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Comments
Yes, I've had it happen before and it was actually a completely flawless transaction. With buy it nows all over the place for $130 on eBay, two silly bidders bid my auction all the way up to $270ish (Set #7153). Buyer paid after auction end, I shipped it out. End of transaction.
I never understood what was going through their head... but considering I made double what I expected, I wasn't going to ask questions :-)
I had this happen recently when I sold my first gen iPad. Should have sold for around $200 but it went for $320 after 2 people duked it out. Got paid the same night too.
It's 50/50. It is crazy but some people do pay well over the odds, either they get tunnel vision and don't look at the other auctions or they made a mistake and feel they should pay. I've had people pay for items well over their value before. I've also had people who haven't paid and completely ignored all contact.
Good luck though, it's always nice when it happens.
Problem with this is that the Bidder was correct. As a seller, I was stuck. I couldn't cancel the auction, If I let it go to close, the second highest bidder was under no obligation to pay a second chance offer. I canceled the bid and the item got reduced to about 30% of what it should have gone for. Had it not goten bidded back up, I would have taken a loss. First time I have ever experienced this, but ebay needs to close the loop
One other thought was that this seller only had 18 feedbacks, but had a huge grasp on abay policy, more so than you would expect from a casual ebayer. I was wondering if this could perhaps have been a seller with a dummy account that he used to bid up competing items way up. Either way, this person is by far the most unethical ebayer I have ever encountered.
I wouldn't get too worked out about. I know it's a bummer and a hassle, but as a wise philosopher once said - "Don't sweat the small stuff." When it comes down to it, we shouldn't sweat the big stuff either. If I could just learn that myself. :-)
"A bid is a binding contract that's active until an auction-style listing ends. Once you place a bid, you need to pay for the item if you're the winning bidder. You're not allowed to retract bids to manipulate the bidding process, like trying to find out the maximum bid of the current high bidder or to find out the reserve price."
"Allowed
It's only OK to retract a bid if:
- You accidentally enter the wrong amount, like entering $99.50 instead of $9.95. If you do, you need to enter the correct bid right away.
- The item description changed significantly after you placed your bid. For example, the seller updated information about the item's features or condition.
- You can't reach the seller. For example, you sent the seller an email and it comes back undeliverable, or you tried calling the seller and the phone number doesn't work.
Not allowed
Examples of when you can't retract a bid:
- You changed your mind about buying the item.
- You wanted to find out the reserve price.
- You wanted to find out how high another buyer bid on an item.
- You only wanted one item but placed bids on multiple identical items. You should only bid on multiple items if you intend to buy all of them."
With only 30 minutes until auction end, I probably would not have allowed the bid retraction because it significantly altered the auction. He would not pay, I'd file a non-paying bidder, and all that is a nuisance, but the main result is that I wouldn't be forced to sell my item at a price that didn't have due course in a proper auction.
The only thing that gives me pause is that most bidders who do this won't bother contacting you and will pull an 'entered wrong bid amount' retraction at the last minute. eBay may have rectified that loophole, though.
Technically the auction is legally binding, but in my experience the reality works out differently. If a seller doesn't want to pay they simply don't pay. True that they can only get away with that x many times, but their PayPal account isn't closed or funds automatically deducted. And, the seller can't leave them negative feedback. (That's fine, but personally I think a seller should get an eBay generated negative feedback if they don't pay.)
And on the flip side, eBay is very slow to shut down sellers that are obviously selling items bought with stolen CC's, etc. I have experienced that as a buyer and it took months for eBay to stop the seller. That situation was made worse, because some buyers where OK with getting stolen goods at a discount, and other buyers we afraid to give the seller negative feedback (never understood that).
The same goes for a seller if you decide that you don't want to sell after the auction as long as you refund, eBay is basically fine with it. Obviously you can still get negative feedback and if you do this multiple times eBay will act.
I had some one purchase an item just a couple of weeks ago and afterwards they sent me a message saying they "bid by mistake" and they didn't want the item. I could have got angry, but whats the point so I was polite and said "no worries these things happen", and I refunded. In this case eBay had an option for customer change of mind and I was refunded my fees.
Obviously the scenario above about a bid retraction 30min before auction end is a little different and could possibly be open to abuse.