Has anybody tried Whatnot auctions?

Discussion in 'Marketplace Discussions' started by mooseman, Jan 29, 2023.

  1. Pali Gap

    Pali Gap Whiskey, mystics and men

    Location:
    Under the bridge
    Again, it makes no sense to blame sellers for buyer stupidity. Any business wants to maximise profit whenever possible, it only makes sense.
     
  2. Pali Gap

    Pali Gap Whiskey, mystics and men

    Location:
    Under the bridge
    I looked at that listing and sales history myself. If someone paid $322 for a copy in 2017, it's reasonable to expect someone might be willing to pay $360 for a NM- copy of an extremely rare Lp in 2023.
    It's not really 'gouging' if someone is willing to pay the asking price for an Lp. It's not like they're buying milk or gas lol. :doh:
     
  3. Quakerism

    Quakerism Lean into what frightens you.

    Location:
    Rural Pennsylvania
    I might not be stating my objection clearly. I’m not blaming sellers for buyer stupidity. Not at all. I’m saying the format of online auctions is contributing to inflated prices unnecessarily and to the detriment of the vinyl community.

    There is a very real possibility that some of the high closings on practically anything auctioned is driven by other than supply and demand. Shill bidders, identity theft and simple bravado are variables not related to market demand.

    And the trend is for anyone who regularly acquires vinyl collections to establish an online presence and forgo the set price brick and mortar. They might have a storefront but only to benefit from an expanded tax deduction opportunity.

    The trend is killing off local walk in traffic which isn’t a concern to the online seller even if he has a storefront. He keeps the doors open for a variety of reasons the least of which is to sell pre priced inventory. He is making his living from online auctions and sales. His local dedicated buyers don’t get to see all the “good stuff” in the store.

    Even thrift stores are eliminating their vinyl shelves in favor of online auctions. Which to me says they aren’t thrift anymore.
     
    caravan70, astro70 and Dale A B like this.
  4. Pali Gap

    Pali Gap Whiskey, mystics and men

    Location:
    Under the bridge
    It's apparent you have no respect for the amount of effort and dedication it takes to run a record store. These same owners have historically struggled to keep their shops open (many lost the struggle), and then there was COVID. Now they sell online using any platform available, not hard to understand why.
     
  5. eddiel

    eddiel Senior Member

    Location:
    Toronto, Canada
    They have the money, they want the item and they don't want to waste time = nobody is going to outbid me. There's a lot of people out there that don't care about the money, they just want the item and will pay for it.

    Unfortunately for me, I don't have such a seller reputation so I never get the crazy bidding those sellers get. But they have a rep, people are loyal to them because of that rep and will pay more if they have to. It's similar to the above example, they just want it and will pay for it. They all have a free choice. I'm glad they stick to those guys as they often miss other sellers better pricing :)
     
    Last edited: Mar 22, 2023
  6. Bigsweetc6

    Bigsweetc6 Forum Resident

    Location:
    East Los Angeles
    That was an anomaly. It’s never gone for anything close to that again in seven years. So it’s more reasonable to see that as the outlier and more recent sales as true examples. Aside from discogs I’ve traded and sold punk for over 25 years and have seen that sell or trade many times and never anywhere close to that. But I don’t want to get bogged down on this particular title. I’ve seen many other items on his sales page where he just finds the highest sold price ever and lists significantly over that price. As if everything he sells is the best version sold in the history of records. I own lots of records he’s sold and know what exactly what I paid and can say I was appalled. But obviously we disagree so I don’t think it’s worth it to keep going back and forth.
     
  7. Pali Gap

    Pali Gap Whiskey, mystics and men

    Location:
    Under the bridge
    Somebody in the In Groove’s auction today paid $271 for the Kevin Gray cut of Deep Purple Machine Head…?…I’m thoroughly baffled
     
    Quakerism likes this.
  8. Quakerism

    Quakerism Lean into what frightens you.

    Location:
    Rural Pennsylvania
    What specifically troubles you? That somebody would pay that much or that somebody would sell it for that much knowing it wasn’t worth a fraction of the sales price…..or both?
     
    mstoelk likes this.
  9. Pali Gap

    Pali Gap Whiskey, mystics and men

    Location:
    Under the bridge
    I already told you I don't blame sellers for buyer stupidity, so you have the answer already.
     
  10. Quakerism

    Quakerism Lean into what frightens you.

    Location:
    Rural Pennsylvania
    There’s no way to know if it’s actually buyer stupidity or shill bidding. Both occur.
     
    Lost In The Flood likes this.
  11. Pali Gap

    Pali Gap Whiskey, mystics and men

    Location:
    Under the bridge
    Even if your conspiracy theory was true, it's not a valid reason to pay $271 for a modern reissue of Machine Head.
     
