Be Aware of Shill Bidding in AUCTIONS!!

Columbia MO

Description

PSA for all you Boone County and Central Missouri folks buying and selling Antiques, Coins, Collectibles, Guns, Real Estate and Estate Sales from onsite AUCTIONS and online AUCTION platforms. Both locally and nationally! *Especially* if it is your bread and butter, or you are new to AUCTIONS and bidding. It's tax season and some of us are ready to buy and some to sell! *Be Mindful! Some AUCTION platforms allow shill bidding or bump bidding to raise bids (for higher sales, buyer premiums, and fee$) or to discourage bids.  *Be Aware! Shill bidding, bid bumping, and purchasing by staff, employees, auctioneers, or owners with remote and/or realtime access to your bids DURING AUCTIONS, online and remote AUCTIONS particularly, is possible and a common shady practice. Even legal in some cases if it's included in the terms and conditions, a binding contract. For instance HiBid AUCTIONS allow it. Ebay AUCTIONS do not. *Be Sure! Look for and ask from EVERY auction you participate in for your own protection; 1. Terms and conditions. 2. What and when staff, employees, auctioneers, or owners are able to see with regard to your bids within their platform, and whether or not any of those individuals are allowed to bid & purchase against you during any auction. *Be Confident! Speak out if you have any questions or concerns about the bidding on any lot you have ever purchased. You are allowed to ask for and receive a printout of the anonymous bid progression for those lots. *Be $afe! It's your Money! Hold on to it! Good luck out there!