bidding up," Clarke said. "But I was still just completely shocked
and very surprised."

Three sellers were accused of making 610 bids on 106 of their car auctions
under the user name "Mother's Custom Automotive NY Dealer." They are paying
more than $28,000 in penalties and restitution, Spitzer said. Their lawyers
declined to comment.

In another case, the operator of an art auction house and two former
employees were accused of bidding on more than 1,100 of each others' eBay
items for more than five years to drive up the prices. Some paintings sold
for thousands more than they were worth.

Spitzer said one of the sellers pleaded guilty to a felony charge, the other
two to misdemeanors. They were ordered to pay more than $50,000 in
restitution and fines.

The other two defendants were accused of making 170 phony bids on their
sports memorabilia items. They agreed to pay $10,000 in penalties and
restitution.

<<

Good. Hope they get others, especially in the coin industry where the practice
is rampant! These dealers often brag about it to other dealers. Lots of those
so-called "no reserve auctions" that start at $1.00 for items sometimes worth
$$ thousands are often either bid up by confederates of the seller or by one of
a dozen  eBay IDs he has. Of course, the headers might show  all are from the
same ISP address but biddeers don't know that.

Now to be fair, not ALL are that rigged, but plenty are. With bids coming in at
the last 30 minutes of the auction in many cases. i do know that since eBay
started charging a 1% reserve fee in addition to the listing fee, I stopped
starting klower than my absolute minimum. It's cut down on the e***ment of
the auctions, but it also reduces further incursions into my wallet by eBay.
After all, as eBay has stated, the fees were raised to "better serve you, our
loyal customers."

Huh?

Ira Stein

 
 
 

Ebay sellers charged with bidding up

Post by phil » Tue, 09 Nov 2004 07:07:22


I beleive most sellers are honest-but the few that aren't get all the press.

--
Today 50 families will find out their child has autism.
1 in 150 children have an autism spectrum disorder.

Quote:
> Phil Motyka highlighted the following article:

> << 8 EBay Sellers Admit to Phony Bids

> 1 hour, 32 minutes ago   Business - AP

> By MICHAEL GORMLEY, Associated Press Writer

> ALBANY, N.Y. - Eight eBay sellers were ordered to pay nearly $90,000 in
> restitution and fines after admitting they bid up products online to
inflate
> the prices.

> Quote Data provided by Reuters

> New York Attorney General Eliot Spitzer said more than 120 people will
> receive restitution in the settlement of the three cases, which wrapped up
> last week in state courts.

> Spokesman Darren Dopp said the cases stemmed from specific complaints, but
> the office has not conducted a broad investigation of the online auction
> industry and doesn't know how widespread the practice of phony bidding is.

> One buyer, Brad Clarke, 48, of Peachtree City, Ga., already has received a
> check for $3,089 after overpaying for a 1999 Jeep Cherokee sport utility
> vehicle he bought on eBay from a New York seller in 2002.

> "I'd always been suspicious because it seems like an easy thing to do, to
> just keep bidding up," Clarke said. "But I was still just completely
shocked
> and very surprised."

> Three sellers were accused of making 610 bids on 106 of their car auctions
> under the user name "Mother's Custom Automotive NY Dealer." They are
paying
> more than $28,000 in penalties and restitution, Spitzer said. Their
lawyers
> declined to comment.

> In another case, the operator of an art auction house and two former
> employees were accused of bidding on more than 1,100 of each others' eBay
> items for more than five years to drive up the prices. Some paintings sold
> for thousands more than they were worth.

> Spitzer said one of the sellers pleaded guilty to a felony charge, the
other
> two to misdemeanors. They were ordered to pay more than $50,000 in
> restitution and fines.

> The other two defendants were accused of making 170 phony bids on their
> sports memorabilia items. They agreed to pay $10,000 in penalties and
> restitution.

> <<

> Good. Hope they get others, especially in the coin industry where the
practice
> is rampant! These dealers often brag about it to other dealers. Lots of
those
> so-called "no reserve auctions" that start at $1.00 for items sometimes
worth
> $$ thousands are often either bid up by confederates of the seller or by
one of
> a dozen  eBay IDs he has. Of course, the headers might show  all are from
the
> same ISP address but biddeers don't know that.

