[First?] 599 GTO on eBay

Unless a car sells at auction bids mean nothing. Auction houses and in this case the lister can bid up to the reserve. They can't bid over the reserve amount legally but up to the reserve they can.


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I'm not a big fan of ebay, nor do I routinely follow these auctions but one thing has me scratching my head...how is it that of the three bids the first one was @ $645k followed by a few days later a $600k bid? It would seem to me that if the bid was already up to $645k why would someone post a lower offer???

 

The $600 offer was after the $645.
Easy: When you are bidding you are doing this with your maximum. This doesn't mean you have to pay this amount. First bid counts unless someone goes higher. Then the system raises your stake always again up to your maximum.

 

The $645k bid was offered on June 02, 2011 and the $600k was offered four days later...the auction shows where the current bid is, that's why I'm confused.

 

Interesting to see if this will sell at that price or higher.

 

The way ebay works is this: If there is a starting minimum bid, below the reserve, no matter how high the FIRST bidder's bid is (as long as it is less than the reserve), only the fact that someone has made a minimum bid will show. Once a second bid comes in, the first bid, if higher, but still below the reserve will be shown as the minimum allowed increment above the second bid. In this case, the first $645K bid was viewed by the outside world as $500K, until the second bid came along and "revealed" the actual bid amount.

I recently bid over the minimum on a Schedoni leather item as the first bidder, but only the opening amount showed, because it was less than the hidden reserve.

 

Not anymore. He traded it for an Enzo. They also have what I believe to be Dan's Ex-458. This place must do a lot of business with Ferrari of New England.

 

Ok, gotcha! Thank for the explanation

 

Are GTOs really fetching $600K plus? Crazy car.

 

Yes, indeed soooo weak

I'm almost tempted...(NOT) !

 

I can not believe what is going on with the GTO's

Very cool and shocked in a good way!

Good for you guys who pulled the trigger

 

drive the car, then you´ll understand easily--- i had no clue of the car prior to driving it. regards

 

http://cgi.ebay.com/ebaymotors/2011-Ferrari-599-GTO-Bianco-Fuji-Red-Carbon-Loaded-/250833527886?pt=US_Cars_Trucks&hash=item3a66d7e44e

 

I screwed the pooch on this one - had one in and and got all caught up in the first right of refusal and walked.

Good news is ... who am I kidding there is none in this scenario but I do get to live vicariously by posting

 

I will bet $100 by end of year 2013, GTO price will be $400K max, when the replacement comes out.

 

Your bet might be taken more seriously. If we actually knew you had a $100.

 

Now we just need your opinion as to where the NASDAQ and DOW will be in 2013 and we can be rich.

 

+100%....another thread, another expert

I needed a great laugh today, thanks!

 

I fail to understand this whole obsession with value, sometimes I wonder why people buy these car. Are they bought to keep value or are they bought to enjoy and create driving memories.

If one looks back the 288 GTO also fell in value briefly and look what they trade at today!

 

+1. Nobody takes the depreciation threads seriously

 

I will Bet 100$ by end of Year 2013 i will enjoy my gto As much As i do Know))

 

Thank you.

 

hahaha ...