Should Sellers be comeplled to sell below cost in the case of Auctions

[srjsms]

this is an interesting topic... even though we know that a seller is bound to honour the winning bid...there are several opinions as to whether he should give the item for a price much below the cost..in my earlier post..my good friend..stated that i wud be a fool if i expected a seller to give a product below his cost..even though i am a winning bidder.... say a seller listed a Mobile costing 45000 on Rupee auction... the winning bid was Rs. 28000/- is the seller bound to sell at this price... if he doesnt..what are the remedies avaiable.... as a buyer if a seller can default on his commitment....why is a defaulting buyer treated differently...??? Members...the floor is open!

[karanmalik]

I actually agree with the pragmatic approach of Mr. Kakkar. You take the good with the bad. Surely, at some point, we all have sold items which have gone abpve our expectations.
And thats really the beauty of ebay. You dont quite know what you are going to get.
As far as compelling the seller to sell below the MRP is concerned, I totaly do not agree with that. I think it is highly impractical. First and foremost, everything does not have a market price. And the best way to determine the market price is by demand.
Assuming I have a 200 year old rare coin, its face value may only be 1 anna, or less, but its true value is much more than that. If i were to sell it on ebay, I would definatly want much more than 1 anna!:)
Take the bad with a pinch of salt, and carry one mate!

[emailswarup]

Hi Umang (indconcepts),

You are right that any XYZ seller should not be allowed to list high value items. There must be some criteria to list items of more than 10000 because that's the max. limit of refund one can get from eBay in case of a non-delivery for fraud or other reasons.

I suggest that to list single item worth more than 10000 , the seller must have sold an item of say 7500 / 8000 (i.e., 75-80% of the primary max. limit value) or should have sold items of total worth 20000 in last 1 year, with non-negative feedbacks. I do not think this will be too bad because in almost all tenders there are pre-qualifications of similar nature. Best Regards 😄
Swarup Dutta
Kolkata

[srjsms]

Gud observation....sawarup..but what if a Nokia priority dealer..having excellent reputation in Offline Trade..wants to try his hand in ebay..?? this wudnt be fair right ???

[amitava123gems]

Hello friends,International buyers are definitely better buyers.Not that they have buying power.They buy cheap also.But they keep up commitment.Truly,,Amitava

[emailswarup]

Hi srjsms,

I agree that its not fair, but when you purchase a tender there are always such pre-qualifications. Nokia also have multiple good models below 10000. So he can just sell one such, just below the 10000 limit, get a non-negative feedback against that and double his/her max. listing value.

I am only worried because the frauds are cheating lacs every week just by selling high value items at a heavily discounted price and then fleeing with the money. The unfortunate bidders can get a refund only upto 9950, that too excluding the courier charges. A pre-qualification like this will mean that eBay has to bear the loss for their fault of poor legal action against such frauds. Actually there inadequate action in this regard is encouraging the frauds like Shakawat Hossain. This fraud has already cheated several lacs as evident from the board. But people have so much money that they complain on board but do not seem to take proper legal actions to recover that. In the West the law enforcement agencies would have surely intervened by now to stop this. Our legal system is truly blind and too corrupt to act for the people. May be they are too busy to save the corrupt politicians , ministers and their relatives.
. Best Regards 😄
Swarup Dutta
Kolkata