  12. Quakerism

    Quakerism Lean into what frightens you.

    Location:
    Rural Pennsylvania
    So in your opinion, is it okay to influence the final price of an item with shill bids?
     
  13. 4-2-7

    4-2-7 Forum Resident

    Location:
    SF Peninsula
    Or a valid reason for a seller to actually go through with the transaction and take the buyers money at that price, he should just adjust it back to reality.
    Look Mike is ripping people off on records no matter where he's selling them, just like Tom Port.

    I've seen WTB threads here and the buyer saying they will pay X amount of dollars for a title that isn't worth the price they are willing to pay. I'll say I have it for them and give them a lower price that is the fair price and sell it to them. Hell one time I sent them two copies after lowering the price, they got the older issue they wanted plus a later reissue they can compare for SQ.

    Your losing when you stick up for a shyster.
    Mike exhibits bad Karma IMO

    In fact I have a title you're looking for in the WTB that your offer is a bit light as to a fair market price or at least for my sealed copy, I see this all the time also. Many buyers try to save a few dollars here because of the good graces of members on the site, you could easily get it from Mike, but you know his prices are always to high.
     
    Last edited: Mar 26, 2023
    caravan70 and Quakerism like this.
  14. Pali Gap

    Pali Gap Whiskey, mystics and men

    Location:
    Under the bridge
    Not sure why you keep bringing this up, you have no actual proof anyone is doing any shilling lol.
     
  15. Pali Gap

    Pali Gap Whiskey, mystics and men

    Location:
    Under the bridge
    If you're referring to my WTB ad for the Doors at the Aquarius 3Lp, I just bought a sealed copy for $90, patience often pays off and 'fair market value' is open for much debate.
    The fact that I found a copy cheaper than my offer price proves my offer was fair, even if you don't agree.
     
  16. Quakerism

    Quakerism Lean into what frightens you.

    Location:
    Rural Pennsylvania
    A little bit of effort and you will find shill bidding to be a problem on all online auction sites. Online auction sites - including the one discussed here - have policies directed at shill bidders. I’m just trying to understand your position.

    It seems like you are alright with driving up prices artificially and nefariously because
    some people are stupid?
     
    Lost In The Flood likes this.
  17. Pali Gap

    Pali Gap Whiskey, mystics and men

    Location:
    Under the bridge
    You have no proof Mike is driving up his own auction prices, give it up already!
    No one is forcing buyers to enter bids, we're all responsible for our own actions.
     
  18. eddiel

    eddiel Senior Member

    Location:
    Toronto, Canada
    I noticed that when we talk about auctions ending in high prices on here that it is inevitable that someone will accuse the seller of shill bidding. It's the only logical explanation for every high value auction. :)
     
    Pali Gap likes this.
  19. Quakerism

    Quakerism Lean into what frightens you.

    Location:
    Rural Pennsylvania
    I haven’t once accused Mike of anything. Go back and show me where I accused this man of anything. I don’t even know him or his business.

    I’m strictly talking about the idea of shill bidding online as a strategy to get a higher final price. Are you okay with it? All online auction sites have a problem with it and have to have something in place to at least claim they deal with it. It’s a simple question that apparently you won’t answer.
     
  20. Quakerism

    Quakerism Lean into what frightens you.

    Location:
    Rural Pennsylvania
    Stupidity is not the only logical explanation either. Just one of them.
     
  21. Quakerism

    Quakerism Lean into what frightens you.

    Location:
    Rural Pennsylvania
    Does Whatnot auctions allow the seller, his/her employees, relatives or agents to bid and increase bids on items? Or do they have a notice to bidders if this is permitted?
     
  22. 4-2-7

    4-2-7 Forum Resident

    Location:
    SF Peninsula
    Or fanboys from his YouTube channel.
     
  23. Pali Gap

    Pali Gap Whiskey, mystics and men

    Location:
    Under the bridge
  24. Quakerism

    Quakerism Lean into what frightens you.

    Location:
    Rural Pennsylvania
    I’m way ahead of you. Here is the policy or “suggestion” whatnot publishes….….

    You still have continued to avoid answering the question. Why?

    • No Shill Bidding: Shill bidding is defined as sellers or associated parties bidding on an item with the intent to inflate the item price, with no intent to purchase the item. Sellers and their employees cannot bid on their own items from separate accounts. Whatnot monitors all bids and transactions and your account will be banned if we find that you are suspected of shill bidding. Shill bidding may also violate laws in your state/country and result in severe penalties.”
     
  25. PalmBeachVinyl

    PalmBeachVinyl Active Member

    In Groove has been getting crazy high prices on stuff. Seems like anything he touches turns to gold.
     

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