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eBay Naked Short Selling

ReynaldoReynaldo 6,054 Posts
edited March 2009 in Strut Central
A record that you want is listed for auction. To drive the price down you quickly start several other auctions for the same record using other accounts or a network of users/accounts. Make sure that the auctions end a little later than the real auction so that they can be canceled after the desired effect/outcome is created. People will bid lower on the first auction after seeing that the record is in greater availability than they previously believed, and you end up winning the record for less than you would have otherwise.Ok, yes, it's fraudulent and immoral, but could it work to a degree that makes it worth doing?

  Comments

  • catalistcatalist 1,373 Posts
    Go dig in the field. You're over thinking this shit.
  • inVrsinVrs 687 Posts
    soulstrut says: you sound poor.

  • ReynaldoReynaldo 6,054 Posts
    You both sound intellectually incurious.
  • mannybolonemannybolone Los Angeles, CA 15,025 Posts
    Evil genius idea. But that's a lot of trouble unless you're trying to save hundreds off the record.
  • catalistcatalist 1,373 Posts
    And it would only work if the record was pretty unknown to begin with... lot's of records are worth a certain amount because they are known to a larger amount of people, so even if a few others 'pop up' the people who know will not let that alter the amount they are willing to spend.

    I'm not really into spending lots on one record so I am fairly from the whole idea.
  • faux_rillzfaux_rillz 14,343 Posts
    A record that you want is listed for auction. To drive the price down you quickly start several other auctions for the same record using other accounts or a network of users/accounts. Make sure that the auctions end a little later than the real auction so that they can be canceled after the desired effect/outcome is created. People will bid lower on the first auction after seeing that the record is in greater availability than they previously believed, and you end up winning the record for less than you would have otherwise.

    Ok, yes, it's fraudulent and immoral, but could it work to a degree that makes it worth doing?

    In order to constitute short selling wouldn't you first have to obtain commitments from other collectors to purchase the record at the previously established market value, and then cop copies at the new lowered price in order to fulfill those commitments?
  • mannybolonemannybolone Los Angeles, CA 15,025 Posts
    I believe the "Ok, yes, it's fraudulent" clause addresses your question.
  • kitchenknightkitchenknight 4,922 Posts
    But that's a lot of trouble unless you're trying to save hundreds off the record.

    Waaaaaaay too much effort.
  • RockadelicRockadelic Out Digging 13,993 Posts
    Rey.....how about this.....

    Since you're setting up bogus accounts anyway, just throw a ridiculously high bid on the item and don't pay.....after you do this 2-3 times the seller will be so tired of listing the item they will take your offer of a discounted price just to be done with the damn thing.

    I'm pretty sure this is the French Boogie strategy.
  • ReynaldoReynaldo 6,054 Posts
    A record that you want is listed for auction. To drive the price down you quickly start several other auctions for the same record using other accounts or a network of users/accounts. Make sure that the auctions end a little later than the real auction so that they can be canceled after the desired effect/outcome is created. People will bid lower on the first auction after seeing that the record is in greater availability than they previously believed, and you end up winning the record for less than you would have otherwise.

    Ok, yes, it's fraudulent and immoral, but could it work to a degree that makes it worth doing?

    In order to constitute short selling wouldn't you first have to obtain commitments from other collectors to purchase the record at the previously established market value, and then cop copies at the new lowered price in order to fulfill those commitments?
    Yes, for short selling. The naked part is where one doesn't actually secure the item first, and doesn't intend to ever deliver, and is only selling to flood the market and drive the price down.
  • ReynaldoReynaldo 6,054 Posts
    But that's a lot of trouble unless you're trying to save hundreds off the record.

    Waaaaaaay too much effort.
    It could be automated.
  • DeegreezDeegreez 804 Posts
    Sunday ethics, with soulstrut.

    It's wrong dude. You sound like Randolph and Mortimer Duke. You must really want that record to make that kind of effort. I fear bad karma too much to do this.
  • FrankFrank 2,379 Posts
    That's really a great idea.
    There's not enough bullshit happening on ebay as it is so your strategy would add a little more suspense and excitement to the game.

    This should earn you the "Honorary Frenchman Of The Week"-award!

    I'm sitting on all this vinyl and should really start selling stuff but to me ebay seems so fukked right now with all that "no neg. feedback for buyers" and paypal-chargeback bullshit, I guess I'm going to keep sitting on my stash, pricing everything pre-recession popsike and wait for the next WFMU fair.
  • GnarliamentGnarliament 375 Posts
    here is a strategy:

    1. Work hard. You must be getting payed for this work. That is key!
    2. put said pay towards expensive ebay record.
    3. Success!
  • indiana45sindiana45s 266 Posts
    This definitely sounds like a dumb idea. I know from experience that a lot of bidders lock in on one item and never search for it again. If the bidders are unaware other listings exist, the effort will be wasted.

    Has anyone ever tried to corner the market on a certain record by buying up every copy?
  • ReynaldoReynaldo 6,054 Posts
    I know from experience that a lot of bidders lock in on one item and never search for it again. If the bidders are unaware other listings exist, the effort will be wasted.
    If the other listings are listed quickly enough after the first they will all pop up on a single search (or saved search, or RSS feed update), at which time the searcher will be made aware of the existence of the other listings.
  • breadwinnerbreadwinner 535 Posts
    [quote
    Has anyone ever tried to corner the market on a certain record by buying up every copy?
    I'm working on a 'project' right now. I had two copies of this record that really no one knew / knows and I was planning to take that shit to soul-source with a "taking offers' type thing. As I am getting prepared to do so, a copy of said record pops up on ebay -- poorly listed, no sound clip -- luckily, I am able to grab it for about $10.
  • Jonny_PaycheckJonny_Paycheck 17,825 Posts
    Yeah, people do that kind of thing all the time. I've done it before.

    I totally thought this thread was going to be about Reynaldo lamping at the compound au natural while purchasing summer wears.
  • HorseleechHorseleech 3,830 Posts
    Good to know there's people out there thinking hard about ways to make ebay (and the world) worse places than they already are so they can serve their self-interest.

    Way to go, bro.
  • spelunkspelunk 3,400 Posts
    bro.
  • ReynaldoReynaldo 6,054 Posts
    Good to know there's people out there thinking hard about ways to make ebay (and the world) worse places than they already are so they can serve their self-interest.

    Way to go, bro.
    This is just the beginning...

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