Hi,
I recently won an auction on Ebay for over $12,000 in machinery from a guy closing one of his auto shops, for under $50. His listing had no typos as evident by having 75 hits. He can not claim ignorance for not having a reserve price because he had used a reserve in past auctions. I don't know what happened with this listing. Nobdy wanted it and I got it (very)cheap. I know that a completed auction, seller and winning bidder, along with consideration (I sent payment via Paypal over a week ago, it was accepted) is suppossed to be binding. We are both in CA and I know how to locate this person, they have another shop, although to this point they have been dodging me. I know that I can resell this equipment for $2,000-$3,000 (the equipment was fairly new, they were willing to fax the receipts for proof). My questions are: 1) Is this a legally binding contract? 2) What are my chances of getting this equipment? 3) Is this something that could be pursued in small claims, by either getting the equipment, or damages? The equipment was bought for around $12,000 but market value now puts it at under $5,000. Any insights would be appreciated.
I recently won an auction on Ebay for over $12,000 in machinery from a guy closing one of his auto shops, for under $50. His listing had no typos as evident by having 75 hits. He can not claim ignorance for not having a reserve price because he had used a reserve in past auctions. I don't know what happened with this listing. Nobdy wanted it and I got it (very)cheap. I know that a completed auction, seller and winning bidder, along with consideration (I sent payment via Paypal over a week ago, it was accepted) is suppossed to be binding. We are both in CA and I know how to locate this person, they have another shop, although to this point they have been dodging me. I know that I can resell this equipment for $2,000-$3,000 (the equipment was fairly new, they were willing to fax the receipts for proof). My questions are: 1) Is this a legally binding contract? 2) What are my chances of getting this equipment? 3) Is this something that could be pursued in small claims, by either getting the equipment, or damages? The equipment was bought for around $12,000 but market value now puts it at under $5,000. Any insights would be appreciated.
