$40k TR. Not enough to get interest

Ouch. Well, for the record, I wouldn't trade ya.

 

If you have an offer at $45K, from an honest buyer, I think you go with that, especially considering that would have bought the car on eBay.

Your car may be worth slightly more, but at some point the cost of holding out for a few thousand bucks will be offset by the car developing a leak or something needing attention that will more than consume the higher price.

(Unless you don't need to sell the car, in which case pull it off eBay and test the waters again in six or 12 months.)

My two euros ...

Now I am confused.

 

Let me get this straight, You were frustrated that a White/White TR won't sell for $40k but decided to increase the price to $45k. Then when you have 2 offers for $45k you decide the B.I.N. price should be $50k. W O W !!

I have a friend looking for a TR. I don't think I will be forwarding your ebay link to him.

 

Actually you are being unethical......remind me to never do business with you.

 

Because you received 2 valid offers of an acceptable advertised price of $45K as a result of your ad and did not accept them due to seller's remorse. Pretty simple actually........and it seems more than one person here gets that.

 

Dear Ferraristi,

Drew, if you were willing to sell for 40K and got an offer for 45K....you should sell. Don't get greedy....

That's if you WANT to sell. You can't start a thread stating that you can't get 40K for your car and then with the exposure of the thread your offer gets bumped to 45K...now you want to hold out for more.

....bird in hand...my friend.

I do agree with the above posts...sorry.


Shamile

Freeze...Miami Vice !

 

My .02.... which is exactly what it is worth.

I can feel Drew's pain. The problem here is that people wanted to low ball him and not participate in the auction. What they are saying in contacting him out side the auction is this, "If you do not sell the car, which I will not bid on, I will take it off your hands for $40k." I am pretty sure that violates just about every rule of every auction I have ever seen. (And can get you banned from ebay.)

So I agree with him in the re-listing. And if they are really serious, $5k will not kill them and if it will, there are "more fish in the sea" for them to try to find. And it sounds to me like the two offers were not valid at all as it came from beyond the auction. I.e., people trying to get a deal but not wanting to risk a bid. (Could even be 419 scammers needing my attention. )

What I do not understand, if I am reading this right, is why people are giving him a hard time when it is clear that the gents offering $40k are simply trying to get a deal and not participate in the auction process. If they dont want to do that, contact any Ferrari Dealer and lots of luck.

 

I'm probably going to regret sticking my nose into this fray.......

But, regardless of how one may view Drew's behavior from an "ethics" standpoint, bear in mind that his hands were also "ethically" tied ---- according to Ebay's own policies, it is prohibited for sellers to accept "offers" that are not actual bids as long as the auction is still active. Granted, people violate this policy all the time, and who among us really gives a fat rat's ass about the well fare of Ebay, Inc. ?!

But, anyone who opens an Ebay account agrees to abide by their policies --- it is actually a legal contract --- albeit, impossible to police.

The only option then Drew had to satisfy both ends would have been to cancel the auction when he received the first offer of 45K (assuming he had not received any bids at or above his starting price of 40K, as Ebay won't allow seller to cancel at that point). But, as he said that offer is no guarantee of a sale.

For example, I just "purchased" a car (daily driver) that was advertised on AutoTrader --- I've made a verbal contract with the seller, we've agreed on the price, and we both have acknowledged that we trust each other and consider it a done deal. However, I don't pick the car up until next week, when we will trade cash for title in person. The seller is still running his for sale ad --- and, I don't blame him at all for doing so. No deal is a deal until the funds (at least a deposit) are received, or a written contract has been signed.

Would any of us do any different? Would you cancel your Ebay auction based on someone's email offer? If you would, you are an extremely trusting (and a bit of a naive) fellow.... Plus, Drew has paid the listing fee for the auction. Shouldn't he be entitled not to forfeit that by trusting the email offer MAY pan out who-knows-when later ?????

 

and yet another lovely example of ebay exotic purchases- Yippee

 

talk, talk, talk....

that is all the buy/sell dialog so far has been.

there is ZERO obligation between the buyer and seller until money changes hands. both the buyer and seller are free to change their minds or their asking prices until such time that money changes hands.

until money is exchanged - no breach of ethics has taken place. period.

its just talk, talk, talk....


Rgds,
Vincenzo

 

This has sure been a strange thread.

 

There are quite a few of them around here.

 

It's a dirty but common practice on ebay lately...many watch the auction, but everyone watching knows that once somebody bids the price is liable to go up....so nobody bids. Then near the end of the auctin, or just afterwards....emails come pouring in with people trying to buy the item for the opening bid amount. They usually say something like "I was out of town and missed the auction" or whatever. It's bullcrap! I recently listed a rare item on ebay, and had 27 watchers.....but nobody bid on it....and when it was over I was flooded with email offers! I told all of them that if they really wanted the item to participate in the auction - I will not sell it offline for a song and dance. I relisted it and eventually got a fair price, but it took a lot of effort and was very frustrating.

 

+1. I also am selling my other Ferrari on Ebay and it is amazing how many offers you get while nobody wants to bid. The funny thing is 99% of the offers are all ludicrous and from guys that don't even have the funds. I have bought around 40 cars on Ebay using the auction process and it has been great, but when you are selling, you encounter all kinds of situations like Drew has. Ebay is great for the exposure, which is why I use it for my sales, but it is not for everyone to say the least.

 

I think EBAY is a great way to sell and advertise and their results speak for themselves. Sure as a seller you have deal with some BS buyers but you could say the same thing for some sellers to which I think this listing shows. Not sure how you could never expect to sell it for 40K when you start a no reserve auction at that price and already realize that white/white (while I like) has it's on set of issues. You raised the price based on having firm offers but obviously they never were firm. Hey, it's your car to do what you want with and can ask any price but I will call this bad advertising.

 

To the extent your complaining about potential bidders, yes. Should I keep it? Should I sell it? Raise the price? Sellers remorse? To me no different than buyers waiting until the last min. and low balling.

Below was your quote not mine:

"I have a lot of people that want to come take a look at it and a ton of people that are trying to low ball me. two solid offers at 45k but I just relisted it again and put a by-it-now on there of 50k."

Drew, it's not my intent to have a fight about it, and I hope you get a good price for your nice Testarossa. I just don't think your approach to selling it is a very effective one.

 

To make this thread more about ME (and still stay mostly on topic), my auction ended yesterday without a winning bid. It got close to the reserve price, but didn't go over, so I sent out official "Second Chance Offers" to my highest bidders at my reserve price of $40k.

One of them is taking me up on it - he accepted the offer on Ebay, I retracted the others, and he's driving own from Seattle next weekend to inspect the car and close the deal. Ebay seems to be working just like it's supposed to.

Drew's right that the offers he got via private message are interesting but not binding. If they wanted to buy it at $45k, they have to enter in official bids. His juggling of the price from $40k to $45k also isn't unethical. He shouldn't have started the auction with a reserve lower than he'd take for the car, but he's totally allowed to fix that, and it doesn't break any ethics OR Ebay rules.

But Drew - you said earlier that you expected people to schedule their PPIs before the close of the auction? That seems like a bit much to ask, maybe. I normally ask for an immediate deposit, with the balance due after they satisfy themselves that the car is as described. It's funny - that's how I *bought* mine, but when I sold them my buyers just sent me the whole amount anyway, without getting an inspection. Crazy dudes.

But hey - bottom line, it looks like I just sold my car. For a very low price. Yay? Feels like I should celebrate...with a Milwaukee's Best, or something.