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Online Tractor Auction Question

8

8N'r--WI

Member
Does anyone know what this means? It relates to an online auction service "terms and conditions"?

"All final bids are subject to the seller"s confirmation."

My WAG is that if you are the high bidder, if the seller doesn"t like the winning bid, you would not "win" the item.

Thanks,

Tim--the not-online auction attender
 
Yep, that's what it means. It's basically another way of holding a reserve on the item. You'll notice, it probably says all sales final which means you as the winning bidder (if the item sells) are responsible to pay regardless of condition unless it is terribly missrepresented, even then sometimes it has to be settled in court. So your best bet is to take a drive and check out the piece of equipment before bidding on just pictures alone. I know this is more than you asked, but I thought I'd let you know. Keith
 
Thanks for the info...that is what I thought, too.

There is an auction happening right now in N. MN that has some really nice restored, unrestored tractors and implements on it.

It is way too far for me to go look at, but have friends within easy striking distance that would...

It would really be a shame to send somebody over there to look at the auction items, and then end up being the winning bidder on it and having the seller decide he didn"t get enough money for it....

Doesn"t really seem like a real "auction" does it?

Tim
 
(quoted from post at 10:32:47 06/23/10) Thanks for the info...that is what I thought, too.

......

Doesn"t really seem like a real "auction" does it?

Tim
Click to expand...

No, it doesn't. An auction house I regularly look at online has "bid subject to Bank approval" on a lot of bank seized items. I won't even bother to bid on those things. If you get a deal, chances are the Bank will nix it. In general, I see WAY too many things go for prices that leave you scratching your head about.
 
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