CurtPalme.com Home Theater Forum

CZ Eddie · Joined: 23 Mar 2006 Posts: 1601 Location: Austin, TX

http://www.biddingatauction.com/listings/categories/index.cfm?category=817747290&location=both&ID=1124

sha....BLAM!

Thumbs Up

**Curt Palme** · Posted: Sat Nov 22, 2008 4:47 am Post subject:

Damn! I remember we had a similar auction here years ago (2001?) with a high end HT store going under. An Ampro 4300 went for $7K.

I'd love to bid, will be interesting what stuff goes for now that the economy is in the crapper..

MikeEby · Joined: 24 Jun 2007 Posts: 5237 Location: Osceola, Indiana

It looks like the stuff is from Classic Stereo. Not too far from me.

http://blog.mlive.com/grpress/2008/07/classic_stereo_closes_after_ec.html

They even have their trucks they are selling and someones Saab.

http://www.biddingatauction.com/listings/categories/index.cfm?category=817747289&id=1124

Mike

VideoGrabber · Joined: 09 Apr 2006 Posts: 933 Location: Michigan

Don't expect any super low prices. While the large print indicates no Reserves, and very low starting prices, the fine print reveals, "Seller Bidding: The SELLER or their agent RESERVE THE RIGHT TO BID on their own item in order to protect their investment." So as the auction nears the end, and your mouth is watering at the prospect of getting something really cheap, because you're the high bidder, the SELLER will jump in and outbid you at the last minute.

These auctions are a way to get as much money as possible for in-demand items. The rest they'll keep (in-box items), and resell at wholesale to another dealer. So if you think you're going to snag something for under dealer cost, forget it. Essentially, every item has a hidden, real minimum price they'll let it go for, which won't be revealed until the end (after you've wasted a lot of time, and anticipation).

Elaine Benes · Joined: 25 Apr 2006 Posts: 1416

VideoGrabber · Joined: 09 Apr 2006 Posts: 933 Location: Michigan

EB,

generally, I'd say Yes, but since it's in the Terms and Conditions, and you have tpo Agree to them to register to bid, I doubt you'd have any legal leg to stand on.

Since they do reveal this information prior to the "Auction", their position would be, "if you don't like it, don't bid."

draganm · Joined: 08 Mar 2006 Posts: 8990 Location: Colorado

the seller is Schilling his own auction. LOL, that's the most pathetic auction I've ever seen. They don't even have the right to call it an auction, it's a joke.

Cousin.It · Joined: 09 Feb 2007 Posts: 41 Location: Hurst, TX

I'm a little hazy on the details, but back in the early years of eBay (10 years ago) I believe there were a couple of instances a seller could bid on their own item. One was to protect their investment and the other was to place a proxy bid for a friend or neighbor who didn't have the ability to get on eBay themselves.

I vaguely recall sending in a complaint after seeing a seller bid on their own item and they replied that there were circumstances where it was allowed such as to protect their investment. I think they've eliminated this with the addition of "reserve" pricing (and fees) for the investment protection issue, but I don't know if you can still proxy bid for someone else - probably not.

Mark

ecrabb · Posted: Sat Nov 22, 2008 7:41 pm Post subject:

VideoGrabber · Joined: 09 Apr 2006 Posts: 933 Location: Michigan

ecrabb wrote:
> ...some of it may not even be current models. <

That's a good point, and I agree.

draganm · Joined: 08 Mar 2006 Posts: 8990 Location: Colorado

ecrabb · Posted: Sat Nov 22, 2008 11:06 pm Post subject:

I'm not defending them. I'm just saying it may not be technically "shilling" or anything that questionable... i.e., it's not an underhanded unidentified "stealth" bidder bidding against legit bidders. If their terms say they may bid against outside bidders, then I don't see the big deal. I read the terms of THIS particular auction, and I don't see that clause at all...

http://www.1800lastbid.com/Redirect/Terms.cfm?ID=1124

Here - their general terms - are where that clause is located it.
https://www.1800lastbid.com/auction/registration/user_agreement.cfm

It's in BRIGHT RED - one of only two clauses in the user agreement that's red. So, I'd hardly call it underhanded.

First of all, you don't know if the seller is even able to exercise that option, much less if they will!!! Second, take a look at the pile of rights reserved in all sorts of agreements. Many of those rights are rarely ever engaged.

Finally, putting it in the user agreement doesn't "legalize" - what they're doing is either legal or not.

Sorry, but I just don't see the big deal on them essentially saying, "We're not setting any reserves on the several thousand items in this auction, but if the buyer or buyer's agent wants to bid on an item that's going too low, they reserve that right. If you don't like the terms, don't bid.

SC

VideoGrabber · Joined: 09 Apr 2006 Posts: 933 Location: Michigan

> "We're not setting any reserves on the several thousand items in this auction..." <

783. But I take your point.

However, since they know what the lowest real amount they'll accept actually is for each item, they could set the minimum to that, rather than implying an item could sell for 10 bucks. Then nobody would have any beef.

Zebu Fellenz · Joined: 21 Dec 2006 Posts: 2567

I don't agree with the way they have chosen to hold their "auction" but at least they tell you upfront the terms and conditions rather than bidding behind your back.

IMO if you have an auction it should an absolute sale with the starting bid being the least you're willing to sell the item for.

-Erik