Make me an offer: the eBay bid scam

Interesting article in the Times Online about bid scams on eBay.

The portly antiquities dealer was happy to divulge the secrets of his trade to the potential client who sat in the office of his Cambridgeshire farmhouse. Eftis Paraskevaides explained how to maximise the selling price on eBay, the world’s most popular internet auction site. * He advised: “You phone up a mate, and say can you please make an offer . . . that’s called shill bidding, and strictly speaking it’s illegal. It’s against eBay regulations.” Asked if many sellers used the tactic, he replied: “Of course they do. Come on! We’re in the real world here.” Paraskevaides is a man well versed in the techniques used to boost sales on the auction site. He claims to be Britain’s biggest eBay seller with an income of £1.4m a year. But he was unaware that the client he was trying to impress was in fact an undercover Sunday Times reporter investigating dealers on eBay. Our inquiries have established that Paraskevaides was one of a number of eBay sellers prepared to “shill bid” — to drive up prices by asking friends or associates to bid on their goods.

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About Kevin

Kevin Jarnot is a technologist who lives just South of Boston, MA. He is currently employed as Chief Technology Officer at DebtX, a financial services technology company based in Boston.
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