Wow, quick auction. Must not have been much there today.....
(Topic ID: 154655)
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I still remember the first time I realized that buy backs were occurring (maybe 15 years ago). There were these 4 people bidding this game (TAF) up over and over again, one of them was Royce Green, his grandson, his wife(?) and another Green Coin employee. I thought they didn't realize that they were all bidding on the same pinball and I was laughing about it. After I was outbid, Royce asked me what I really wanted to pay for it.................................. DUH. Then I remember Rick P. (RIP) telling me years later how he banned Royce from the auctions for a number of years because of back door sales. Today, its just accepted if you want to have an auction with 300-750 lots.
Quoted from Damonator:You are correct - it's when the seller buys back his own pin. Buying it back via bidding allows him to bid a potential buyer up to his reserve...whereas a reserve would simply not be met when the last bidder outbid the other legitimate bidders. Buy backs suck, but so does losing a lot of money as a seller if there is a small turnout for the auction. I can see both sides of it.
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