09-13-06, 09:08 AM
Here is nice 2005 STS RWD on eBay that ends Thursday. Is located near Atlanta Airport.
eBay Motors: Cadillac : STS (item 130026142921 end time Sep-14-06 11:00:00 PDT) (http://cgi.ebay.com/ebaymotors/Cadillac-STS-Rwd-4dr-Seda-LOADED-05-CADILLAC-STS-V8-CERTIFIED-3-DAY-NO-RESERVE_W0QQcmdZViewItemQQcategoryZ124117QQihZ003Q QitemZ130026142921QQrdZ1QQsspagenameZWDVW)
I suspect they have an unstated reserve that is handled by a shill sniping service. They say the car is certified, but not in sense of a Cadillac certified pre-owned with an extended warranty.
09-13-06, 12:34 PM
I could use a little education on these Ebay bids. If there is NO reserve does that mean the seller HAS TO except the HIGHEST bid? And if the reserve is NOT met will the seller usually "drop down" and accept the next bid that's he/she feel is acceptable to the reserve?
If the seller is not getting the price they want in a no-reserve auction, the seller will sometimes "buy" the vehicle themselves, pay the auction fee, and keep the vehicle for a future day. Some sellers also withdraw the item from auction at the last minute, citing the terms to end the auction early.
Sometimes sellers will contact the highest, below reserve, bidder after the auction to attempt to sell the item. However, this is also a very popular scamming method by persons posing as the seller. Also, it is common for bidders to contact the seller of an unsold item to attempt to negotiate a deal.
09-13-06, 05:40 PM
yep the dealer bought it at the atlanta auto auction. (dealer only) paid 22,000 for it..+auction fees approx 500.00----- i love having access to these sites! lol
09-14-06, 09:09 AM
XXCADDYTECH: You subscribe to the publications that cover the car auction action? And if so which publication? A buddy of mine has the books on his desk for he's been in the used car business for years. I was always AMAZED at the prices these cars are being sold at. The car here in question went for $22K+ you say? And the original sticker was? About $45? You have a wholesale discount on this unit of about 50% in two years. Wow, what a "haircut."
09-14-06, 09:16 AM
c5rv: You stated: Sometimes sellers will contact the highest, below reserve, bidder after the auction to attempt to sell the item. Is this very common? It makes sense that more negotiating would follow a failed attempt to sell the vehicle via Ebay does it not?
From what I've heard, it's usually more common for a bidder to contact the seller if an item didn't reach the reserve price. I think there's enough "second chance" fraud talked about online that bidders are wary of "special" deals sellers offer outside of the normal auction process.
I don't like to buy or sell on eBay, too much fraud and I don't trust PayPal. Plus, I'm not a collector of OPJ - other people's junk. I will shop on eBay and identify sellers that have real businesses. I then locate the seller via other means than ebay and contact them via phone or their website. If they aren't a real business, I buy elsewhere. I did this when looking for a replacement wheel for my CTS.
I was the high bidder on an used auto on ebay that didn't reach the reserve price. I contact the dealership and negotiated a selling price for the car. I insisted he relist the car on ebay with a "buy it now" with our agreed selling price so I could purchase the car through ebay. I figure most legitimate dealers are concerned with there feedback history. Who the heck is going to do business with a dealer who has a lot of negative feedback. The dealer told me any cars they place on ebay are inspected closely and are their best, because such a large portion of their business was through ebay, they couldn't afford negaitive feedback. With that said, buying any
car, to some degree, is a "crap shoot".
09-14-06, 08:16 PM
yep most newer cars are the best deals at the auction the higher priced ones are better deals. a friend of mine from the gym just bought a mercedes for 40% of its new value. 2yrs old $100k plus new. the cheaper the car the less deals are availible. buy here pay here lots will pay retail to get the 28% interest a yr they can charge. the black book is a joke the blue book even worse. (unless your a dealer) i gave up my dealers licence in jan 06 but still have access to the auction prices where they post the actual sales prices. to much headache. i could not run 2 buisnesses by myself so i gave up the less profitable one....p.s ask your buddy to go to the auction website he deals with. all the info is there whats coming up for sale and what sold before and for how much.. new car dealers are screwing people way worse than used car dealers can because of trade ins... i pay for all cars with 1 check. who wants to pai interest on a depreciating liability (notice i don't say asset)