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Bargain Coins

Refund or item?

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Bargain Coins    10
Bargain Coins

To me auction is a gamble, sometimes you win sometimes you loose. certainly all buyers want the best in a bargain and the sellers want the highest price. Thus said my question now refers to a sale on auction. If the seller list a brand new mercedes valued at R200k at auction starting bid at R1 with no reserve, and the bid gets closed at the time as the listing stated on the buyer with the best bid of R10K.

To my knowledge the seller by contract MUST give the Mercedes to the bidder after the payment of R10K is paid to the seller.

 

after 20 days of payment to the seller, lots of unanswered calls and emails, now the seller offers to refund the R10K.

 

Can BOB advice the buyer what to do as the concern here is that the R10K on payment to the seller and closure of the auction are now valued at R200K (Mercedes).

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wayjen    10
wayjen

Seller who sell something on a R1.00 and lose money and do not honour their auctions should get negative ratings and other buyers should be alerted to this and or these sellers should be hauled over the coals. These people are no different to someone asking a friend to push up the price on a listing of theirs so they can make plenty money.

 

How much interest is paid out for R10k sitting in a bank somewhere for 20 days?

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Bargain Coins    10
Bargain Coins

I think BOB must look into these sellers that auction or sell items not in their possession at the time, but still must be ordered from overseas. the seller don't capture a profit to order the items so a quick escape of refund is offered. say i play a R2 lotto ticket and this ticket wins R10k, surely lotto cannot just reply to say "sorry here is your R2, try again later"

 

As in the first case surely the R10K to the buyer changed value at the fall of the hammer to the value of R200k as the seller valued the car. The buyer can insist on that value as a claim, for if he took the car and say resold it for R200K to another the original R10K would show a profit of R190k.

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Just Beachin    10
Just Beachin

If your willing to stick it out for the 'principal" many university's have law clinics that sue pro Bono (meaning they get paid by winning the law suit).

I wish you luck, cause he is wrong.

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qball    10
qball
To me auction is a gamble, sometimes you win sometimes you loose. certainly all buyers want the best in a bargain and the sellers want the highest price. Thus said my question now refers to a sale on auction. If the seller list a brand new mercedes valued at R200k at auction starting bid at R1 with no reserve, and the bid gets closed at the time as the listing stated on the buyer with the best bid of R10K.

To my knowledge the seller by contract MUST give the Mercedes to the bidder after the payment of R10K is paid to the seller.

 

after 20 days of payment to the seller, lots of unanswered calls and emails, now the seller offers to refund the R10K.

 

Can BOB advice the buyer what to do as the concern here is that the R10K on payment to the seller and closure of the auction are now valued at R200K (Mercedes).

 

As a bidder you have the right to sue the seller, whether it would be worth it financially is up to you. You can lodge a complaint with communitywatch@bidorbuy.co.za, and we will warn the seller about this conduct or if this is a regular pattern, we can take further steps against his account.

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