New GT3/GT2RS Leads With/Without ADM
03-07-2019, 05:05 PM
#3991
It's states the car is sold, it states a sale price, but we don't know if the buyer submitted payment and the deal went thru, or if the seller kept the car, what's hard to understand?
03-07-2019, 05:11 PM
#3992
Rennlist Member
03-07-2019, 05:12 PM
#3993
There is a contract that each seller and buyer enter by agreeing to list on the site and agreeing to bid. It's always possible a deal will fall through somehow, but BAT is a well established boutique site that would be hurt by buyers or sellers backing out and imagine they make sure that doesn't happen with as much power as possible.
03-07-2019, 05:13 PM
#3994
Pro
Buyers decides to back out and not transfer funds. In this case, the seller could try and back out of the deal in some other manner. Happens all the time.
03-07-2019, 05:13 PM
#3995
03-07-2019, 05:41 PM
#3998
Of course you can use it as a comp. No other bidders bid higher which means that the specific car through that specific medium is worth $155k plus $5k buyer's fee.
03-07-2019, 06:00 PM
#3999
03-07-2019, 07:34 PM
#4000
If all you know is the bid, it’s useless data as regards market value. Just because nobody bid higher doesn’t mean that’s the value of the car, unless a seller actually agrees to the sale and a transaction really occurs. In this case, the seller was stupid if he agreed to such a low reserve and sold at that price. There are cars transacting at much better price levels.
03-07-2019, 07:42 PM
#4001
03-07-2019, 07:54 PM
#4002
That would be the smart thing to do. Not necessarily the right thing to do, but I expect he would lose access to the site. It’s possible, although not sure how likely, they could be sued since they are entering a contract to sell by listing on there.
03-07-2019, 08:10 PM
#4003
BAT automatically charges you a chunk of the auction price at the end of the auction if it's successful. It's a legally binding contract - it's extremely rare to see a deal on there not go through. This is as real of a comp as you can get.
Source: I've bought a car on BAT.
Source: I've bought a car on BAT.
03-07-2019, 08:14 PM
#4004
Rennlist Member
Originally Posted by kpflynn
BAT automatically charges you a chunk of the auction price at the end of the auction if it's successful. It's a legally binding contract - it's extremely rare to see a deal on there not go through. This is as real of a comp as you can get.
Source: I've bought a car on BAT.
Source: I've bought a car on BAT.
03-07-2019, 08:20 PM
#4005
BAT automatically charges you a chunk of the auction price at the end of the auction if it's successful. It's a legally binding contract - it's extremely rare to see a deal on there not go through. This is as real of a comp as you can get.
Source: I've bought a car on BAT.
Source: I've bought a car on BAT.