I see this all the time

When an auction starts (particularly on E-Bay) and it runs oh say 7 days. Also say it starts out at $.99 and there are always someone who thinks they are going to actually get a $200.00 coin for under $10.00 so they bid it up to $10.00 Then John Q comes along and he bids it up to $100.00 on the first day, now comes the people who run up the price of the coin till it is beyond FMV. They bid it up to $200.00 on day 2. So day 5 comes along and someone who has maybe 25 ratings at E-Bay decides he wants in and now the $200 coin is now $300.00 with no signs of stopping. Then when the few who really know the market for this coin and would of been serious bidders that maybe would go 125% of FMV before numbnuts bid out their A** and ran the price up and over anything reasonable so they are forced (if they want the coin to pay way over FMV) But here's the kicker and I see this so much. The last 20 minutes of the auction all the numbnuts that ran the price up are no where to be found. They didn't really have any idea or really didn't want the coin. They probably had $300 to burn and even if the coin was a $50 coin they bid their $300 and then disappear.

Now I've talked to some who think it is shill bidding and I must admit it wouldn't surprise me even though it is against policy but how do you prove it But I still believe it is just numbnuts (pardon my classification) who don't have any idea what they are doing and just run the price up.

Drives me nuts !!!

On a side note:

I do believe one time I encountered a shill auction at E-Bay. I bid on a coin and at the last 2 seconds someone outbid me by $5.00 and won. Within, oh maybe 15 seconds the person who was auctioning off the coin sent me a message (contact form) and it was a 2nd chance offer. Now how would he/she know the winning bidder was defaulting that fast. It was like end of auction, oh here is a 2nd chance offer all within 15 or 20 seconds.

Well, I will step off the soapbox now and yield to the next individual. Just thought I'd mix it up a bit and complain about something other than PCGS coins.

One last item. For those that collect the ASE Mint State, you will notice that the slot opened for the 2012. I contacted Dena and she informed me that any of the 2012 ASE can be used in that slot. So you can pick your label and it will work, W or S whatever. There will NOT be a slot for the W Mint or S Mint, it is just a generic slot. If you so chose to go the label route (purchase each type label)NGC created a new set type that will accommodate all the various labels. (For those that would like a bullet for the pistol step to the front please)<<<< sarcastic humor.

With that I bid you adieu

moondoggy