| Author |
Message |
Jon P. Kofod (95f355c)
Member
Username: 95f355c
Post Number: 846
Registered: 8-2001
| | Posted on Saturday, August 02, 2003 - 11:46 pm: | |
Wouldn't short it either (don't take this as investment advice please!).
I bought it at 33 something for wife and my clients. Sold out at 88 for my clients and 97 for my wife's account. Been as high as 117.
From a personal standpoint I think ebay is great. It's the only internet stock other than AOL that I have ever owned of puchased for my clients.
I think Ebay goes through cylces of "good buying markets" and "good selling markets". Between 2000 and 2001 I sold stuff that I never thought I would ever get anything for.
Most of it was car stuff I had stored for years. A set of Dunlop M2 D40 tires (2 tires) which were out of production netted me nearly $200 (would have been happy to get $50).
I got somewhere between 60-70% of new cost for things like my leather 355 seats, stock wheels w/tires, rear factory grill etc.
I also sold my grandmother's 1962 Cadillac Fleetwood 60 Special. Car had original 22,000 miles and was appriased by several car collectors at 5-7K (not a rare model). I was stunned when to people got into a bidding war in the last two hours and bid the car up to nearly $12,000.
I think the reverse is true today. Buyers are getting the good deals as a slow economy is forcing people to sell of their toys. Ferrari dealers still think they can get 95K for a low mileage 355 GTB but they aren't even selling on Ebay for anything over 80K.
Still a good stock but it depends on what you bought it for.
regards,
Jon P. Kofod
1995 F355 Challenge #23
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Gary Reed (Gary_reed)
Junior Member
Username: Gary_reed
Post Number: 141
Registered: 2-2002
| | Posted on Saturday, August 02, 2003 - 10:56 pm: | |
Sean, I agree! I LOVE eBay! I've been a member since 1998 and bought some stock that same year. It's been one of my few internet stocks that is still in the black. In the past year eBay stock price -doubled- in price.I'm glad they are splitting it soon. I'm letting it ride... it's part of my SEP. |
Sean F (Agracer)
Member
Username: Agracer
Post Number: 304
Registered: 2-2003
| | Posted on Saturday, August 02, 2003 - 9:48 pm: | |
I wouldn't short it either. Their profits have increased EVERY quarter for the last 4-5, and each increase is larger than the next.
EBAY is almost as common a word as Coke and O.K. in the world.
I'll bring it up in a year when, after it splits, it's back at $100.
E-Bay is the next Wal-Mart, but with no overhead or inventory.
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acw (Acw)
Junior Member
Username: Acw
Post Number: 156
Registered: 2-2002
| | Posted on Saturday, August 02, 2003 - 7:41 pm: | |
Dave, that the beauty of EBAY. They built the whole system such as they don't have *any* liability about transactions.
I would not short EBAY. They are #1 in their field. I would not buy either, but that another story.
ACW |
Jay Grande (Jay)
Intermediate Member
Username: Jay
Post Number: 1462
Registered: 10-2001
| | Posted on Saturday, August 02, 2003 - 7:01 pm: | |
I sold my last car on ebay for over $9000 US with no problems. I also have over 200 transactions on ebay. I can count on one hand the amount of non-paying bidders and scam artists. Know who you are dealing with. |
Robert McNair (Rrm)
Member
Username: Rrm
Post Number: 597
Registered: 5-2002
| | Posted on Saturday, August 02, 2003 - 3:37 pm: | |
Like Brian said the company is splitting the stock soon so I would hold off on shorting it. Shorting stocks is VERY risky. |
rich stephens (Dino2400)
Member
Username: Dino2400
Post Number: 457
Registered: 10-2001
| | Posted on Saturday, August 02, 2003 - 3:20 pm: | |
Like any business that grows quickly, their customer service sucks. The actually do have hundreds of employees to investigate misuse but as we saw in the case of a seller listing someone else's car for sale and then asking for a $5k deposit, they can't do anything. There is a guy who sells Fiat Spiders on Ebay. In many cases, we know the actual car he is selling and have shown ebay real photos to compare to his airbrushed ones and shown ebay real odometer readings to compare to his fake information. He runs the auctions as private so we can't warn bidders. He then sets a high reserve so that the auction will never reach the reserve and he won't owe ebay final fees and the buyer won't be able to leave feedback. He then shills the bids up really high, contacts the real bidders and says "the car bid up to $9k but the top bidder has backed out, would you like to make a deal privately?" Everytime he lists a car (under changing user ids but always the same text and geographical area and its obviously the same guy), a dozen or so of us Fiat enthusiasts will email ebay to tell them what is going on. Nothing ever happens.
