What benefit does maximum bid viewing have for the auction house in a timed event on Proxibid? Perhaps the option should be banned because unintentionally it leaves the impression that someone is engaged in shill bidding without the proper transparency notice.
Perhaps we don’t understand the dynamics of seeing maximum bids in an auction that is timed technologically. True, the auctioneer can get a sense of how much bidders are willing to spend on a lot; but that transparency does no one any good if the session is run fair and square on the portal. It could be that the auction house can withdraw a lot that doesn’t seem to be doing well as time runs out; but we seldom, if ever, see that happen.
Proxibid has a brand of trust. We just don’t trust this option and think it should be banned … unless, of course, we are mistaken in our suspicion.
What do you think, if you are a bidder? If an auctioneer, what are we missing with this practice that can ease our concern?
Proxiblog is an independent entity with no connection to the auction portal Proxibid. Our intent is to uphold basic numismatic standards as established by the American Numismatic Association and the National Auctioneer Association and to ensure a pleasurable bidding experience not only on Proxibid but also on similar portals such as iCollector and AuctionZip.