'98 550 with 26k miles - $58k

someone got a heck of a deal:

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=150624855224&ssPageName=STRK:MEWAX:IT

 

I agree. I was expecting someone to Nipbid. Didn't happen.

A good deal but not far off the market.

I would vote the 550 as a best buy in used Ferraris now.

 

Amazing price for a (hopefully) story free car. Wonder if the buyer is on FChat?

 

That's literally 20k above a V8 Maserati Coupe.

If that was the market I would hold out for the 550.

 

At first I was expected to see a beater, but this car is actually very nice. I clicked on the records attachement in the ad, and an impressive record of service (crazy prices for some of the repairs, but the records appear to be all there).

Looks like an excellent purchase.

 

Brad, I'm inclined to say this is below par on market price, even though it is not the most exciting of color combinations on a 550 imho. Price would be about right for the type of sale chosen by the PO.

This happens sometimes with Ebay cars, a slightly desperate seller sets a low or even no reserve price, it's on the market very briefly and it's risky to the buyer. Such deals come by every once in a while but they are rare, you have to know what you bid for and be fast.
Someone had a good day yesterday.

 

I suspect the high bidder is another dealer. If you look at the winner's bid history, you'll see he's been busy bidding on exotics. If this is the case, it will be interesting to see what the asking price is when the car resurfaces.

30-Day Bid History
Category No. of Bids Seller Help Last Bid Help
eBay Motors > Ferrari 1 Seller 1 7d 3h
eBay Motors > Ferrari 2 Seller 2 2d 19h
eBay Motors > Mercedes-Benz 2 Seller 3 6d 10h
eBay Motors > BMW 3 Seller 4 2d 4h
eBay Motors > Aston Martin 6 Seller 5 3d 5h
eBay Motors > Audi 4 Seller 3 <1h
eBay Motors > Lamborghini 3 Seller 6 6d 22h
eBay Motors > Maserati 1 Seller 7 <1h
eBay Motors > Ferrari 1 Seller 2 4d 12h
eBay Motors > Porsche 1 Seller 8 4d 4h
eBay Motors > Porsche 5 Seller 9 7d 22h

 

Here's a baseless speculation: there's an outside chance the seller and buyer know each other; perhaps they had an understanding that would keep the car from going to an actual buyer if the price were below a certain level, i.e., the "buyer" might have played the role of a "hidden" reserve price in the face of a weak ebay market. In a few weeks, they may try again and see if a stronger individual legit bidder comes by.

 

This would essentially be shill bidding... You could try see if this bidder and seller have other items where they have been bitting on each other's items.
Jes

 

I doubt the winner was a shill bidder. Notice he has not bid on this particular seller's item in the past 30 days.

However, there is another bidder with suspicious bids. Bidder S***s bid twice: once for $54,900 and another time for $57,900. Placing a bid just under a round figure is a tell-tale sign of someone trying to drive up the current bid.

Bidder Click here to know more about anonymous user IDs Bid Amount Bid Time
Member Id: 7***7 ( 111Feedback score is 100 to 499) US $58,200.00
Jun-29-11 15:24:44 PDT

Member Id: o***l ( 15Feedback score is 10 to 49) US $58,100.00
Jul-06-11 18:23:35 PDT

Member Id: s***s ( 123Feedback score is 100 to 499) US $57,900.00
Jul-06-11 18:19:14 PDT

Member Id: o***l ( 15Feedback score is 10 to 49) US $57,000.00
Jul-06-11 18:17:44 PDT

Member Id: o***l ( 15Feedback score is 10 to 49) US $56,000.00
Jul-06-11 18:17:16 PDT

Member Id: s***s ( 123Feedback score is 100 to 499) US $54,900.00
Jul-01-11 09:10:03 PDT

Starting Price US $50,000.00
Jun-26-11 19:00:00 PDT

 

That's the problem with Ebay when the price seems really low. You think people are working together to boost the price once you're already bidding so that you feel the need to keep going. It's unfair to the psyche!

 

I've noticed that same thing, and often wondered "why" would someone do a bid ending in '9'. It's an obvious SELLING price, almost never a BUYING price. If/when I'm serious, I go just 'over' the round figure. Good catch on that.