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Someone Overpaid For An AU 1941-S Walker

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Rest in Peace
numismo's Avatar
United States
3039 Posts
 Posted 01/31/2009  10:06 pm  Show Profile   Bookmark this reply Add numismo to your friends list Get a Link to this Reply
The coin started at 99c. Bid #9 took it to $32.99. Bid #10 was $2029.00. Bid #11 won it with $2054.00 almost 34 hours later ! MADNESS. The bidder would really be stuck without a return policy. Is a bid like this one or any other one legally enforceable if unpaid or would the bidder just lose his ebay privilages ?
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DNA's Avatar
United States
2734 Posts
 Posted 01/31/2009  10:31 pm  Show Profile   Bookmark this reply Add DNA to your friends list Get a Link to this Reply
Bidder #9 could have set a 'snipe trap'. That's where you set a ridiculously high maximum bid so that a last-minute snipe (where no maximum was fixed on the snipe bid) will be on the hook to pay that amount or deadbeat. Even if a return policy is offered, the buyer still does have to pay the excessive amount and wait to get the item before he returns it (or deadbeat!).

Years ago, someone sniped me on a rare classic car part.
(the sniper was the only other person who wanted it, I guess!)

I had a feeling that he was going to snipe another part I had just bid on. (after all, he had the same kind of car as I do!) I set a 'snipe trap' of $100 on a part worth $20. And I was prepared to pay $100 for the part if necessary!

The sniper had to pay $101! Yes, he did pay it, I asked the seller! Both of us played the game by the 'rules': I had the $100 set aside to back up my bid, and he paid the $101. (for a part I got for $14 on ebay a year later!)

It looks to me like bidders #10 and #11 weren't paying attention to their snipe bids before the auction's end...

PS: Two Grand would be OK for a 1941-S Walker...if it was MS66!
Edited by DNA
01/31/2009 10:52 pm
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steve199's Avatar
United States
1882 Posts
 Posted 02/01/2009  04:07 am  Show Profile   Bookmark this reply Add steve199 to your friends list Get a Link to this Reply

Quote:
Is a bid like this one or any other one legally enforceable if unpaid or would the bidder just lose his ebay privilages ?


A buyer won't lose buying privileges for having one non-paying bidder strike.
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 02/01/2009  05:02 am  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply

Quote:
A buyer won't lose buying privileges for having one non-paying bidder strike.


That's the trouble - there's no "legal" aspect of such a bid, only ebay's rules and whether or not they choose to enforce them. As steve199 said, ebay is now a buyer's market - sellers are at a distinct disadvantage - and the bidder could walk away without harm. The seller couldn't even leave him a Negative Feedback for it.
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manila galleon trade's Avatar
Spain
1361 Posts
 Posted 02/01/2009  09:25 am  Show Profile   Bookmark this reply Add manila galleon trade to your friends list Get a Link to this Reply
Buyers can always claim error in pressing the keys. This is definetely a mistake not in pressing the wrong keys but in bidding using an amount you are not willing to pay. They learned their lessons, at least the one with 10 feedbacks.
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KenKat's Avatar
United States
4085 Posts
 Posted 02/01/2009  10:21 am  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
If you are going to use the snipe strategy on ebay (which I think is the best strategy to be honest), you have to still enter a reasonable maximum bid. You can be aggressive but you can't be stupid. You have to bid an amount that you would be at least ok with if you have to pay it. And if you don't get the item - oh well - there's a million fish in the sea.

These two bids were just crazy.

Ken


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TreasHunt's Avatar
United States
2540 Posts
 Posted 02/02/2009  06:33 am  Show Profile   Bookmark this reply Add TreasHunt to your friends list Get a Link to this Reply
how dumb can they get?

That is way past silly.



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chris12018's Avatar
United States
2130 Posts
 Posted 02/02/2009  8:38 pm  Show Profile   Bookmark this reply Add chris12018 to your friends list Get a Link to this Reply
Hey Ebayer I have some for sale too!
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