Re: Auction of various Shindo items on AG

[tonyd]

What happened there? Supposedly closing 27th June, I got an email today saying:

'We regret to inform you that the auction you hold the high bid on,

Shindo Upgraded Power Cord 8 ft.
- Shindo Upgraded Power Cord 8 ft. | AC Cables | Tampa, Florida 33606 | AudiogoN - The High-end Audio Community

is no longer active. We apologize for the inconvenience'

All the listings have been removed. Strange way to conduct an auction. Is there a story behind it?

[sibelius]

Sounds like either the guy backed out last minute with sellers remorse or there was something fishy going on where the site pulled the ads. Either way, that's unfortunate for all the folks who put in bids.

[Cucumber_Jones]

That is odd. He had a nice system for sale. Looks like he pulled the while thing. I hope he explained to the high bidders. Odd move for a "federal agent".

[Myles B. Astor]

One wonders if someone didn't hack his account, use his positive ratings and fraudulently post the ad.

[tonyd]

I thought the seller had posted earlier on AA saying that he was about to sell all his gear, and then the items were listed on AG 20/6 with an auction duration of seven days. As a current high bidder on two items I have heard nothing from the seller, only the email from AG.

[Freestone]

He decided to sell it as a package, and cancelled the auctions

Of course, this is contrary to the terms of the auction and actually against state law (most states adopted the UCC which bans removing or stopping an auction when any bid clears the reserve or if it was a non reserve auction as in this case.

In any event, file a complaint with audiogon.
There is recourse.

[Cucumber_Jones]

Originally Posted by Freestone

He decided to sell it as a package, and cancelled the auctions

Of course, this is contrary to the terms of the auction and actually against state law (most states adopted the UCC which bans removing or stopping an auction when any bid clears the reserve or if it was a non reserve auction as in this case.

In any event, file a complaint with audiogon.
There is recourse.

If he is a federal agent someone should remind him of the law. His actions are BS!

[Freestone]

I spoke to him about the speakers. Really is a fed, specializing ironically in cyber crime! He didn't care about the rules/contract law.

Interesting dilemma - I can see why he would want to sell as a package but then he should have auctioned it all as one package or made it conditional. I think he was hoping for the best of individual high prices or a negotiated package deal. Once you make an "offer" in an auction the bidder accepts it by bidding - and the bidder is legally bound so you couldn't walk away either. I agree it's not right for one party to be bound and the other to be able to walk away, which is why the law exists.

Pretty clear how it would end for a high buck painting at Sotheby's - maybe assumes no one cares enough here about stereo gear?

Otherwise seemed a decent and sympathetic guy

[bradleyc]

Apparently it's all right to break the law when his money is at stake?

[xronx]

Hi,

Hmmm over here in Germany you can even close an auction on Ebay with bids already on it.

I dont think its a bad thing. Many professional dealers who run a recordstore for instance, list their records also in auctions, so they can sell it in the store in parallel. Or other case...I sell something (a car for instance) and it gets destroyed while already someone has a bid on it.

I think the seller should have the right to close a auction whenever he/she wants.

Just my opinion...

Ron