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Q. What is fictitious bidding and what are the consequences? - Printable Version

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Q. What is fictitious bidding and what are the consequences? - forumuser - 24-01-2015

What is fictitious bidding and what are the consequences?


RE: Q. What is fictitious bidding and what are the consequences? - admin - 24-01-2015

Bidding in an auction must be made with a real, genuine and sincere intention to purchase the item from the seller for the amount of the bid. Placing a bid in an auction without such intention is regarded as fictitious bidding. Fictitious bidding, in particularly where as a result the price in the auction is "pumped up" for the other bidders in the auction (also known as Shill-Bidding), is strictly prohibited. Bido is constantly running regressions to find correlations between bidders and sellers, and where Bido has reasons to believe that fictitious bidding was involved, both seller's and bidder's accounts are suspended. Bido also reserves the right to cancel such auctions, where it could be determined that fictitious bidding was involved. In case your account was suspended, and you think this is a mistake, please contact support to get this cleared.