I think there are a few reasons why big ticket transactions like cars do not complete on eBay:
1. Bidder is relatively anonymous, so they can make casual bids without being accountable.
2. If the high bidder does not complete the transaction then no matter how many legal warnings or useage statements the bidder has agreed to, there is very little practical consequence to deadbeat bidding.
3. The stupidity factor. With your auction being displayed to potentially millions of bidders there is a much greater chance that an idiot is going to mess up the auction.
I sold a car via an eBay auction last year. It was a 1967 Alfa Duetto in need of restoration. It turns out that it did not meet reserve and the guy who actually bought it was one of the bidders who was local to me. He came over and inspected the car before he bid and we chatted face to face. It ended up being more of a normal face to face car sale.
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