Scam? Can't figure it out.

[TMagda]

The members of this forum are the smartest guys I know so I thought I would throw this out for opinions. I was looking at bicycles on eBay today because I was thinking about getting a new mountain bike. I like Cannondale bikes so I did a search. Something very strange came up - 3 groups of very short (less than 24 hours) auctions for high end Cannondale bikes, all no reserve and all with opening bids of less than $1. Thet are also private auctions. The 3 sellers show very little history. Each group contains about 20 separate auctions offering what seems to be about 1 each of every bike Cannondale currently offers in any size. Almost like a bike store. What confuses me is how the seller can ensure that he gets a fair price for these bikes, assuming they really exist. I suppose he could keep track of all of the auctions and bid himself until an acceptable amount is reached. But that seems complicated and risky as well as having to pay eBay for buying items from himself. Anyway, I bid $10 on 5 bikes a few hours ago and nobody has out bid me yet. All of the auctions end tomorrow morning. Not sure what to think.

[TMagda]

Update: My bids were cancelled and the bikes removed. I received this email from eBay.

Our records show that you placed a bid on this item. We removed this item from the Site and cancelled your bid because it appears that the seller's account has been compromised and used by an unauthorized third party. The seller's privileges to trade on eBay may be temporarily suspended while we investigate this matter further. Due to privacy concerns we will not be able to share further details related to this seller

[GOAT72]

When they are Turbo-listed and are only up for a day, they are usually scams from Romanians who have phished an eBay account and password. They list for a single day and get off before the victim knows his/her account has been used. Then the vics are pretty surprised when they get an invoice from eBay for the 30+ auctions. http://www.yenko.net/ubbthreads/images/graemlins/eek.gif

Last week there was a major phish for eBay passwords that came out of Bucharest, so be prepared for an onslaught of bogus auctions.
The Romies know we all spend big bucks online during the holidays, so they are ramping-up their scamming activity.

Just remember: if it looks too good to be true, it probably is.
http://www.yenko.net/ubbthreads/images/graemlins/scholar.gif

[GOAT72]

[ QUOTE ]
Anyway, I bid $10 on 5 bikes a few hours ago and nobody has out bid me yet. All of the auctions end tomorrow morning. Not sure what to think.

[/ QUOTE ]

You have a good chance of receiving a "Second Chance Offer" in about 24 hours. The scammer will tell you the auction was taken down because of "Buy It Now" -- but the winner has defaulted. Then he'll offer you the item for a great deal.

By the way, if you get scammed now the Vlads always follow-up with a double-whammy:
The scammer sends an email to you and frantically explains that his shipping department accidentally sent you an extra item!!!! http://www.yenko.net/ubbthreads/images/graemlins/eek.gif
He will demand another payment for the 2nd item or he'll have to turn the shipment around. He will then offer you the 2nd item at half price in order to "save him from duty taxes and shipping". You'd be surprised at how many people send the 2nd payment.
http://www.yenko.net/ubbthreads/images/graemlins/mad.gif