SO...how come??

saskman1950

saskman1950

608
saskman1950
Recently I was in the AH and bid on a Ferrari 250 GTO for $8.2mil. I won the bid and went to resolve the auction and the payout was $9.2mil...

SO how come??

I bought out a vehicle for $175,000 and was billed the same amount ($175,000)

Then (bear with me on this one) I bid on another car for $325,000 and won. Resolved the auction for $415,000

SO how come??
 
MuchoJimbo
Processing and handling fee! Those paper pushers have to make a living too ya know.
Click to expand...

I would buy that if you weren't dinged when you sell cars.
As you are warned ahead of time....

I get a handling fee for goods bought, like taxes....but why then is it only on bids and not buyouts???

Hense the thread "So how come??". :confused:
 
browneyedman
Recently I was in the AH and bid on a Ferrari 250 GTO for $8.2mil. I won the bid and went to resolve the auction and the payout was $9.2mil...

SO how come??

I bought out a vehicle for $175,000 and was billed the same amount ($175,000)

Then (bear with me on this one) I bid on another car for $325,000 and won. Resolved the auction for $415,000

SO how come??
Click to expand...

ObamaCare:grumpy:
 
browneyedman
Recently I was in the AH and bid on a Ferrari 250 GTO for $8.2mil. I won the bid and went to resolve the auction and the payout was $9.2mil...

SO how come??

I bought out a vehicle for $175,000 and was billed the same amount ($175,000)

Then (bear with me on this one) I bid on another car for $325,000 and won. Resolved the auction for $415,000

SO how come??
Click to expand...

What do you mean by the payout was 9.2 Million? Did you actually pay 9.2 Million? Or did it just show 9.2 Million, but you've payed 8.3, i.e. what you've bid? Generally, in auctions, it shows the amount the next bidder has to pay for it. So, if you bid 8.3 Million, it jumps to 9.2 Million, because that's what the next guy has to pay in order to outbid you, but you're still only going to pay 8.3 Million for it if nobody outbids you.
 
doctorrg
What do you mean by the payout was 9.2 Million? Did you actually pay 9.2 Million? Or did it just show 9.2 Million, but you've payed 8.3, i.e. what you've bid? Generally, in auctions, it shows the amount the next bidder has to pay for it. So, if you bid 8.3 Million, it jumps to 9.2 Million, because that's what the next guy has to pay in order to outbid you, but you're still only going to pay 8.3 Million for it if nobody outbids you.
Click to expand...

I had a conrimed bid of 8.2
The when I resolved the auction I was billed 9.2
 
browneyedman
I had a conrimed bid of 8.2
The when I resolved the auction I was billed 9.2
Click to expand...

So you've confirmed 9.2 Million left your bank account, it didn't just show 9.2 Million on the auction? It should show 10.1 Million on the auction if you've bid 9.2 Million.
 

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