Nothing like starting a Ferrari Ebay auction at $1 and having a reserve......

Disagree.

if they had started the bidding at 40K, 50K, or 60K,... would you have taken notice? Would you have posted?

It's smart marketing / advertising.

 

I agree. I certainly don't think it's anything to be "ashamed of".

 

That's the whole idea of the auction process though. It really doesn't matter where you start it below the reserve. Nothing below reserve buys it anyway. (At least not during the auction.) After the item has been on there for a while, the bidding will be bid up a little (naturally have more bids the lower you start it) which will create added attention due to the number of bids placed on the item. At that point, it doesn't matter where it started. People see the number of bids and figure it must be a better and more sought after item compared to those with fewer bids. That goes for any item I've ever sold on ebay, not just cars.

 

Would it be different if they pushed it at Barrett-Jackson or RM? Those auctions also start at some number, and the reserve is set at some undisclosed higher price. Except this is eBay, I don't see the difference. Or are Ferrari dealers not supposed to send their cars to auction?

 

Theres no such thing as bad publicity

 

basically

"MADE YA LOOK!"

 

eh I agree, no big deal. I've started auctions on items at $1 just to keep the listing price down if I know it's going to sell for a good amount (based on other similar listings)

 

Exactly, made me check it out

 

I guess I don't understand the problem either. Did you really think it would sell for $1 with no reserve? The starting bid has to start somewhere, why should they put it closer to the reserve. It's pretty simple, if you want to buy it, put in your bid for what you are willing to pay and be done with it. Better yet use a sniping tool and try to actually win the auction. Either way I don't see what the starting bid has to do with anything.

 

Wow, that's a beautiful car in triple black.

I wouldn't have expected it to go for $1 anyway, so I knew it was a gimmick from the outset.

 

I always start at $1 but no reserve. I get a fair price. By definition. With huge feed back, good ad copy, what I sell for at $1 with no reserve is EXACTLY the market price, whether I like it or not.

 

What is market on a slightly used Foley cath?

 

+1

I've also done this, and had pretty good results. When there is a no reserver auction, people bid because they know their bids could/will buy them a car.

It'd be interesting to know how many cars Ferrari of Seattle has actually sold on Ebay. My money is on few, if any. When people know something is priced ahead of the mkt, ie, the reserve is so high the item will not sell (as this one almost certainly is) it can have a chiling effect on bids. Why bid if you know the car is over-priced and will not sell to begin with?

 

I don't see the issue.The serious buyer needs to meet the reserve.

 

the buyer of that car is gonna want a price first. They'll figure if a Ferrari dealership has it, it has to be worth more. But no one will "volunteer" a higher price than they can buy that same car for any place else without first havin' a price "given" to them.

I may be proved wrong.

 

Well, they really are only selling a very nice used car.

 

Well isn't it a used car??? They like most dealers are using Ebay for advertisement purposes. If I were dealer I would do the same, hopefully when people check this car out they will also look at the other cars that were for sale.

 

Under my country's consumer protection laws a licensed car dealer has a minimum warranty on all cars sold from his business.
Notice the add says no warranty specifically as is.
Is there more legal protection buying this from their show room than through ebay?
If the wheels fall off 50 feet down the road, how do you stand in the US?

 

depends who used it, and for how long....

 

On 2 feet, cell phone at your ear, looking in disgust at YOUR car with no wheels...

 

Interesting. Mileage and provenance is key!

 

I thought the Barrett-Jackson auction (at least the big one in Arizona) was a no reserve auction. I remember seeing a few times on TV where there were issues with forcing a seller to comply with the sale of the car as it went for way less than he thought. Had to forcibly pull the guy out of 'his' car.

 

Just put a bid in for what you would pay for it...the reserve is higher (cross fingers)...and there you go $1 no more.

Their plan has been foiled