If you thought people bid silly amounts on ebay

Brooker_Dave

http://www.theguardian.com/money/2015/jul/18/auction-ebay-john-pye-bidding

Where all the returned stuff from Costco ends up

RFW

Brooker_Dave wrote: »

Where all the returned stuff from Costco ends up

Not all, each store manager handles their own returns and surplus stock.
Not a bad ad for them even though it seems to be putting them down.
There are certainly worse auction companies to deal with.

Brooker_Dave

RFW wrote: »

Not all, each store manager handles their own returns and surplus stock.
Not a bad ad for them even though it seems to be putting them down.
There are certainly worse auction companies to deal with.

People assume the £4 appliances will be new and perfect, and not the broken ones that have been returned.

This is the problem of opening up trade only to everyone.

RFW

Brooker_Dave wrote: »

People assume the £4 appliances will be new and perfect, and not the broken ones that have been returned.

This is the problem of opening up trade only to everyone.

Sadly, it's always been the case. Every recession brings a round of people with redundancy money in their pocket. They see a £10 item selling for £1 and get pound signs in their eyes. Before you know it they've wasted a few grand and are back working for someone else.

The scale is bigger now as everyone thinks they can do well at it.

The amount of people that just don't view stuff is astounding. As an auctioneer it's not possible to stop people bidding too much. I've been both sides of auctions for years, I've even tried telling people that they're paying too much to help them out. Most of the time it falls on deaf ears.

I recently saw a catalogue from someone I used to deal with, it was something like 600 pairs of shoes. 10 years ago they would have sold 6 lots of 100 pairs, now it's 600 lots.

mrcol1000

Have never used this website but used similar auctions directly. Seems to be a lot of out of date food from CostCo selling for more than you can buy it new and in date. Also a lot of people complaining that they don't realise that there is a buyers premium, VAT and other charges of up to 45% on your bid price.

You can get a lot of deals though if you know where to look and spot what other people have missed.

Hermione_Granger

Brooker_Dave wrote: »

People assume the £4 appliances will be new and perfect, and not the broken ones that have been returned.

This is the problem of opening up trade only to everyone.

IMO, the problem with what you describe is not due to opening the auctions to everyone but it is due to people not actually reading up on what they are bidding for before actually bidding.
If bidders make incorrect assumptions despite there being plenty of information available on the auction website, whose fault is that?

Lots originate from many sources including customer/retail returns, salvage, bankrupty, ex-display & repossessions; Via clients from high street retailers to Insolvency Practitioners & Receivers - NOTE: No lots at our public auctions are sold as being new, working, complete or fit for any purpose. All lots are strictly Sold as Seen with No warranties or guarantees.

mrcol1000

Hermione_Granger wrote: »

IMO, the problem with what you describe is not due to opening the auctions to everyone but it is due to people not actually reading up on what they are bidding for before actually bidding.
If bidders make incorrect assumptions despite there being plenty of information available on the auction website, whose fault is that?

I can sort of see what RFW is saying. The general public are enticed into these auctions and assume that they have the same rights as buying from a supermarket. A couple of auctions I go to now are targeting themselves at the normal consumer as buying things for your house cheaper than normal shops. They do have terms and conditions but do not really make it clear that if the thing is faulty or damaged (which it normally is) then tough luck.

People should check things before they commit themselves but then how many people on Ebay buy an Xbox box for £300 even though it clearly says you only get the box?

Ting-Tang

Caveat emptor.

RFW

Hermione_Granger wrote: »

IMO, the problem with what you describe is not due to opening the auctions to everyone but it is due to people not actually reading up on what they are bidding for before actually bidding.
If bidders make incorrect assumptions despite there being plenty of information available on the auction website, whose fault is that?

I largely agree. There are still some unscrupulous characters that run auctions. I could send you to one who will describe everything whilst selling it as "new", whether second hand, return or whatever. They get enough new customers through their doors that it makes no difference. They've been fined a few times and gotten away with things a few times.
There are also other dodgy practices that go on that can easily hoodwink an inexperienced buyer.
Many auctions are not selling on behalf of other companies but are buying it and selling it on themselves. They will do whatever they can to make sure they get the best prices.
Auctions are not consumer sales, although with more and more simply retailing (ie selling one item at a time) it won't be long before they are clamped down on.
This is a general statement about some auction houses and no reference to any companies mentioned in the article in the opening post.