Having said that, I've bought a car on ebay and sold a car on ebay and have over 125 other transactions as both buyer and seller and have personally had no real problems. I'm certainly glad it exists. |
Brian W (Jetx)
Junior Member
Username: Jetx
Post Number: 67
Registered: 6-2003
| | Posted on Saturday, August 02, 2003 - 2:45 pm: | |
>>Ebay at over a $100 a share<<
Not for long...they announced a 2-1 split a few weeks ago |
wayne skiles (Bad_tt)
New member
Username: Bad_tt
Post Number: 33
Registered: 8-2002
| | Posted on Saturday, August 02, 2003 - 1:06 pm: | |
perfect example now is 87 Testa rossa that in the listing seller says 30000 mile inspection complete and Pre purchase inspection done.and available for fax or email.
I emailed him asked for both no reply. I sent another email saying obviously there is something wrong with the inspection/service or the car or both!
NO ANSWER. The next bid meets his reserve..beware with 29000 miles on car beware. |
dave handa (Davehanda)
Intermediate Member
Username: Davehanda
Post Number: 1453
Registered: 5-2001
| | Posted on Saturday, August 02, 2003 - 12:03 pm: | |
I have purchased and sold a number of small dollar items (under $200) on Ebay. I have had no bad experiences myself. But I have spoken to a couple of larger "Ebayers" that do LOT's of transactions per week. They say the amount of fraud, "no pay" and basic "dead beats" is staggering and begining to pull Ebay down.
ebay's lack of action is starting to cause businesses to assess whether doing business on Ebay is really worth it. While Ebay is still the Wall Street darling, once reality hits, they predict that the stock will take a heavy toll. They too, felt shorting the stock was a good idea. Me? I am WAY too risk averse to attempt it... :-)
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Dr. I. M. Ibrahim (Coachi)
Member
Username: Coachi
Post Number: 330
Registered: 5-2002
| | Posted on Saturday, August 02, 2003 - 8:54 am: | |
In my opinion, when it comes to buying cars via EBay, the best way is to contact the seller and let him know you're interested. Find out who he is, check him out. Most use EBay as an advertisement for their cars since most do not sell due to the reserve not being met. They pay 40 bucks for the listing. When the car does not sell, they do not pay and sellers' commissions. I have bought two Rolex watchex off EBay but no cars....yet. I made sure I knew who was selling the watch (for the most part a dealer) then checked them out. The feedback is usually not good enough. I did not win either of the auctions for the two watches but I got in touch with the sellers. On a third occasion, I won another watch auction, at a ridiculously low price. I tried to get in touch with the seller, but then, he never answered. I kept my money. EBay complained to me, and I informed them it was a scam. They never mentioned the transaction again. You don't have to bid and when the seller agrees to a price, fly to his place of business and see the car, study the titles, make sure everything is in order before forking over ANY money. Buyer Beware. EBay is there for EBay only. The shareholders will soon dump some of their stock at this incredible price.
Shorting a stock is selling a stock you don't own, yet. Your broker borrows it from another account and sells it for you. When the price goes down to your satisfaction and you're ready to return the borrowed shares that you have sold, you simply "cover" your short by buying at the lower price, and you pocket the difference. Again, fortunes have been made shorting at the right time and fortunes lost shorting at the wrong time. Not a game for those weak at heart. |
Ernesto (T88power)
Intermediate Member
Username: T88power
Post Number: 1641
Registered: 2-2001
| | Posted on Saturday, August 02, 2003 - 8:48 am: | |
Why would eBay be responsible for any sale on its website? Would your local newspaper be responsible for a scam you fell for from one of its classified ads? It's the buyer's responsibility to do his due diligence and make sure the seller is legit.
