Beware Of This Seller On Ebay

[AnAmNeSiS]

The seller to watch here is ericowazamono.

 

He has had at least 3 items sell then show up again on his list as a "Buy It Now" option, at about 40% higher than what it was suppose to sell as.  Not to mention that all his auctions have private bidder listings for who bids on his items.  Here is an example:  

 

He sold this here:

http://www.ebay.com/itm/SUPERB-17th-C-SHINTO-KATANA-NORIYUKI-FULL-EDO-MOUNT-Japanese-Samurai-sword/272770427120?ssPageName=STRK%3AMEBIDX%3AIT&_trksid=p2055119.m1438.l2649

 

His relisting here

http://www.ebay.com/itm/17th-C-Japanese-SWORD-SHINTO-KATANA-034-NORIYUKI-NTHK-034-FULL-EDO-SAMURAI-MOUNTS-/272784163933?

 

Kinda shady if you ask me.  But you make up your own mind.  Just wanted to share what I noticed

 

Dave

[Brian]

Eric is well known, well respected, and I can tell you...a very educated Nihonto collector and dealer.
I have watched him "picking" at shows in the USA, and he knows all the major players. I think he deals at the higher end, and I don't think his items are cheap....ever. But I respect him for knowing his market and selling better stuff.
I wouldn't worry about much there. I think known buyers can negotiate with him, but you aren't dealing with a fly by night.
Chatted to him very briefly only once or twice..bet he doesn't even remember me. But he is quite the professional, and always seems to be rushing around and making deals.
That's all I can say. Everyone has their bad deals. I am sure some have various experiences. But think you can rest a bit easier.
Wish he would participate here, but having met him even briefly..he doesn't seem much of the "forum type"

Oh yes...fwiw...I think some sellers don't care a hoot about some of the accepted bidding practices. They know what they want, and don't care how it gets there. Irritates some, frustrates others. But it is what it is. Nothing implied here, but I have heard rumours about some sellers (maybe Eric too) who will shill to get to reserve, and tough luck. Like it or not, it happens.
 

[Stephen]

Common practice having bids taken to just under reserve. I ve done it for a friend, refuse to shill higher. nothing compared to what goes on in Japan on Yahoo.

[Alex A]

Aye, Ebays full of it, just accept it and don't pay over the odds.

[Grey Doffin]

When a knowledgeable dealer lists a piece on ebay with an inflated price he wants you to contact him so the 2 of you can agree to a price and he can save the ebay fees.  Shill bidding to protect reserve is the most likely explanation for the 1st sale not taking.

Grey

[Alex A]

I once heard a tale about a few guys getting warnings off Ebay for setting up deals outside Ebay.

 

Thought it was a myth................ until I got a warning  

 

Be careful, big brother is watching.

 

I would only mention deals outside ebay through a private email address, should you have one, that is.

[lonely panet]

Dave,

 

eric has very nice stuff.

 

put our self in his shoes, would you sell something for less then you paid for it ?

or let it got for less then the market price???

 

if you really want it make a offer??

don't forget ebay and paypal are crooks considering what they get in commission

 

PS, in what world do you think your going to get a papered, polished katana in papered koshirae for 3 grand  

[Vermithrax16]

I think Grey hit's the main point.

[AnAmNeSiS]

You all bring up good points and I can understand what you mean here.  Plus it is nice to see higher end items on the bay to purchase.  However, I think this way of doing business will hurt him or others who practice this, in the long run.  It would be better for them to just keep the "Buy it Option" with a "Make Offer" available, that way, they will not lose money in their investment.  But that is just me.  I won't know any of the sellers personally on the bay, so perception of how that (seller does business) is all I would be able to go on.  

 

Dave

[Michaelr]

Just me. If I were one of the 25 bidders and the auction went like it did I wouldn't be very happy. As far as I am concerned a Auction IS A Auction, not a fishing expedition, or a advertisement for sale. At a real auction after a second bid the item has to be sold in less it has a reserve.I have been involved in similar auctions and when this happens to me I just cross that dealer off my list. My feelings are if you want a certain price for a item, put a reserve on it. If you don't know what it's worth put a high reserve on it and see where it goes, BUT DONT take bids on a item, say it was sold and realist it for what you really wanted for it in the first place. I was just getting ready to bid on a very nice Wak on eBay from Japan with papers. It was the last day and the sword had only reached around $800.00 it started at one penny ( figured it to be worth around 1500.00 to me ) so at this point the dealer pulls it from the auction stating there was a misprint in the listing and realist the same exact listing with a buy it now for $5200.00. WHAT! Oh well nice guy or not, friend or not I don't deal with those type of people. I am sure that they don't miss my bid but over time a lot of me's egual less sales. Call it what you want and blow it off as " everyone does it" and " he is really a good guy " but if you want to be honest just list it with a reserve and see where it goes. Just my opinion.

 

MikeR

[lonely panet]

micheal, Ebay isnt a real auction.

 

it resembles nothing like a real acution, its a online progressive bidding process, where you cant handle any of the products and your completely at the mercy of there flimsy rules.

 

just like real auction houses, they will find ways to increase there prices with in the flimsy rules.

 

so everyone jump off there high horse's and accept that this is how ebay is run and its the way it will continue to be. because at the bottom line, the higher the price realised, the more ebay make....

[Ken-Hawaii]

 

When a knowledgeable dealer lists a piece on ebay with an inflated price he wants you to contact him so the 2 of you can agree to a price and he can save the ebay fees

Yup, that's Eric. I've dealt with him & his partner for many years...& not once via eBay, although I saw the items there first. Easy to deal with, & very fair.

 

Ken

 

[Tanto54]

Shill bidding is illegal (in most developed jurisdictions - including USA).

[Curran]

Shill bidding is illegal (in most developed jurisdictions - including USA).

 

That is what they told me too. I even took some professional exams about it back in the 1990s and early 00s,

but then some hacks wrote High Frequency Trading software that puts out hundreds of millions of shills a day on the stock market.

 

Illegal, but legal. 

It depends on who's asking, who's buying, and who's paying.

Personally I think it is illegal as robbery, but NYSE actually let them put servers inside the exchange so they have speed advantages.

 

If shilling pays the House, it is legal.

If not, then illegal.

[Gakusee]

Market manipulation is always illegal. Do not confuse high frequency trading with market manipulation.

[lonely panet]

this got educated quickly

[Curran]

Market manipulation is always illegal. Do not confuse high frequency trading with market manipulation.

 

Dude... HFT is a very broad term, but from early graybox contributions to the code to being a very minor part and witness of the legal chicanery that went into moving regulations and platforms around to make it legal-

   it is market manipulation on so many levels.

 

I just deleted a paragraph typed about it. It was meant as a joke in response to George's post- but digresses and distracts from the main point of the thread. We can take it to the Izakaya and I can spend more time on it when I return in a few weeks. I stand to be taught a lot on most topics, but this is one where I was there in the early to mid years and more than a little wish that I'd stayed than opting out.

[Gakusee]

Never late to rejoin us we always need good people.

[Curran]

Never late to rejoin us we always need good people.

PM w/ me. I'm gone for most of August, but totally up for re-joining.

I've been a small rogue independent trader for waaayyy too long. Tired of living on the outer-rim "Paradise" and would love to get back to Coruscant.

[Alex A]

I just wanted to add that I followed Greys advice a while ago and contacted Eric through his website http://www.owazamono.com/Home.html

 

I had been watching an item in his Ebay store.

 

I found Eric to be professional, friendly and open to reasonable offers.

 

Item arrived well packaged, on time and as described.