Be very careful using Online Auction Sites

??????
Suggest to explain what really happened. I don't get it.
And what major online auto auction site are you referring to? Where? Europe? USA?

Marcel Massini

 

Contrary point:
Beware of listing your car on online auction sites. Some bidders will not follow through with the common sense gentleman’s agreement that you have done your due diligence and via bidding are committing to follow through on the purchase. When you place your bid you have “come to terms with the seller to close”
That’s my understanding anyway


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May as well post a link, no sense in being vague if it's supposed to help the community here.

 

So, what is your point?

 

I’ll ask


Bring a trailer where I have bought several cars doe not make the sale binding as eBay does not either.


How we eBay has no buyer fees.


If you’re saying that BaT will not refund your fees if the seller does not complete as the item is represented?


In other words if the buyer walks due to lack of knowledge as opposed to lack of disclosure or misrepresentation, I would not expect buyers fees to be refunded.

Tell us what you mean otherwise I’m going back to this lame game.


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This is why I think these online auction sites will be a fad.

Very little in the form of any transparency of a deal actually getting completed. So guys who have several of one model or a club will throw a car on and bid it to a stupid number. It costs them 5k... But spread among 3 guys who cares 1500 bucks...

The value of all their cars is perceived to have gone up.

BAT is ripe with and for market manipulation.

I'm not a fan.

Plus the peanut gallery of guys who ask a million questions and never bid. Wanting to know about the smallest spec of corosion on a sway bar clogging the comments with worries of hidden rust and how they would have addressed it before hand...

I think people forget that ebay was like this too. eBay in the early days was just as popular as bat for bringing big money. Youd throw it on eBay and it would bring very strong money.

That has subsided and the new girl in town is BAT.

Once enough people get burned with crappy transactions... Just as people did on eBay things will change.

Once BATs feet get held to the fire to confirm condition and authenticity etc... They will start picking up commission fees like gooding and rm and the rest.

They aren't just going to sit by on the sides and let all that money not get collected. And if they want to save their platform they are going to need to change their approach. Once their is enough poop in the water... Few will want to go for a swim.

 

Be interesting to see when, not if, they get rid of that $5K max buyer fee.
You start selling 1-2-3-4-5 multi million dollar cars a month, and corporate is not going to piss that money away forever just to be seen as the shining star and white knight of “anti big auction” houses.

 

Ill be surprised if they don't charge the seller 1 or 2 percent. They wouldn't lose a single seller.

 

That would be an interesting angle. You’re right too, it’s hard enough at the moment to even get something accepted. I’ve resorted to using “super sellers” to sell on my behalf, and it’s worth just paying them a fee. As a regular person, my last auction took like 45+ days to go live. These guys can get stuff live in 3 days.

 

AGAIN.
Still waiting for clear details.

Marcel Massini

 

I guess the OP wanted to advise everyone that BaT (or whatever platform) is going to take their fee’s whether you buy it or back out. I assumed that to be the case all along; as I wouldn’t have bid unless I knew the answers to the questions before committing to buy it. But, again, that only my assumption.


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I don't necessarily disagree with your assertion, just wanted to add more color to the discussion

https://www.bloomberg.com/news/articles/2022-01-07/bring-a-trailer-sold-829-million-in-cars-in-2021-walloping-auction-houses

 

I don’t know BaT as a seller or buyer. I’ve just browsed and been dumbfounded at the prices. Interesting comments above about shilling. Makes sense. Is there a way to see the % of auctions that are completed?

Also, I thought that a part of the lengthy time to get a car listed was that BaT verified condition. I guess that’s not the case?

 

I have bought on BaT. Fortunately dealt with a good seller, and prior to the run up of things lately. It’s a good platform to reach buyers, and what’s the alternative presently? Is the comments above they need to charge more to filter out both sides? Fad perhaps, but seems like it has momentum to get much bigger. It have bought and sold vehicles on eBay as well. Also a history of good trans actions both ways. Found my current Ferrari on eBay. We did the deal outside of it.

the peanut gallery does get a bit stale on come auctions, but overall I usually learn something or get good information from a seller in a timely manner. Sellers posting, to me adds credibility as its now info out to everyone.

It would be nice to know the percentage of completed transaction, or more post-sale follow up

 

If anyone has watched Tyler Hoover's recent You Tube films on his Plymouth Superbird films, BaT refunded him the buyers fee (and apparently blacklisted the seller) when the car turned out not be as described and not all the items included in the sale were delivered. While it is easy to say that they did it because he is a popular You Tuber it also makes a clear public precedent to get a refund if that situation arises.

 

These platforms are always just a means to reach people, as a buyer and seller, imo.

I found my 599, and QP on ebay and talked to the owners directly quite a bit before taking the plunge.

 

Mentioned this on the Bat thread already. What serious bidders, bids before the last few minutes!?
Can someone write some code to track all these early bidders who never win?