The exact language from eBay:
"Dear kctommy,
Another eBay user has outbid you on the following item!
Mint!! GUERCIOTTI 61cm Frame and Fork ~80's The current bid amount is: $11.50 The auction closes : Mar-31-01 13:01:18 PST
You can place another bid to stay in the running. Just visit
http://ebay.com/
>>>Of course, your existing bid may be reinstated if this competitor's bid
falls through.<<<"
(My emphasis)
I believe I've heard of at least one instance where the seller insisted that the prior bidder was obligated when the second bidder's bid "fell through". I don't know the ultimate outcome, but by this language, eBay is saying you are obligated. If anyone knows differently directly from eBay, I would appreciate knowing the circumstances. I learn something new everyday, which means at 40 years I was pretty ignorant before.
Tom Adams, Kansas City
-----Original Message----- From: John D <bikehunt@pacbell.net> To: KCTOMMY <KCTOMMY@email.msn.com> Date: Thursday, March 29, 2001 2:11 PM Subject: Re: [CR]Is "ICHIY" getting BAMBOOZLED again on eBAY?
>"then the seller
>contacts you to tell you the high bidder backed out and you must now pay
the
>entire maximum bid amount."
>
>If the high bidder backs out, no other bidder is under any obligation to
>the seller, whatsoever.
>
>John Dunn in Napa Valley
>
>
>----- Original Message -----
>From: KCTOMMY <KCTOMMY@email.msn.com>
>To: <BukasNaLang@cs.com>; <classicrendezvous@bikelist.org>; Monkeyman
><monkey37@bluemarble.net>
>Sent: Thursday, March 29, 2001 3:07 AM
>Subject: Re: [CR]Is "ICHIY" getting BAMBOOZLED again on eBAY?
>
>
>> I think the suspected monkey business (sorry, couldn't resist) is the
>> possibility that Juyrecod2000 is fictitious, and was created soley to
>> exploit Ichiy's automatic bid. If I recall, all you need to set up an
>eBay
>> ID is an email address. So it's possible that Juyrecod2000 is a friend
or
>> alias of the seller, whose assignment was to plumb deeper into Ichiy's
>> automatic bid amount without the intention of ever buying the piece.
>>
>> Of course it could just as well be that Juyrecod2000 was a new bidder who
>> really wanted the seatpost and legitimately bid $145, but couldn't
>outmuscle
>> Ichiy financially. I am surprised that someone would go to $150 in his
>> first auction. I suppose that is the root of suspicion. I know my first
>> buy was something like $10, and I sweated bullets over that one until it
>> arrived.
>>
>> The moral is be careful with automatic bid amounts, keep them reasonable.
>> There are legal (although perhaps immoral) ways for sellers to draw out
>> your maximum bid. The only totally "against the rules" practice is to
>have
>> an accomplice overbid so you're reserve price goes public, then the
seller
>> contacts you to tell you the high bidder backed out and you must now pay
>the
>> entire maximum bid amount.
>>
>> Tom Adams, Kansas City
>>
>> ----- Original Message -----
>> From: Monkeyman <monkey37@bluemarble.net>
>> To: <BukasNaLang@cs.com>; <classicrendezvous@bikelist.org>
>> Sent: Thursday, March 29, 2001 8:28 AM
>> Subject: Re: [CR]Is "ICHIY" getting BAMBOOZLED again on eBAY?
>>
>>
>> > >This Simplex post was put on eBay on March 23. On March 24, 2001, an
>> eBay
>> > >screen name, "juyrecod2000" with no feedback was created and pushed
the
>> price
>> > >of the seatpost for our friend Ichiy to over $150. This does not
>strike
>> me
>> > >as fair. Any comments?
>> >
>> > Define unfair and why you think it's so. Do you feel Ichiy is more
>> > deserving than juyrecod2000? If you think people with no feedback
>> > shouldn't be able to bit one parts you're missing the point of an
>on-line
>> > "auction house." Everybody needs to start somewhere and I've said it
>> > before that people should be able to spend their money on anything they
>> > like. In my eyes the only seatpost that is worth $150 is jewel
>encrusted.
>> >
>> > enjoy,
>> > Brandon"monkey--only one feedback--man"Ives
>> >
>> > !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
>> > Nobody can do everything,
>> > but if everybody did something
>> > everything would get done.
>> > -Gil Scott Heron-
>> > !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!