I don't know how to emphasize the "I" here. I also didn't say 'no one'. Bottom line is that the entire write up makes BaT look bad. Judge can decide if there is validity or not. Anyways, I said that original comment somewhat jokingly.

 

There’s no libel.

It is no different than saying there are scammers on FB marketplace.

People have been saying they got scammed on eBay for decades.

 

Sure. But they didn't call out eBay or FB for being a Laundromat. lol.
Just saying. There may be no case, but I sure as hell am glad I'm not throwing anyone under the bus here.

 

The fugazi sales as it were could and would only apply to a very few “unobtainable” cars from Porsche and maybe Ferrari. The vast majority of BaT sales are legit transactions that are as they appear.

 

Are you involved in the market making/pumping on BAT ? You seem awfully committed.

 

LOL. Rennlist has a tendency to drag you into arguments debates.

 

Complements to the OP for doing all the research, but things like this happen in a capitalist society. Most of the public would view this issue as a first world problem. As someone mentioned earlier, in this environment, you have to pay to play. Good news is we all have a choice to buy or not. If enough people don’t buy, prices should come down. I don’t see big price changes coming anytime soon. The market among other assets has provided a lot of disposable income for millions of people. Like many here, I’m learning this the hard way having purchased multiple cars over the last year and paying at or above MSRP. It was my choice and decided to pay to play.

 

You can clearly see how people who have vested interest in values going up are so upset in this thread.

Love the modern age

 

Well, we almost made it to page 4 without politics.


Everyone is for capitalism until it exceeds their pay grade.

 

Weird interpretation of my comment being political. It was more financial considering the OP discussed finances in his post.

 

Not you, 3-Pedals.

 

I wasn’t referring to you at all.

No problems mate 😎

 

I smell a lawsuit by some consumer groups...this clearly is collusion

 

I dont think BAT does anything wrong or illegal here but how ineffective their platform is to catch this type of shady bidding allows these dealers to do what they do.

BAT has recently implemented two factor authentication. They can go a step further and require IDs from members to be submitted so that they maintain a database of users whose IDs and their real identities are known. This will make it extremely challenging for what the theory here states happening to take place.

They could also further implement more sophisticated bidding techniques where each bid costs money unless you lose an auction genuinely or you get outbid by a certain threshold. If you win an auction or you lose an auction meeting the criteria, BAT refunds these small fees. A simple model can easily detect people who have no intention to win an auction from genuinely interested parties. This is also solvable easily.

 

Since BAT is essentially a highly visible matchmaking service, with no role in actually completing or verifying a deal, it is ripe for this type of market manipulation.

The only way to prevent this is to have BAT be the financial intermediary, where they collect the winning bid and transfer to seller. Even if they charge an extra fee for this service, they may still make more money off these fake transactions.