How To: Win an eBay Auction (by cheating)
We are going to let you in on a little technique called “bid withdrawal” . . . a loophole those in-the-know have been exploiting since eBay’s beginning. Here’s how it works:
- Choose an item to bid on that has no bids and no reserve price. Make your first bid $1000 (it will only show at whatever the opening bid is, which could be as little as $0.01)
- Use a friend’s account (or a fodder account) to make a second bid for $990. You will automatically become the highest bidder at $995
- Seconds before the end of the auction, withdraw your friend’s bid, and the final selling price will revert to the opening bid. When the auction ends, as long as nobody has sniped you, the seller will be obligated to sell to you at this lower price . . . Sucker!
Obviously you’ll want to adjust these figures to just slightly above fair-market-value for the item you are bidding on, or just high enough to keep others from bidding. If you drive an item’s price up to $995 that is only worth $50, the seller is likely to cancel your bid or the auction entirely.
