Cheap Cobra on Ebay - 12 minutes left!

[750hp]

$40K with 12 mins to go. Someone's going to get a cheap car!
eBay - New & used electronics, cars, apparel, collectibles, sporting goods & more at low prices

[Toecutter]

Goneskii ! $50,175 !! and registered in NSW!

Bloody hell that sounds cheap for a registered car with a new paint job.

You're right, someone got a good buy. I just hope that they were able to confirm the condition and particulars prior to the sale

[750hp]

OK, so I can't delete the thread, so I might as well update it to say that the price jumped nearly $10K in the last 20 seconds, so it seems like a fair price at $50K.

[Modena]

it's interesting that the bidder that won the auction placed a single bid, right at the end, even though the previous bid was 9 minutes earlier.

make of that what you will.

[750hp]

Nah Ben, the way it panned out looks completely legit if that's what you were unsure about. I've done the same thing where I've placed a maximum bid then wondered if I've bid enough (even while I'm still the highest bidder). I've then increased my own highest bid. I missed out on a pro street Sunbeam Tiger on Ebay when I was down at OZVENOM's place a year or so ago by not increasing my highest bid when I knew I needed to, but I'm not bitter...!

The winner of the Cobra could have put a highest bid many thousands above what he actually paid, but without bidding against anyone we'll never know how high he would have gone.

[beauies]

There is a program i use that puts my bid in on ebay at the last five seconds (can be adjusted even less), but it means you need to work out the very most you want to pay. Also helps to minimize biding against people.

[750hp]

I use www.gixen.com now. Set and forget!

[ICETOO]

Well Guys I can actually provide some further insight here too.....

eBay Australia: Buy new & used fashion, electronics & home d�r

I was the second highest bidder at $50,111 (with an earlier bid was having internet probs so the snipe was not so reliable) and up until 5 seconds to go had this in the bag at $40501 and was ready to book a flight until "kapow" dis appointment.

To make matters worse my last 30 second snipe to drop another 2 Gs for extra protection did not register in time due to our crap internet here on the central coast...and by the time the browser refreshed auction over and lost.

Having said this there is a fair bit of money that will need to be invested in the power train and suspension and hope the new owner....Congratulations....by the way and well played SIR!.....is aware of this and will spend the cash to bring this fine car back up to spec.

Also thanks very much to ByronCobra (Greg) who took the time to check this car out for me and provide me with some really great intel, photos and updates and if you ever down my way or vice versa the offer to catch up for those beers I offered stands!

It does make me wonder how some NSW Vendors are asking in the high sixties for a 1987 4 speed 351 version of the same G force car with twice the Kays when this went for 50K.

Clearly I will not enter negotiations at 15 K over the current market (according to shannons....I costed my comprehensive prior to bidding).....and this explains why they have had no interest within months too I think.

Anyhow, this one was not meant to be and time to resign myself for plan B.

Cheers Adam!

[jhv48]

I know why it sold so cheaply!

The steering wheel is on the wrong side of the car.

Must have built it while looking into a mirror!

[ICETOO]

Originally Posted by jhv48

I know why it sold so cheaply!

The steering wheel is on the wrong side of the car.

Must have built it while looking into a mirror!

Only because you blokes drive on the wrong side of the road. Those early pioneer wagon builders of yours have a lot to answer for me thinks!

[byroncobra]

Bad luck Adam, I've had similar situations with both eBay and graysonline where you think you've bought the item and then a higher bid just seems to materialise from nowhere and your out.

Anyway, the car sold at the right money. As we discussed, there were issues that needed a fair bit of work and cost.........I don't think it was the bargain of the year.

Many times I noticed eBay relistings where the last buyer hasn't paid, so you never know.........

Happy to help out with the "pre-auction inspection", all us Cobra tragics are keen to get
a look at any car............specially when I wasn't spending MY money :-)

Good luck with the hunt!

[Merv and Sharon]

You never know Adam - you may get a call back on that as yet. I have had that happen several times when the highest bidder, then decides they haven't got the cash or changes their mind. As second highest bidder I got the call. I know it is not supposed to happen, but it does.

[ICETOO]

Originally Posted by Merv and Sharon

You never know Adam - you may get a call back on that as yet. I have had that happen several times when the highest bidder, then decides they haven't got the cash or changes their mind. As second highest bidder I got the call. I know it is not supposed to happen, but it does.

Thanks Merv and Sharon, and cheers again Greg.

I am a bit disappointed but getting depressed about it won't get the job done.

At Least I have established some credibility as a legitimate buyer anyhow.

I was reluctant to go too much past 50 K anyhow, as that would cut into my rego transfer, insurance and spend on bits to fix him up slush fund.

I am a bit old school and only will offer or bid with money that I have saved and have already rather than pay outrageous interest rates borrowing, so I will keep saving, all they while that offsets against the mortgage (my one exception to the rule as Sydney and surrounds house prices are ridiculous) and my overall budget increases.

In Merv and Sharon's quote an interest question is raised.

As far as protocol goes, noting that I got the auction rolling by initially bidding over reserve and was only outbid by the winner, in the event that this sale falls through what price would be valid.

In this case I held the winning bid for 36 odd hours at $40501 (500 over reserve), then back bidded myself twice (due to internet problems making a last 20 second snipe bid unreliable) at $45011 and then $50111, just prior to auction close.

