It’s an unfortunate fact that many auction sites allow sellers or their agents to bid on their properties in order to make you, the real buyers, pay more. Micoley.com has a very strict no-seller-bidding policy. That’s why during every event, we confirm that no seller bidding has occurred on any of our properties.
Shill Bidding Defined
Shill bidding is defined as a seller making a bid on the property in order to increase its selling price, search standing, and attractiveness to actual bidders. This type of bidding also extends to anyone making a bid who is associated with the seller, such as an agent, friend, family member, or co-worker.
Other auction sites have strict policies concerning shill bidding as well. eBay, for instance, removes listings where sellers bid on their own items, and will often suspend or limit their accounts as a result. eBay will also revoke the violator’s PowerSeller status, request a forfeit of fees on cancelled listings, and may even report the person to law enforcement. We at Micoley.com support these practices, as they’re key in discouraging sellers from bidding on their own properties.
We appreciate that you’re here and want you to have a great experience!
Avoid properties on sites that allow seller bidding, and sidestep the many, many problems it creates. Work with us at Micoley.com and choose the site that promotes fair bidding and true market value for listed properties.