ebay purchase

[caliber60]

"REMEMBER, YOUR BID IS A LEGALLY BINDING CONTRACT! WE DID NOT WANT TO, BUT WE ARE NOW PROSECUTING DEADBEAT BIDDERS TO RECOVER FEES, EXPENSES AND TIME!"

Statement from an ebay seller.

I know a lot of buyers backing out the deal. What about a seller cancel the ad early because he sold the item locally? Can we "prosecute" the seller as well? Some sellers stated the right to sell the item locally and cancel the bid early? Does the buyer has the right to cancel the bid if he found the item locally as well?

[ruf-porsche]

Buyer can retract a bid before the auction closes. Buyer can not, or at least not suppose to back out of a auction after the auction closes.

Seller can end an auction early, but seller can not or at least not suppose to cancel an auction after it closes.

[TMH]

It is legal for the seller to cancel all bids and end the auction early. I don't think that they would even need to cancel the bids to end it early if the reserve price has not been met. Seller could also end a non-reserved auction early without cancelling bids if the price they want for the item has already been reached.

Ebay gives the seller various options to end auctions early: Item no longer available, Item has become damaged during the auction, etc.

Both the buyer and seller are 'legally' bound to complete the auction as it ends up if it is not cancelled by the seller and if the reserve is met. But what does this really mean? Are buyers or sellers really going to eat the costs of litigation in order to make the other party hold to the 'bid contract'? Usually not: Too costly and not a given as to whether you will 'win in court'. On eBay either party only risks a bad feedback rating, after which they can always register under another user name.

Tom

[nostatic]

words and words alone. They are worth the electrons they are printed on.

[Hetmann]

I don't believe you have a contract until consideration changes hands. The whole ebay thing is as binding as a handshake from a stranger you've never even seen. I have had several "auctions" ended when I was high bidder.

[Sonic dB]

Ebay is not the law. Let them sue you. Sounds like a bunch of hot air to me.

[greglepore]

Consideration? Mutual promises are consideration in any American jurisdiction, as is "detrimental reliance". The winning bid in an auction in in fact a legally binding event in any jurisdiction I know of. Why? Because the seller loses his ability to collect from #2.