Why do timed auctions need to see maximum bids?


Yesterday we ran a post questioning so-called “no reserve” auctions on Proxibid wherein the auctioneer sees maximum bids and is allowed to shill bid based on the portal’s “transparency” notice. Why is the Omaha-based company allowing timed auctions to see maximum bids when there is no legitimate reason to do so?

This is where the rubber hits the road with Proxibid when compared to eBay. Most of eBay’s auctions are timed. Sellers are forbidden to see maximum bids. Why would they want to, anyway, unless … well, you can figure it out?

EBay does not allow sellers to see maximum bids and quickly shuts down any seller assumed to be engaged in such practices. You can read about shill-bid prevention on eBay by taking the company’s tutorial on the topic.

Policies like this gain our trust. Moreover, we have reported shill bidding suspicions on eBay. The company has checked IP numbers and bingo, the seller was shut down.

But we see no kind of due diligence on Proxibid’s part when it comes to timed auctions that want to see maximum bids.

EBay specifically notes that shill bidding hurts all sellers because it raises suspicions about the entire portal. We wish Proxibid would take a lesson from eBay and ban this and all other spurious practices. Look at it this way: Proxibid has grown in numbers and profits. If it truly wants to live up to its brand of trust, then it has to take action on practices such as these.

Otherwise eBay will continue to gain sellers, especially since its smart-phone technology is vastly superior to Proxibid’s (which continues to develop but not to launch mobile digital access).

We know that our recent posts have criticized Proxibid, which we support. Our intent is not to hinder the company’s progress, but to strengthen its quality control and thereby earn the brand of trust.

We hope auctioneers reading these posts make that case to the company. It’s in their interest as more bidders, including us, buy from eBay.

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.


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