February 23, 2008

$3 million bid for a huge record collection offered on eBay …a fraud

Filed under: eBay Scams in the News — admin @ 3:03 am
A $3 million bid for a huge record collection offered on eBay was apparently a fraud.An agent for the sale, J. Paul Henderson, said an eBay executive notified him Feb. 22 that a bid of $3,002,150 for nearly 3 million vinyl albums, singles and CDs was not legitimate and that the bidder’s account had been suspended, the Pittsburgh Post-Gazette reported.Paul Mawhinney, 68, of Ross Township near Pittsburgh, said he began collecting the records when he opened his record shop, Record Rama, in 1968. He closed it Feb. 21.”I am legally blind,” he said. “I had a couple of strokes a few years ago … and it’s time at my age to think about doing something else with my life.” Mawhinney said Saturday that he had contacted six other eBay bidders and three others who approached him independently. “It’s still going to happen,” he said.references: Record Rama bidder turns out to be a fraud

Obviously eBay management’s LAX approach to fraud created yet another eBay ex-customer.

If eBay management thinks that fraud does NOT hurt their business, they are mistaken. 

…. eBays glory days are gonne.   ”IF you build it and they will come” does not appy any more…. if you hold EBAY share you shoulda sold on that brief spike last year, but perhaps eBay 2B share buyback crew will blow the bubble back up for you sometime in the future again…

UPDATE 3-31-2008 The music collection seller gave eBay another whirl, See this auction for $3,000,000 record collection on eBay and as predicted there were ZERO bids. All the noise about eBay fetching fabulous sales … hmmm… not for this boy! eBay has collected another dissappointment and lost another customer.

… in the meantime, hold your breath on those exciting auction news, you have been here for those fabulous eBay sales, they all proven FRAUD

eBay Bidding Hits $400,000 for Sweatpants Signed by Gary Cole
here is the real scoop on that… the $400,000 was fake the pants went for $500

Jimmy Kimmel Wins Gary Coleman’s Sweatpants At Auction

 We all remember the previous record breaking closed auction on eBay:  the $9,900,500.00 John Schnider “General Lee” Fiasco On eBay Motors which also turned out to be a HIJACKED account with fake bidding activity.

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