Overpriced eBay auctions, money laundering?

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mickday

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Jun 23, 2014
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Location
Lincolnshire
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W212 E63
Seeing the post regarding used tax discs reminded me of a question I often have regarding auctions on eBay

You only simply need to do a search for sold items ordered highest price first and you see some everyday stuff having sold for ludicrous prices, such as iPhone 4 & 5 for over £8,000 and of course used tax discs for £1,000

I can only presume they have been liable for the eBay fees which in the case of the iPhone would have been more than the phone was worth!

What is going on, money laundering or just people having a laugh?
 
A forum member posted a Loom Band dress? that was on Ebay which reached £170k. In the end, the winning bidder didn't have the money to buy (or any money at all) and neither did any of the subsequent highest bidders. AKAIK, no action was taken against them.
Regarding the OP, people are idiots and no-one seems to hold them accountable for their stupidity.
 
Mick, I suspect there is a combination of things going on here. 1. Some sellers take the p*ss and hope some unsuspecting buyer will pay over the odds 2. there is definitely an element of money laundering going on. In respect of point 2, criminals will try to legitimise their cash by filtering it through online transactions. Or, they pay cash for a service and then cancel the service and receive a credit note or cheque or electronic payment back from the company/person they paid that cash to thereby legitimising the monies.

If anyone attempts to buy a car from you for cash, especially anything over £2k, be very diligent in getting their full and verified personal details. I had this issue with someone wanting to buy my VW Passat for £9.5k but after I asked for them to sign a sales letter and to provide a passport as proof of id, they suddenly changed their mind.
 

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