RK just took a careful look at rugrabbit.com's auction rules and conditions of sale, which are published on their website.
We found several interesting 'points' to discuss.
The first is nowhere does it state, or even infer, sellers or their accomplices are NOT allowed to bid on their own items.
As we wrote above, this type of bidding is called shill bidding, and the fact the rugrabbit.com auction does not mention, or forbid, shill bidding means to us it is allowed or at least condoned.
If that is the case, and it sure appears to be, RK suggests prospective bidders think carefully before entering into a situation which in our opinion is both devious and problematic.
After all, who wants to be run up by the seller of an item you might have interest in?
A second caveat RK found was rugrabbit.com's publishing of the 'bid history' five days after the auction closes.
Now why would this 5 day hiatus be applied?
Honestly, we have no answer, nor could we suggest one but we would counsel rugrabbit.com to make their sales genuinely transparent and have the name of the bidder posted with each bid so other bidders would be able to see exactly who they were bidding against before they bid.
The third thing we learned is the cost and fees to be a seller in the rugrabbit.com auction:
"The listing fee for each item is $36 USD. Additionally, you, the Seller, agree to pay five and a half percent (5.5 %) commission of the final auction price."
We think this expensive and since we examined most of the already complete auctions that resulted (allegedly so) in a sale and found the same few names of buyers, which coincidently matches almost name for name those who are sellers on rugrabbit.com, it appears the number of possible buyers is very, very small.
Were we looking to sell something at auction we would be hard pressed to pick rugrabbit.com.
Frankly we'd suggest Ebay to anyone who asked our opinion, as the sheer number of buyers there is far, far greater and naturally includes those rugrabbit.com names, who are actively searching Ebay as well.
Let's also remember RugKazbah.com's auction, which was no doubt the inspiration and model rugrabbit.com copied, let sellers post their items for free and only upon a successful sale was a 10 percent commission suggested.
Seems like far better deal to us; but then RK has warned rugDUMB about the sleazy, duplicitous business and personal ethics of sam the sham coad, now haven't we....caveat emptor