Honouring A Bid | Ramblings of an e-trader

Thursday 27 August 2009

Honouring A Bid

It looks like it is not only happening on eBay Malaysia where eBay and Lelong bidders do not honour their bids. First, there was the radio talk show host who placed his bid on the rights to name a baby boy due September with no intention to win, though it looks now that he did have the intention to help jack up the price, and then there is the Japanese who placed a winning bid of US$4,602,100 for the crypt above Marilyn Monroe's at the Westwood Village Memorial Park Cemetery.

It looks like when people sign up to be a user of eBay, or any other website for the matter, they fail to read the fine lines of the terms of use. On eBay, a bid is a contract and one should honor it. Of course, if the winner backs off and the seller accepts his/her reason, then all is fine and well but if the seller wants to be mean, he/she has every right to.

I have to admit, I have backed off an auction before after winning it. It was a long time ago on Lelong when I was still a green horn. Luckily the seller was very graceful about it.

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