Is your "word" something to trust?

[WILMASBOYL78]

I can honestly say that I have had some really great experiences with car transactions over the last 5-6 years. Some of the best have been with guys from this site...maybe I have been lucky or it was just meant to be, not sure. INTEGRITY is rarer than a matching numbers BB Nova, and worth a whole lot more!!

Thanks to all the folks who treated me nice, hope I can return the favor some day.

wilma

[Rick H]

Basic business law. Unfortunatly most do not follow it and I have lost a few cars to this type of dealings.

When you said sent, was the deposit in the mail or was the seller in actual hold of the deposit? There is a difference in legal matters. Saying he sent a deposit means nothing unless the seller actually accepted the deposit and notified the buyer he was in receipt. Unfortunately if the deposit is in the mail the seller can cancel the agreement by notifying the buyer before he receives the deposit. The buyer has the right to do the same before money is accepted.

If he was in receipt then he was wrong and can be held liable. Of course as mentioned it would cost the buyer more as well as the seller. Just not worth the aggrevation.

It's a shame because the car is only one of 100 made and would make a great addition to any garage.

Rick H.

[Pantera]

I might add that anyone doing this long distance be sure to get the terms of the deal down in writing and of course be sure that you get the original back in the mail. If you have proof that you acted in good faith then most Judges will find in your favor. The writen contract and receipt shows the intent of both parties.

I will never forget a judge telling me when a guy backed out of a sale on a car and I had kept his deposit. He told me that if I had wrote anything down on the sales contract, that if the buyer didn't pick up the car in a certain amount of time then he forfeted the deposit money. He said if it was in any form of writing that he could haave understand, he would find in my favor. So, the guy got his deposit money back and I had to pay the court costs.

I know this is hard to do long distance, but fax the seller something in writing with the terms you and he have agreed to and a copy of your check. Be sure to have him sign it and fax it right back. Also insist that he puts the original that he actually signed in the mail that same day. This is no gurantee you will prevail in court but you will have a better chance in court than he will.

Sellers remorse might be avoided if you have a litte fodder like these documents on your side.

For what it is worth. Mind you I am not an attorney but sure have paid them lots of money over the years and this was something that I learned the hard way. Just be careful. There are so many crooks out there that will take your money and disappear. Check them out as much as you can beforehand.

Good Luck
Pantera

[JQ]

[ QUOTE ]
I had a friend that found a 30th Anniversary LT-4 Camaro and made a deal with the seller. (He even sent a deposit to the seller to hold the Camaro for him.) The friend calls the seller back and he is told he sold the Camaro to another buyer for a higher price! How can someone do this while holding a deposit? I value my "word" when I give it to someone! This was wrong in my opinion!
I thought I would post this and see what you guys and gals think of this.

[/ QUOTE ]I think when a deal is made through a hand shake or a persons word it shows a lot of integrity and class....When a seller decides to change their mind and sell the car out from under a buyer who he already agreed to just shows poor ethics ...

[MikeA]

Because of the "big" money involved with these cars everyone has to be careful with written/printed documentation and be very careful when someone in giving you his "word".

[Rick H]

When it comes to big dollar transactions on rare cars such as this or any high dollar item it's a sellers market and the only "word" that means anything is what is written in the sales agreement. Spell it out completely.

Handshakes and promises are a thing of the past and mean nothing. It's a shame really.

Rick H.

[PeteLeathersac]

Handshakes and promises are a thing of the past and mean nothing. It's a shame really.

Rick H.

[/ QUOTE ]

Been there on all sides of this scenario but still don't believe it's all gone bad yet!

A hard part of the situation is, often a sale is to finance another purchase and so on down the line of guys doing the same thing....the chain reaction breakdown when one part goes sour causes more than the one deal to go bad.

Whatever happens, legal fights seem to result in even more wrongs so get on with life and enjoy the good things now....fill 'er up with Hi-Test and practise your Ronnie Sox clutching imitation while it's all still possible!

[Mr70]

This World needs an Enema.

[Glenn J Coleman]

I am thankful for all the input and advice posted. I am the guy who was "shafted".

For those curious, The seller agreed repeatedly to the selling price of $28,900. He supplied bank information and was wired a $5000 deposit, which he confirmed had arrived. The bid retraction that was noticed earlier was due to a woman who meant to bid $29000, mistakenly she entered $2,900,000 !! The seller (Kirk Trascher from Houston) told me that he did not know how to end the auction. I told him that I would raise the proxy amount to eliminate any other claims to the car due to EBay.

I confirmed the sale particulars with Kirk one last time before I left to visit my elderly folks in St Louis, where I was without computer access.

Someone (with past Ebay purchases of Yenko material)attempted to outbid my proxy during the closing of the Ebay auction. The closing price ended at $36K. This is when, in my opinion, Kirk lost his sense of what is right and wrong. The "other" bidder was contacted or made contact with Kirk and they struck a new deal. Kirk was so kind as to offer me first right of refusal on the new sale amount!!

I was polite at first. I reminded him of our previous agreement outside the Ebay auction and to ask for a dollar more was unethical. My comments fell on deaf ears.

I did contact an attorney. There is legal grounds to impose a sale restraining order. But, as others here have mentioned, the cost and the aggrevation outweigh the potential gains.

Anyway, Thanks for listening and for those that took the time to comment. I'll see some of you next summer at Carlisle.

Regards,
Glenn J Coleman

[RareSS]

To all those that have replied to the post, thanks for your inputs. I think this is some information we should all consider the next time we do any dealings, but remember, there are still some good honest people left out there.

One day this Camaro will show up and people will know who bought it.
I still believe in the old saying..."What goes around will come around."