This 355 auction is bloody risky! 7K with no reserve!!

[here]

Just imagin if it did sell for less than 10 grand. http://cgi.ebay.co.uk/FERRARI-355-SPIDER-1997-39K-...

[MonkeyBusiness]

Its got the good old "I HAVE RIGHT TO END AUCTION EARLY AS THIS CAR IS ADVERTISED ELSE WHERE"

In other words, if it doesn't look like its going to make what the owner wants, he will end the auction early.

[ThatPhilBrettGuy]

He'll pull the ad just before it goes wonky.

Ooopp too slow

Edited by ThatPhilBrettGuy on Sunday 2nd November 09:48

[touching cloth]

Not really, he'll either bid it up to protect himself or simply refuse to sell it if it doesn't make the right money.. doesn't look like he is too worried about negative feedback.

[Catherine197]

Blimey, asuming it's genuine the seller must be very desperate.

[touching cloth]

Or indeed pull that auction as per others suggestions (although that always seems crazy to me as there could be someone who is just waiting to bid with a nice fat bid but won't place it till the last minute)

[here]

touching cloth said:

someone who is just waiting to bid with a nice fat bid but won't place it till the last minute)

Does Ebay work like that? I thought it worksd like this. Say the highest bidder has bid 10k and some one at the last minute chucks in a 20K bid. the car will be bought at £10,100 and not £20,000.
Am i right or wrong about that??

[sportivo3.5]

His feedback isn't too good.
I would tread carefully.

[LittleBro]

here said:

touching cloth said:

someone who is just waiting to bid with a nice fat bid but won't place it till the last minute)

Does Ebay work like that? I thought it worksd like this. Say the highest bidder has bid 10k and some one at the last minute chucks in a 20K bid. the car will be bought at £10,100 and not £20,000.
Am i right or wrong about that??

You're correct.

[ATM]

But what fees do ebay charge based on final sale price? A lot of deals are done on ebay with emailed bids as these bypass the final fee. Although you are not allowed to say so in the ad so some people include wording along the lines of - if you email me with it buy it now offers I will not consider these in line with ebay rules - which I read to mean go ahead and send me your bids. I sold some wheels on ebay recently for £900 and it cost me £50 in fees. So if the guy in question had sent me a buy it now offer of £850 he would have saved himself £50.

[Deva Link]

He can't be forced to sell anyway even if the "auction" (eBay is not legally an auction) completes.

[touching cloth]

LittleBro said:

here said:

touching cloth said:

someone who is just waiting to bid with a nice fat bid but won't place it till the last minute)

Does Ebay work like that? I thought it worksd like this. Say the highest bidder has bid 10k and some one at the last minute chucks in a 20K bid. the car will be bought at £10,100 and not £20,000.
Am i right or wrong about that??

You're correct.

Alright, 2 people then. The fact is a lot of people do hold off until the last minute so you will never really know the true potential outcome until it physically closes - also just because it is sitting at 10k with minutes to go, does not mean the the person winning at 10k hasn't already bid to a max of say 25k - hence you need just one bidder who has yet to bid, to rock up and the price can shoot up right at the end.

[Stedman]

Ebay bloke said:

A NEW TRACKER IS FITTED TO THIS VECHILCE AND WILL BE REGISTERED TO THE NEW OWNER WITH 1 YEARS MEMBERSHIP PAID FOR INCLUDED IN THE SALE

[theRossatron]

Deva Link said:

He can't be forced to sell anyway even if the "auction" (eBay is not legally an auction) completes.

Are you sure that's true?

[Deva Link]

theRossatron said:

Deva Link said:

He can't be forced to sell anyway even if the "auction" (eBay is not legally an auction) completes.

Are you sure that's true?

Which part?

[here]

Something fishy going on here i think. 9 days left and its at 29K. Seller bidding the car up i recon. Reading Ferrarichat some one else has posted about this seller and he ripped of someone with a 348. Its an interesting read. http://www.ferrarichat.com/forum/showthread.php?t=...http://www.ferrarichat.com/forum/showthread.php?t=...

[sjn2004]

touching cloth said:

Or indeed pull that auction as per others suggestions (although that always seems crazy to me as there could be someone who is just waiting to bid with a nice fat bid but won't place it till the last minute)

If you look at collectables quite often they rocket in price in the last 30 seconds.

[Deva Link]

sjn2004 said:

touching cloth said:

Or indeed pull that auction as per others suggestions (although that always seems crazy to me as there could be someone who is just waiting to bid with a nice fat bid but won't place it till the last minute)

If you look at collectables quite often they rocket in price in the last 30 seconds.

The process in bonkers in some ways - I would never bid on an eBay item until the last moment, it just seems pointless to do anything else.

I've thought that they could keep extending the auction by 5mins beyond the latest bid (as happens for some online business auctions) but I guess then that without the hard stop many people (probably myself included) simply wouldn't bother to bid at all.

[theRossatron]

Deva Link said:

theRossatron said:

Deva Link said:

He can't be forced to sell anyway even if the "auction" (eBay is not legally an auction) completes.

Are you sure that's true?

Which part?

I thought all ebay auctions were technically legally binding.

[Deva Link]

theRossatron said:

Deva Link said:

theRossatron said:

Deva Link said:

He can't be forced to sell anyway even if the "auction" (eBay is not legally an auction) completes.

Are you sure that's true?

Which part?

I thought all ebay auctions were technically legally binding.

Lot's of people *think* that, but I'm not aware it's ever been tested.

And even eBay say they're not an auction - to be an auction under the 18 hundred and something auction act, there has to be a man with a gavel.

ETA:

eBay said:

UK user agreement, item 3:

"3 eBay is Only a Venue.

3.1 eBay is not an auctioneer. Although we are commonly referred to as an online auction web site it is important to realise that we are not a traditional auctioneer. Instead, the Site acts as a venue which allows registered users to offer, sell, and buy just about anything which is legal, at any time, from anywhere, in a variety of price formats. We do not review listings provided by users, we never possess the items offered through the Site and we are not involved in transactions between buyers and sellers. As a result, we have no control over the quality, safety or legality of the items listed, the truth or accuracy of the listings, the ability of sellers to sell items or the ability of buyers to pay for items. Do not assume that the offer, sale, purchase, export or import of any item is valid and legal simply because it is listed on the Site. We are not responsible for ensuring that buyers and sellers actually complete a transaction. You accept sole responsibility for the legality of your actions under laws applying to you."

Edited by Deva Link on Monday 3rd November 15:35