10-13-2009, 08:44 PM
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CC Member
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Join Date: Feb 2004
Location: Outside Miami,
FL
Cobra Make, Engine: Several
Posts: 949
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Not Ranked
Correct. A buy-back is not at all a shill bid under most cases... far to costly an experience. It is typically rather an example of a failed auction strategy on the buyer's part. Should have set a reserve and paid for it, if the prices are dropping.
It would be unwise for anyone to believe there are foolproof auction controls over any part of the process, including timely remittance of funds and delivery of cars. Find out where your car is going for secure storage until you get the doe-ray-me.
We all watched REIT real-estate swaps to "fix" (hide) poorly performing mortgages in the past and strange price increases of rather common Ferrari's "sold" between dealers at auction in the early years after Enzo's demise.
Guess i won't sell baby just yet. Got to tell wifey the new house must wait, perhaps another year.
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Last edited by What'saCobra?; 10-13-2009 at 08:48 PM..
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