Is your "word" something to trust?

[Rick H]

[ QUOTE ]
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

[/ QUOTE ]

There is all sorts of issues with this transaction. You offered to purchase the vehicle off auction and sent a deposit and he accepted. He doesn't know how to stop the auction?? Could have figured it out in 5 minutes. You should have insisted he stop the auction.

A woman mistakenly entered $2.9mil instead of $29k? Big flag there. Someone was hunting for reserve price. Did the auction ever end with reserve met??

Playing games by raising the bids is in my opening playing roulette and not a good practice. Again if he didn't know how to stop the auction you should have called him and talked him through it.

Another bidder finally outbid you because the auction ran to completion and legally the seller is now obligated to sell the car to the high bidder. How do you know what the other deal was between the seller and now final bidder?

"shafted"? In my opinion you helped in shafting yourself by allowing the auction to continue.

Yes, he was shady but you should have presisted on stopping the auction but you let it ride and finally got beat out by another bidder.

I think everyone should learn a lesson from this, lick your wounds and move on.

Rick H.

[Rick H]

I guess that answers the question about reserve being met.

Link to the LT-4 auction

Now I see why he was looking for the high dollar. 602 miles. Wow.

$8000 more then your offer is quite a lot. Not saying what he did was right but the high bidder is obligated to buy the car.

Rick H.

[Glenn J Coleman]

Rick,

I already have "licked my wounds". I wasn't the one who started this post. I was just trying to fill in some of the blanks that several polite forum members had raised. Needless to say, I can replay the events that happened over the last 2 weeks and find my own errors. Several, you pointed out.

Have a pleasant day.

Glenn

[Rick H]

Glenn,
I wasn't pointed fault at you specifically. It was the whole transaction and faults by all parties.

Good luck.

Rick H.