following article was posted by Jim on the old Prodigy Board
on January 9th, 1998
Collectors, regardless of what they collect, seem to enjoy
auctions. An auction will give those who are interested, an
opportunity to become aware of chips they probably never
have seen or heard of before.
Personally, I don't care for auctions. I was involved as a
young man with various coin and stamp auctions and saw first
hand behind the scenes what went on. What I saw was
manipulation of bids, collusion among bidders, fictitious
"winners", lies, never receiving the chip, no feedback to
the bidder, etc. etc. etc. Consequently this type of
behavior left me with a perception of auctions that I
Now, does this mean chip auctions are something we should
shy away from? The answer is "NO". I have not uncovered any
wrong doing or questionable action by any one person or
organization running an auction. I have heard complaints.
Some of them justified others not. I believe to always
insure the integrity of any auction the following conditions
should be met:
1. Any individual PARTICIPATING in an auction as a minimum
should be provided, upon request, a list of all winning
bidders. The name of the individual and the price paid for
the item. If an auction is being run properly, and an
individual has placed a bid, the bidding individual has
earned the right to know the results. I have talked to many
individuals who bid in auctions and receive no information
as to their bid. This discourages individuals from bidding
in the future and hurts the auction procedures. This baloney
about the "winner" wants to remain anonymous went out with
high button shoes!!
2. I have heard it said "this is my auction and I'll run it
the way I want too!" Fine, this is an individuals right.
However, if I as a bidder cannot find out WHO bought the
chip and what was paid than I would take a real hard look at
that auction. No one, if an auction is run above board,
should be concerned about informing the other bidders as to
who bought the chip and how much was paid. This is
fundamental to auction integrity.
For gosh sakes, our own little auctions here on Prodigy, we
know who got the piece and what was paid when the auction is
over. Why should any one worry about printing the name of
the winning bidder? No one is asking for their address or
phone number - just their name! From what I have seen, these
procedures are not followed in many of our chip auctions.
Generally it is because it takes a little more work to type
out the name of the "winning" bidder on the results sheet. I
would like to see in the future all individuals who run
auctions provide this information. I know it would make many
of the people I talk to more comfortable in participating;
and who knows I might even throw a bid or two out!!!