To be honest, I browsed the ad and didn't realize Scott built that car. It's a really nice car and I agree it's not that dated. It definitely fits that baby boomer mentality. Big block, street rod interior, etc. It could easily go 125k at barret jackson. Still a little pessimistic about ebay and big money.
I am a total newb with ebay. In fact I have NEVER bought or sold anything on ebay. I don't understand the private identity and shill bidding or how any of it works. I was under the impression if there was 66 bids then there was 66 real bids. And real people making those bids. Can anyone help me get a clue here?
I do like the car mentioned. Not what I would build for myself, but still a very nice and well done car. I hope they get a decent number out of it somehow.
In the past, on Ebay, you could at least see the actual Ebay account names of the people bidding on public auctions by clicking on the 'Current Bids' link for that auction. You could then click on the bidders' account names and see their bidding history, feedback, etc, and that helped a lot in determining the validity of the other bids in the auction. You could even send a private message to another bidder in the auction. A seller could only hide bidder names in their auction if they specifically set the auction to 'private', and when they did that, it was a possible sign something fishy might be going on. However, now, all auctions are private. I believe they did this for privacy reasons which is understandable, but it really makes it easier for a seller to use other accounts or have his friends bid up an auction and nobody could ever tell. There have been times when I have wanted to tell a bidder on an auction that the car they just bid $8K for is actually listed on CraigsList by the same seller for $6K, just as a way to possibly save that poor sap some money, but you can't do that anymore. So there's been some functionality and important information lost due to privacy. You just have to be honest with yourself and what you're willing to pay and not care what other people are bidding because you don't know where those other bids are coming from. Bid what you think is an accurate price and if you don't win then it just wasn't meant to be. You never know, the auction might be relisted, or the seller may come back to you with a 'second chance' opportunity or something.
In the past, on Ebay, you could at least see the actual Ebay account names of the people bidding on public auctions by clicking on the 'Current Bids' link for that auction. You could then click on the bidders' account names and see their bidding history, feedback, etc, and that helped a lot in determining the validity of the other bids in the auction. You could even send a private message to another bidder in the auction. A seller could only hide bidder names in their auction if they specifically set the auction to 'private', and when they did that, it was a possible sign something fishy might be going on. However, now, all auctions are private. I believe they did this for privacy reasons which is understandable, but it really makes it easier for a seller to use other accounts or have his friends bid up an auction and nobody could ever tell. There have been times when I have wanted to tell a bidder on an auction that the car they just bid $8K for is actually listed on CraigsList by the same seller for $6K, just as a way to possibly save that poor sap some money, but you can't do that anymore. So there's been some functionality and important information lost due to privacy. You just have to be honest with yourself and what you're willing to pay and not care what other people are bidding because you don't know where those other bids are coming from. Bid what you think is an accurate price and if you don't win then it just wasn't meant to be. You never know, the auction might be relisted, or the seller may come back to you with a 'second chance' opportunity or something.
Thanks for the insight Chris. I had no idea it worked like that. I think your advice is good. Bid what you are willing to pay, or what you think is fair. If you get it great, if not then maybe next time.
Thanks again Chris!
Remember the number one PROBLEM with an AUCTION -- it takes TWO or more people wanting what you have to sell - and they both/all are willing to bid to at least what you're wanting to sell for...So even at an auction like BJ... it takes two people minimum to raise the price. Without people bidding against each other - the price won't rise.
So here's the deal - you want 100K for your car - I'm willing to pay 100K maybe even 105K... I bid 50K and nobody bids against me - I get to buy the car (in a no reserve auction) even though I was quite willing to pay more...
So... since many sellers at auctions KNOW this... they'll have their buddies bid against you, bumping the bid up... Or perhaps the auctioneer knows what you "need" for the car - and they'll call out "phantom" bids - so essentially the auction house is acting as the "other bidder" against you.
Not knowing how this works - is why "newbs" get killed at auctions... and end up selling their pride and joy for way less than they wanted. A very expensive learning experience! LOL
eBay used to be a great way to gauge the value of something... lots of people - lots of exposure to the "market"... but I think so many people have been burned buying POS cars - and there are now so many "dealers" selling - that this no longer sets the market price... Of course, like anything - that is not 100% always the case.. there are millions of items bought and sold on eBay daily.. BJ used to be a "feeding frenzy" orgy on cars... I think that has cooled significantly and we will see more "normalized" prices this year - but then again - that's only my gut feeling.
It will be really interesting to see what happens at BJ this year. I really think the numbers matching restored cars are going to be outdone by the "resto mod" type of car. Including PT cars. It seems to me that people are wanting cars they can use rather than just look at. And having classic looks with modern performance where I see it going in favor of the untouchable restored cars. Just a guess, I really don't know Jack sh**. But I do know his brother.
Brian Hobaugh SCCA National Tour June 2014
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