Quote:
Originally Posted by ICETOO
Which is why the vendor sets a realistic reserve such that when reached via a legitimate bid from a valid purchaser the cars is for sale.
Illegitimate bids should have no bearing on the outcome..hence the preceding legitimate high bid irrespective of all illegitimate bids should remain the binding contract...else-wise, old besty from the pub can artificially inflate the auction bid via his I phone over a few schooners...with no intent to purchase. 
If the vendor sets a reserve a 40K...he should be happy to take 40 K with no BS failed to pay, deal fell through with best buddy down the pub recourse....from a legitimate bidder.
Have I mentioned this may be an academic discussion and I have thick skin....slightly cracked though 
Anyhow..thats my spin on it...
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Reading back through this (I understand that quoting ones self does has some Freudian ID inferences) I probably came across a bit harsh and do apologize as I did invite members to post their opinions.
....so Sorry for being very one minded on this track and I am not suggesting any underhanded bidding occurred at all with my auction, although we all know that it occurs and this was the point I was trying to re-enforce that protocols should be in place to make a fair and equitable system with this type of selling forum for both vendor and buyer.
Having stated that....if the vendor choses not to sell, or accept the highest legitimate bid....then they should re list the auction, sell via another means, appropriately highlight the discrepancy to the regulators of the vending forum...or withdraw the vehicle from sale.
We can not forget the binding legalities of a reserve otherwise their is no point setting one in the first place....and the whole integrity of the selling process is undermined and lacks due credibility.
I am still keen to hear other points of view and will not be so grumpy next time....promise