It would be reasonable to assume that if the buyer could not finalize the sale due to insufficient funds or otherwise then their bid would not be valid (this prevents artificial Mock up bidding) and my previous winning bid of $40501 (noting no other bidders outbid this amount) would be the reasonably assumed winning bid.

By rights if the vendors reserve was met he would be obliged to sell at this price under the EBay terms and Conditions.

What do you guys think. At this stage the discussion is somewhat academic as the sale will probably be fine and the new owner probably has the 15 to 20 K needed to get these wheels back up to speed.

Cheers Adam!

[Dimis]

Originally Posted by ICETOO

Thanks Merv and Sharon, and cheers again Greg.

I am a bit disappointed but getting depressed about it won't get the job done.

At Least I have established some credibility as a legitimate buyer anyhow.

I was reluctant to go too much past 50 K anyhow, as that would cut into my rego transfer, insurance and spend on bits to fix him up slush fund.

I am a bit old school and only will offer or bid with money that I have saved and have already rather than pay outrageous interest rates borrowing, so I will keep saving, all they while that offsets against the mortgage (my one exception to the rule as Sydney and surrounds house prices are ridiculous) and my overall budget increases.

In Merv and Sharon's quote an interest question is raised.

As far as protocol goes, noting that I got the auction rolling by initially bidding over reserve and was only outbid by the winner, in the event that this sale falls through what price would be valid.

In this case I held the winning bid for 36 odd hours at $40501 (500 over reserve), then back bidded myself twice (due to internet problems making a last 20 second snipe bid unreliable) at $45011 and then $50111, just prior to auction close.

It would be reasonable to assume that if the buyer could not finalize the sale due to insufficient funds or otherwise then their bid would not be valid (this prevents artificial Mock up bidding) and my previous winning bid of $40501 (noting no other bidders outbid this amount) would be the reasonably assumed winning bid.

By rights if the vendors reserve was met he would be obliged to sell at this price under the EBay terms and Conditions.

What do you guys think. At this stage the discussion is somewhat academic as the sale will probably be fine and the new owner probably has the 15 to 20 K needed to get these wheels back up to speed.

Cheers Adam!

I guess arguments could be made either way & some may even choose to chase the letter of the law on it.
The practical reality however, if it is a "failed sale" they may choose to contact you. The vendor would hope for the high bid, the purchaser hope for the low bid. Perhaps they meet in the middle.

Ultimately if they can't agree on a deal they could always risk re-listing.

In which case it works both ways.

My 2 cents

[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...

Ads

[ICETOO]

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...

Ads

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

[Modena]

ebay is an anonymous auction. Yes bid fraud happens, and not just on vehicles, but bid fraud happens in in-person auctions too, sadly it's part of having an auction it seems.

If you lose out at an in-person auction, how do you know that the bidder was genuine? Most times you won't.

To bad you missed out on this one, you better move on and start looking for the next potential.

If you are contacted by the seller because the high bidder doesn't complete the auction, then you should certainly negotiate assertively based off your last and highest bid. I wouldn't be mentioning contracts, reserves, or T's & C's, unless you want to scare them off and lose your chance again.

[HSVREDSLED]

I use powersnipe for all my ebay bids. It is set and forget. It automatically puts a bid in the dying seconds and takes away all the emotion from bidding.

Also good for international bids that end at 3am.

I also sit back and giggle thinking of the other punters out there going "WTF" when my bid hits with 1 second to spare. It can go against you though. I once bidded on an item which was going for about $2000 less than what it was worth. Set up the snipe...watched the final seconds, then WTF? Some punter got it for $800, and my max bid was set at $1200? Later investigation showed my missus used my ebay account but could not remember the password so did a password reset and didnt let powersnipe (or me) know the change of details...when they snipe tried to go bid, password did not accept...

Another story, my mate is a ebay ignoramus and wanted me to bid for a left handed golf club titleist vokey wedge for him...reasonably rare item. So I found one, set a snipe and in the final seconds the bid went from $50 to $131 ($130 was my maximum bid) So some punter got it for $131 when he should have got it for $50. Oh well. A few days later I saw my mate, I told him I almost got the club for him, he said "Ah dont worry my sister got me one off ebay...we almost got it for $50 then in the last second it jumped to $131!!"

[ICETOO]

Originally Posted by Modena

If you are contacted by the seller because the high bidder doesn't complete the auction, then you should certainly negotiate assertively based off your last and highest bid. I wouldn't be mentioning contracts, reserves, or T's & C's, unless you want to scare them off and lose your chance again.

Thanks for the guidance Mods...but hard to do when the difference is 10 grand over what you would of had the car for if an alleged dodgy bidder was involved...however I do understand the mission was to procure this type spec cob rep for fixing up within the budget constraints....but a hard nut to swallow still.

I will have to sleep on it and if this does not happen and the sale is legitimate ..then their is no point being worried about it and I will continue working toward plan B!


BTW having a great laugh at HSVs tale, makes me feel a wee bit better about the whole online auction process...but I probably will not engage online for this scope of procurement in the future.


Cheers Ads

[boxhead]

I think you will get a phone call or second chance option.

Did you check the winning bidders bidding history?
100% with this seller????

Its called shill bidding.
Bidding Details