I sold my car on eBay, and it went pretty smoothly. The buyer contacted me, came by, drove the car, liked it, and bought it.
Ernesto |
Jeffrey Robbins (Teachdna)
Junior Member
Username: Teachdna
Post Number: 118
Registered: 9-2001
| | Posted on Saturday, August 02, 2003 - 6:45 am: | |
I've bought and sold many things on Ebay and there are lots of good people that use it. But you're absolutely right: Ebay has a very "hands-off" policy when things begin to go sour and refuses to get involved.
Their attitude is they created the market but it's up to the users to enforce and police it. They will do almost nothing. My only quarrel with Ebay is when they attempt to trumpet their �Fraud Protection.� My 15 year old learned an important lesson when he was defrauded out of a $40 item on Ebay and for that I am grateful.
So the long and the short of it is that you've got to use your head, know how to protect yourself and if the deal smells sour in any way, shape or form, don't let greed or enthusiasm get the better of you and just WALK AWAY. Oftentimes a bunch of good feedback is not sufficient- you have to track down where that feedback came from, how it sounds and what kinds of items the seller/buyer dealt with.
A perfect example with a couple of current auctions�. I'm in the market (possibly) for some Ferrari luggage. About a week ago an auction for some gets started with a listing price of $1300 (Item 2425449857).
http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&category=42606&item=2425449857
3 days later another set comes on with exactly the same pictures and wording with a starting bid much lower (Item 2425904357).
http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&category=42606&item=2425904357
Now, it could be that the second seller was simply too friggin lazy to make up an advert. But looking at the wording of the first ad, it's ridiculous for the second person to have lifted it word for word. Am I going to bid on the second item? NO WAY. Am I possibly losing a great deal? Maybe. But the seller will only accept money order or cashiers check so here I am, in the position of sending money to someone who started the transaction by stealing someone else's ad. Caveat emptor. |
Andrew-Phillip Goalen (Andrewg)
Junior Member
Username: Andrewg
Post Number: 250
Registered: 9-2002
| | Posted on Saturday, August 02, 2003 - 4:57 am: | |
Dave,
E-bay will give you the phone number, but only if they have it, however they don't check the numbers given.
As always with e-Bay pay cash use a reputable escro and most of all use your head |
MarkPDX (Markpdx)
Junior Member
Username: Markpdx
Post Number: 152
Registered: 4-2003
| | Posted on Saturday, August 02, 2003 - 2:04 am: | |
Dr. S
Borrow a stock and sell it. Hope it goes down so you can buy it back at a lower price and keep the $ difference. If it goes up you are screwed.
Dave
In my opinion it would be a mistake to judge eBay motors based on just one bad experience bidding on a Ferrari. Check out this article from the Wall Street Journal to get a better idea what their business is like.
As I mentioned in your other thread Wayne Mello of Pulp Racing fame got his F360 off eBay Motors. Check out the story. He ran carfax, he called the dealer to get info on the car, and in the end he got a good deal |
Drstranglove (Drstranglove)
Member
Username: Drstranglove
Post Number: 766
Registered: 4-2003
| | Posted on Saturday, August 02, 2003 - 1:48 am: | |
I must confess that I do not know what it means to "short" a stock.
DrS |
"The Dave" (Sparetireless)
Junior Member
Username: Sparetireless
Post Number: 136
Registered: 1-2003
| | Posted on Saturday, August 02, 2003 - 1:27 am: | |
I just completed an auction on ebay where I was the "winner" of a 360 coupe. The "owner" refused to give his phone number and kept insisting on a $10,ooo deposit to make it worth his while. Smelled like a scam especially when the first owner of the car sent me a note saying his car with same color and vin was sold into a florida dealer a year ago with the same mileage as the car on ebay has. (same vin) Long story short, the auctions on ebay are totally un-enforceable and ebay will not cough a phone number and they claim they will protect everyone in the spirit of "confidentiality". Ebay at over a $100 a share, short it now and thank me later. Lets talk again in a year about how much you can make shorting this stock. What a bunch of losers. I am sure there are some good people selling/buying on ebay, but when the going gets rough, count on ebay to leave you high and dry and leave you totally on your own. Fortunately I did not send the deposit. |