Does anyone else think this is fishy?

[motion]

http://cgi6.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewSellersOtherItems&userid=newportautosport

This is a well-known and established exotic dealer in Newport Beach. I've visited their store several times and found the cars all to be absolutely impeccable and in amazing condition. Most with very low miles.

But here's a list of several cars, big, big bux with lots of bids. I mean, there is A LOT of activity on these auctions. My first thought was that they are shill bidding their cars up... but is it possible that the market is this strong for $100k plus cars?

They also have 0 feedback, which is odd.

I agree, odd, very odd.

I used to drive by this place almost every day when I lived down south, just to get my fix. On the other side of PCH is the equivalent in yachts.

[RickM]

It seems the prices are very low. I wonder if the bidding loses steam before it hits market value.

[speeder]

I must be missing the odd part(?)

I don't follow the exotic market closely, but these cars seem to be still tens of thousands below true value. Of course there is an unlimited supply of people willing to pay ~$136k for a 2003 Modena, they sell for probably $180k new!!

It may have changed, but two years ago, a 360 coupe/U.S. car/no waiting was ~$70k over sticker.

3 yr. old Ferraris w/ normal low miles, (practically all Ferraris have super-low miles), sell for tens of thousands over MSRP of a new car. It is a completely different market, and I'm sure that it is as healthy as ever.

[pbs911]

I think it is just advertising. People click on the "watch this item" and each time there is a bid they receive an email. By bidding their own cars they send emails to everyone who is watching the auction. Just a means of getting out their name. I doubt there is such a competitive market for these high end cars. I drive by there usually 2-3 times a week and see the same cars on the lot. Nice cars, but there is not as high of turn over rate as the ebay auction suggests.

[widebody911]

Originally posted by speeder
3 yr. old Ferraris w/ normal low miles, (practically all Ferraris have super-low miles)

They don't stay running long enough to rack up any miles!

[singpilot]

eBay no longer goes after shill bidding.

After all, it is good for them.

The threat of a bad feedback is toothless as well. Any bad report gets you a bad report. I am about done there. Used to be a great place to do trading, but now is crooks who escape prosecution by hiding behind multiple screenames across state lines.

[RickM]

Originally posted by singpilot
eBay no longer goes after shill bidding.

This shill bidder just got sent to the pokey.

http://www.washtimes.com/upi-breaking/20040526-084012-7675r.htm

[Shuie]

The TR6 threw me. I didnt expect to see that in the middle of a bunch of $100k cars. Low and behold it is also at the top of its market value currently. Man, I wish my eBay auctions went that well

If they are shill bidding everything wont they have to pay the sellers fees when the auction ends and a real buyer doesnt place the top bid? I dont know if I would want to be the guy paying the sellers fees on a dozen F-cars

[motion]

IINM, vehicles are a straight fee of $80 or so?

[singpilot]

If so, best advertising price available.

The shill bidding there has gotten really bad. The last two I turned in were 'Power Sellers', and eBay refuses to prosecute their own.

[LeeH]

Pretty scary. Seems like it would be pretty easy for someone to collect a couple of million this way, tell the suckers the cars are on the way, and then disappear out of the country.

[Porsche-O-Phile]

It might be part of a money laundering scheme too. Oh wait, there's someone at the door. . . hmm. . . odd. I don't know any really large Sicilian guys in suits. . .

[Porsche-O-Phile]

Nothing against Sicilians either - my best friend is; he'd appreciate the humor.