Back Up again from GP auction?

[BadRobot]

I just curious. I bided on M1102 trailer and I did not win. The selling price was $1,3xx. A couple months later, it showed up on GP listing again. Then bided on it. I did not win the second time. The selling price was $9.xx. Then the same M1102 showed up the following week. I bided on it again for the third time but did not win. The selling price was $6xx. Then it showed up for the fourth time in the following week. I bided on it again but did not win. The selling price was $9xx.

My questions are:
1. Can bidder back off from the auction?
2. Is there any insider from GP to perform a fake bid to stir up the price? I have no prove but just a question. M1102 is not expensive. I don't think someone would spend their time to stir the price up but it is possible. Otherwise, how come the same M1102 showed up 4 times.

 

[simp5782]

People do default on bids and they get reposted. They have to pay a fee to bid on stuff ever again

Sent from my SM-G860P using Tapatalk

 

[63foxtrot]

I did.

 

[saddamsnightmare]

July 9th, 2016


Rich bids for that particular unit. Just goes to show you a fool and their money can often be separated.

 

[BadRobot]

I did.

What happened after you backed off?

 

[reaper556]

I did.

What happened after you backed off?

I'm curious

 

[reaper556]

As to the original question jwade has said in the past they have about a 30% default rate but 4 times on the same unit I'm not sure about.

 

[fuzzytoaster]

I've seen a few items get recycled 3+ times over the course of a few months. I can understand if the item is immediately relisted if the buyer backs out and pays the fee but I can also see why GP might hold onto the item and relist a short while later. I know from the GL days if a truck got relisted multiple times in a row without a break something beyond what the photos could show was wrong with it and may have been worth abandoning it. With GP it's hard to say if it's a buyer default on purpose, default by accident, "not as described", or worse.. you just never know.

 

[63foxtrot]

I'm curious

I rather not say anything on the open forum. Lets just say I don't believe in coincidence.

 

[simp5782]

Final Selling Price Ranges	Default Fee	Late Payment Fee (per business day per item)
$2,500 or less	$500	$10
$2,501 to $10,000	$1,500	$25
$10,001 to $25,000	$2,500	$50
$25,001 to $50,000	$4,000	$100
$50,001 to $100,000	$5,000	$250
$100,000 or greater	$6,500	$250

 

[TacticalTruck]

They've already relisted two trucks from this weeks sale. Seems a bit quick for a buyer default.

 

[rhurey]

Terms are payment in three days, right?

"Hey honey, do we have 8k in checking?"

Wonder how often that causes a default.

 

[BadRobot]

Are there internal snipers to bid complete us?

 

[porkysplace]

Are there internal snipers to bid complete us?

 

[FloridaAKM]

I sure hope not................

Are there internal snipers to bid complete us?

 

[Suprman]

Does seem strange. One truck I had bid on had a 6500 starting bid last week now listed with a 10k starting bid and it only went for 9k at previous bid.

 

[reaper556]

Does seem strange. One truck I had bid on had a 6500 starting bid last week now listed with a 10k starting bid and it only went for 9k at previous bid.

It seems the quality of vehicles is diving down and the price they want to make is going up

 

[Suprman]

Price gouging. Gov contract specifically states for sale at public auction to the highest bidder.

 

[porkysplace]

Price gouging. Gov contract specifically states for sale at public auction to the highest bidder.

Could you post a link to the contract and the section that states that .

 

[Suprman]

It's in the contract and the fed statutes. Designed so no one can structure sales to profit more than they normally would, regardless that the government could get more profit also. http://www.dla.mil/Portals/104/Docu...ng Stock CV4/DISP_CV4RMasterIFB92_150820.docx