> Now to be fair, not ALL are that rigged, but plenty are. With bids coming
in at
> the last 30 minutes of the auction in many cases. i do know that since
eBay
> started charging a 1% reserve fee in addition to the listing fee, I
stopped
> starting klower than my absolute minimum. It's cut down on the e***ment
of
> the auctions, but it also reduces further incursions into my wallet by
eBay.
> After all, as eBay has stated, the fees were raised to "better serve you,
our
> loyal customers."

> Huh?

> Ira Stein

 
 
 

Ebay sellers charged with bidding up

Post by Dave » Tue, 09 Nov 2004 08:26:46


on that 1% reserve fee i hadnt noticed it. how does it work? i usually start
mine at a buck but maybe i shouldnt?

thnx


Quote:
> Phil Motyka highlighted the following article:

> << 8 EBay Sellers Admit to Phony Bids

> 1 hour, 32 minutes ago   Business - AP

> By MICHAEL GORMLEY, Associated Press Writer

> ALBANY, N.Y. - Eight eBay sellers were ordered to pay nearly $90,000 in
> restitution and fines after admitting they bid up products online to
> inflate
> the prices.

> Quote Data provided by Reuters

> New York Attorney General Eliot Spitzer said more than 120 people will
> receive restitution in the settlement of the three cases, which wrapped up
> last week in state courts.

> Spokesman Darren Dopp said the cases stemmed from specific complaints, but
> the office has not conducted a broad investigation of the online auction
> industry and doesn't know how widespread the practice of phony bidding is.

> One buyer, Brad Clarke, 48, of Peachtree City, Ga., already has received a
> check for $3,089 after overpaying for a 1999 Jeep Cherokee sport utility
> vehicle he bought on eBay from a New York seller in 2002.

> "I'd always been suspicious because it seems like an easy thing to do, to
> just keep bidding up," Clarke said. "But I was still just completely
> shocked
> and very surprised."

> Three sellers were accused of making 610 bids on 106 of their car auctions
> under the user name "Mother's Custom Automotive NY Dealer." They are
> paying
> more than $28,000 in penalties and restitution, Spitzer said. Their
> lawyers
> declined to comment.

> In another case, the operator of an art auction house and two former
> employees were accused of bidding on more than 1,100 of each others' eBay
> items for more than five years to drive up the prices. Some paintings sold
> for thousands more than they were worth.

> Spitzer said one of the sellers pleaded guilty to a felony charge, the
> other
> two to misdemeanors. They were ordered to pay more than $50,000 in
> restitution and fines.

> The other two defendants were accused of making 170 phony bids on their
> sports memorabilia items. They agreed to pay $10,000 in penalties and
> restitution.

> <<

> Good. Hope they get others, especially in the coin industry where the
> practice
> is rampant! These dealers often brag about it to other dealers. Lots of
> those
> so-called "no reserve auctions" that start at $1.00 for items sometimes
> worth
> $$ thousands are often either bid up by confederates of the seller or by
> one of
> a dozen  eBay IDs he has. Of course, the headers might show  all are from
> the
> same ISP address but biddeers don't know that.

> Now to be fair, not ALL are that rigged, but plenty are. With bids coming
> in at
> the last 30 minutes of the auction in many cases. i do know that since
> eBay
> started charging a 1% reserve fee in addition to the listing fee, I
> stopped
> starting klower than my absolute minimum. It's cut down on the e***ment
> of
> the auctions, but it also reduces further incursions into my wallet by
> eBay.
> After all, as eBay has stated, the fees were raised to "better serve you,
> our
> loyal customers."

> Huh?

> Ira Stein

 
 
 

Ebay sellers charged with bidding up

Post by Ira Ste » Tue, 09 Nov 2004 08:36:37


Dave asks:

<< on that 1% reserve fee i hadnt noticed it. how does it work? i usually start

mine at a buck but maybe i shouldnt?

thnx >>

eBay charges 1% of the reserve up to $10,000, cappinmg at $100 per insertion if
the item is $10,000 or more. How generous. Since higher priced items often take
5-8 insertions to sell, if they sell at all, that a lot of $$ for eBay
especially for non-successful auctions.

So if you start at $1.00 but have a resrve of $1000 for example, you'll pay, in
addition to the insertion fee, $10. If the item has a reserve $5000 then you'll
pay $50, etc.. This holds even if you start a 1c! Of course, if item sells, the
Final Value fee applies as well.

This benefits the eBay family, don'cha think?

Ira Stein