Shill bidding on Sedo???

[cjbay]

Does anyone know who regulates shill bidding on Sedo? I mean I see some ridiculous offers on both tdnam and Sedo for some domains and it definately seems like they have someone else bidding for them. Sedo gets a cut right? Who ensures that the sale actually goes through after the auction ends? Does sedo ban people if they dont complete a sale or what?

 

[Name Trader]

I think Sedo are quite lax in their rule implementation. TDNAM ban people. It's automatic in they're system. Don't pay for a domain you won and after 5 days they will not accept any more bids from you, until it's paid.

 

[sky]

If someone wins an auction and doesn't pay, can't they be sued?

I think Sedo are quite lax in their rule implementation. TDNAM ban people. It's automatic in they're system. Don't pay for a domain you won and after 5 days they will not accept any more bids from you, until it's paid.

I've never bid on an auction, but don't they require something binding, and some sort of id, like name/cc#?

 

[dnb8]

I've never bid on an auction, but don't they require something binding, and some sort of id, like name/cc#?

they send you sms to your mobile phone with code

 

[Charley]

they send you sms to your mobile phone with code

Still shill bidding can arise. When the same user registers accounts under different names and use different mobile numbers for sms verification, it constitutes shill bidding.

 

[italiandragon]

Still shill bidding can arise. When the same user registers accounts under different names and use different mobile numbers for sms verification, it constitutes shill bidding.

as long as they know they risk their credit card to be blocked + legal actions.

 

[WORDSWORTH]

This shrieks of online poker rip-offs. A gang inserts say three people at the holdem table to share info about their cards to crush the game. If a gang of, say, 200 individuals were registered with worlwide addresses, it would take a good deal of time for the poker room to recognize betting patterns and take action, if at all. I don't play high stakes poker online for this reason.

What is to stop a bunch of people registering legitimate accounts and then bidding on each other's names? Sedo's system doesn't even reveal who placed the bids, which makes it easy for the shillers. I'm sure that auction houses must have countermeasures in place. However, as has already been stated, they are getting a cut and a higher hammer price means more $$$ for them. Little incentive to investigate and curtail the practice IMO.

Best strategy with auctions IMO is to have a max bid in mind and stop bidding if that figure is surpassed. Pity I can't always listen to my own advice though in the excitement of it all... :D

Matt.

 

[Jeff]

What is to stop a bunch of people registering legitimate accounts and then bidding on each other's names? Sedo's system doesn't even reveal who placed the bids, which makes it easy for the shillers. I'm sure that auction houses must have countermeasures in place. However, as has already been stated, they are getting a cut and a higher hammer price means more $$$ for them. Little incentive to investigate and curtail the practice IMO.

Excellent point(s), Matt! :gl:
Rep. added.

-Jeff