Apparent eBay Scam

Steve’s Blog
Apparent eBay Scam

This stream was recently noticed by a friend of mine. He points out that the listing looks very much like a scam designed to get your money and your eBay identification. The listed car was a beautiful, original, low mileage 1967 E type roadster in British racing green.  It was an open headlight version, which detracts a little, but otherwise a very desirable car.  I would peg the value of this car at well over $50,000 based on the pics and description.  The seller was offering it for $14,800. One peculiar aspect was that I looked at the bid history, and he had received a number of higher bids….all of which the seller had evidently cancelled.  I guess he wanted to keep the price low to make it more appealing. The first paragraph below is the email complaint which my friend sent to ebay. 

Complaint emailed to ebay:
This listing clearly seems to be a set-up for fraud. The seller has cancelled lots of bids and is looking for a healthy deposit BEFORE any info is released. Also car is in U.S. and he is saying he is temporary in UK. Also it shows an unrealistically low price. Item number: 280214680491
Thanks

This is the seller’s response to a bidder’s inquiry:
Hello and sorry for coming so late but I had some problems with my internet connection. My name is Jxxxx Lxxxxx and I’m glad that you are interested in the car. I know that you have many choices on eBay and I appreciate that you contacted me. The car is in perfect condition, never raced or abused and has a clear title. The price for the car is $14,800 including shipping costs anywhere in the United States. The car was my brother’s who passed away 2 months ago in Iraq, it only brings me bad memories and I have no use for the car as I don’t have driver’s license. The car is currently located in Virginia and it will be shipped from there. I’m a veterinary, specialized in thoroughbred (horses) and for the next three months I will be located in England at a special training program. There are no other costs regarding this transaction. The transaction will be carried out through eBay, it’s the safest and the only system I trust, we will both benefit of their purchase protection policy. They will act as a third party in our deal, they will hold the money until the transaction is carried out. You will have to make a deposit of $ 2,800 to an eBay agent, and confirm your deposit to eBay. As soon as they validate your deposit, they will inform me and I will be able to initiate the shipping process. You will pay the rest of the amount only after you receive the vehicle and confirm everything is alright. I require your full name, address for shipping and eBay user ID. After I’ll send them all the info, eBay will contact you and give you all the details about the transaction.
Kind Regards,
Jxxxxx Lxxxxx

Steve’s Comments:

Buyer beware. Looks like a scam to me. Not a good idea just to send money to learn more about the vehicle. That is better done after an in-person inspection and an evaluation of the sellers situation, one that makes you feel comfortable.
Note: Well, Ebay is responsive to complaints of apparent fraud attempts.  It appears they have promptly removed the listing.

Steve’s Blog

I was reviewing a recently received listing of auction results from the Mecum auction held in Florida. I skimmed up and down the list a few times, then, I started looking at it harder. What came into focus was the fact that most of the cars pulled bids or sold at about where I would expect them. I mean, I have read many articles in the last 6 months that inferred muscle cars and performance cars in general were way off the mark. I am thinking the really expensive, after the last 2 years run up, Hemi, 454 ci, 427 ci, 455 ci type cars, are probably off from their highs, but most more general muscle cars and birds of a feather performance cars, seem to be bringing about the same prices they did 18 or 24 months ago.

The list below is a good example of what I am saying. Recognizing they are mostly cars that I favor, and pretty much follow, meaning I don’t know much about other types of cars. Look the list over. Do you see anything that looks real different from what you might expect? I know the list does not address quality, so you will just have to use your imagination some like I did. The point here is that the sky is not falling, at least not yet.
Enjoy.

Mecum Auction, Inc., Kissimmee, FL Auction Results 01/24-26, 2008

Selected Lot Numbers-
Lot No. Year Make Model Color Hi Bid Sold
T19 1955 Buick Special Green 16,275
T25 1969 Olds 442 Cpe Blue 28,613
T34 1971 Cad Eldo Conv White 13,125
T42 1966 Olds Cutlass Cpe Red 18,375
T47 1937 Buick Sedan Black 19,000
T62 1969 Pontiac GTO Judge Orange 52,000
T91 1987 Buick GN Black 15,225
T126 1987 Cad Allante Tan 7,000
T153 1957 Cad Eldo Brough Black 81,900
T167 1978 Cad Seville Blue 7,500
F1 1957 Chev Corvette Black 72,450
F4.1 1969 Chev Camaro Z-28 Green 52,500
F27 1968 Olds 442 Cpe – 17,325
F45.1 1969 Chev Camaro Z-28 Green 42,000
F50 1965 Pontiac GTO Red 44,100
F138 1987 Buick GNX Black 72,450
F225.1 1964 Pontiac GTO Red 38,325
F258 1970 Ford Mach 1 Black 30,713
F289 1955 Olds 98 Holiday Blue 16,000
S19 1966 Pontiac GTO Gold 32,550
S32 1971 Chev Corvette Yellow 47,513
S45.1 1969 Olds 442 Conv Black 69,000
S67 1967 Olds 442 W-30 Red 73,500
S77 1970 Chev Chevelle LS-5 Red 100,000
S109 1953 Chev Corvette White 249,900
S127 1967 Pontiac GTO Gold 110,250
S161 1969 Chev Camaro RS/SS White 78,750
S176 1969 Dodge Daytona Orange 131,250
S211 Chev Corvette Red 135,450

$15.2 Million Mecum Collector Car Auction Success

Marengo, IL. February 4, 2008 – The Mecum Auction Company, with corporate headquarters located in Marengo, Illinois, is in their 21st year of selling collector cars, specializing in Muscle cars and Corvettes. CEO Dana Mecum, when asked about the 2008 Kissimmee, FL auction said “Bidder, consignor and spectator spirit and enthusiasm was high, and although there was worry, action was not dampened by rainy weather.” “A 60% auction is a good indicator that the collector car market beats to its own drum while other markets and industries are currently adjusting to the recent fluctuation of stocks and oil prices.” Mecum sold $15.2 million worth of Muscle cars and Corvettes during its 3-day car auction in Kissimmee, Florida at Osceola Heritage Park. A total of 778 vehicles were offered with 445 cars selling under the hammer January 24-26, 2008.

Mecum remarked, “This year, we did not offer $1 million-$1.5 million vehicles as during our 2007 Kissimmee sale yet we still sold $15.2 million worth of Muscle and Corvettes. This shows Mecum’s ability to bring quality cars and strong buyers together in the Southeast sector of the United States.” Top sales for this auction include: A 1953 Corvette ($238,000.00), a 1965 Chevelle Z16 ($227,000.00), a 1967 Corvette 427/435 Convertible ($188,000.00) and a 1968 Shelby GT 500KR ($155,000.00).

Mecum observed “The top ten sellers at the Kissimmee auction were notably across the board in make and model. GM, Chrysler and Ford were all strong contenders on the auction block.” “We truly enjoy sales of this nature which represent a perfect cross-section of car enthusiasts and we are thrilled to offer a broad mix that satisfies every one of them.” Collector cars purchased at the Mecum sale represent bidders from around the world. A 1966 Mustang and a 1965 Cobra replica are on their way to Norway and many other cars are being transported to new owners in Canada.

In spring of 2008, Mecum will offer live auction coverage in HD TV on a major cable network and also offer their 50,000th car for sale at auction.