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Shill Bidding: A quick guide
lyokira
Member Posts: 882 Arc User
Shill Bidding: A quick guide
Foreword: I do NOT encourage shill bidding. This is just a service to inform the public of it's existence, and how to perform one, and/or avoid it's effects. Much of this information is a combination of publicly available information and common sense. This is also to determine if shill bidding is indeed an exploit, since exploits are not permitted to be detailed on the forums, and hence this post would be removed if it is indeed one; regardless, there would be minimal harm done, as everything here is a combination of publicly available information and common sense.
What is Shill Bidding?
Shill bidding is the act of bidding on your own auction against other bidders in order to raise the price at which your item will eventually sell. A bid on an item from anyone related to the seller in almost any way, from friends and family to business associates and roommates, is considered to be a shill bid.
Why would I want to Shill Bid?
As people who have used the Auction House would know, a surcharge of approximately 2% is levied on the minimum price of any auctions set up. This would include auctions set up without a minimum price, as it would default the minimum price to the buyout price. Shill bidding would allow people setting up auctions to forgo the surcharge.
In addition, people are often emotional creatures, and once they have started bidding, they are often tempted to continue bidding even after exceeding the price which they would normally have stopped on, had they not started bidding in advance. Shill bidding lets the auctioning group make use of these emotions in order to attempt commanding a higher price for the eventual sale.
Lastly, in the event that people do not meet your target price, a shill bidding group can force the final bid higher, in effect returning the item, at the cost of 10% of the final bid price.
Why would I not want to Shill bid?
There is an additional 10% surcharge on completed sales. An item which was shill-bidded up but not eventually sold, would have the auctioning group bear the cost of 10% of the final bid, without any sale. You are in effect taking the risk of 10% loss in exchange for the 2% reduction in commission charge.
In addition, this assumes that the whole auction goes smoothly. In an event where no one can place bids for whatever reason (like during maintenance periods), someone who is planning to shill bid may not be able to place those bids in time, and someone who had bidded earlier at the lower price may get the item for much cheaper than the shill bidding group may have wanted.
How do I Shill Bid?
It's easy! All you need are some friends who are willing to work with you (or similar), and with enough AD to perform the bids. After setting up the bid, all that needs to be done is for said friend to watch the same auction, and bid it up. Exact strategies won't be discussed here, as it's a rather complex science pertaining to psychology.
How do I minimize the effects of shill bidding when buying items from the Auction House?
It's easy too! Just make sure you know what is the maximum price you would pay for an item, and do NOT exceed it. Of course, this holds true whether there is shill bidding or not.
Please do not make comments on whether shill bidding is moral or not, nor post irrelevant items. Comments on how to perform shill bidding can be made at your own risk, as is my own risk of posting this up. Comments on how to avoid the effects of shill bidding, is also likewise appreciated
Foreword: I do NOT encourage shill bidding. This is just a service to inform the public of it's existence, and how to perform one, and/or avoid it's effects. Much of this information is a combination of publicly available information and common sense. This is also to determine if shill bidding is indeed an exploit, since exploits are not permitted to be detailed on the forums, and hence this post would be removed if it is indeed one; regardless, there would be minimal harm done, as everything here is a combination of publicly available information and common sense.
What is Shill Bidding?
Shill bidding is the act of bidding on your own auction against other bidders in order to raise the price at which your item will eventually sell. A bid on an item from anyone related to the seller in almost any way, from friends and family to business associates and roommates, is considered to be a shill bid.
Why would I want to Shill Bid?
As people who have used the Auction House would know, a surcharge of approximately 2% is levied on the minimum price of any auctions set up. This would include auctions set up without a minimum price, as it would default the minimum price to the buyout price. Shill bidding would allow people setting up auctions to forgo the surcharge.
In addition, people are often emotional creatures, and once they have started bidding, they are often tempted to continue bidding even after exceeding the price which they would normally have stopped on, had they not started bidding in advance. Shill bidding lets the auctioning group make use of these emotions in order to attempt commanding a higher price for the eventual sale.
Lastly, in the event that people do not meet your target price, a shill bidding group can force the final bid higher, in effect returning the item, at the cost of 10% of the final bid price.
Why would I not want to Shill bid?
There is an additional 10% surcharge on completed sales. An item which was shill-bidded up but not eventually sold, would have the auctioning group bear the cost of 10% of the final bid, without any sale. You are in effect taking the risk of 10% loss in exchange for the 2% reduction in commission charge.
In addition, this assumes that the whole auction goes smoothly. In an event where no one can place bids for whatever reason (like during maintenance periods), someone who is planning to shill bid may not be able to place those bids in time, and someone who had bidded earlier at the lower price may get the item for much cheaper than the shill bidding group may have wanted.
How do I Shill Bid?
It's easy! All you need are some friends who are willing to work with you (or similar), and with enough AD to perform the bids. After setting up the bid, all that needs to be done is for said friend to watch the same auction, and bid it up. Exact strategies won't be discussed here, as it's a rather complex science pertaining to psychology.
How do I minimize the effects of shill bidding when buying items from the Auction House?
It's easy too! Just make sure you know what is the maximum price you would pay for an item, and do NOT exceed it. Of course, this holds true whether there is shill bidding or not.
Please do not make comments on whether shill bidding is moral or not, nor post irrelevant items. Comments on how to perform shill bidding can be made at your own risk, as is my own risk of posting this up. Comments on how to avoid the effects of shill bidding, is also likewise appreciated
Suggestion: Thank-you package to include Celestial Coin rewards
This is an open beta. Start treating it like one.
This is an open beta. Start treating it like one.
Post edited by lyokira on
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Both are by me. This would answer the question faster.
This is an open beta. Start treating it like one.
There's really only one fool-proof way to protect yourself against shill bidding, set your spending limit and stick to it.
http://nw-forum.perfectworld.com/showthread.php?278771-Is-Shill-Bidding-at-the-AH-permissible-or-considered-an-exploit
> http://mopp4.net/ <
This is an open beta. Start treating it like one.