Originally Posted by Laszlo
I'm pretty sure when you have a BUY IT NOW set price you must EXCEED that price to actually win the product.
If the listing didn't have BUY IT NOW, then you'd have a case. Other than that, the bidding portion is only there to see if bidding can exceed the BUY IT NOW price.
Sorry dude. It's reality.
The guy should not have said it was a mistake. He or she doesn't know the eBay rules and gave you the wrong answer. He or she should have explained the rules to you.
100% inaccurate. As a successful eBay Powerseller let me clarify...
Buy It Now price (aka BIN) is exactly what the name states... the price you will pay for the item (shipping, tax, insurance may be extra.. always read auction terms carefully).
Sellers often create "hybrid" auctions which have a starting bid and
a BIN price. Once the first bid is placed, the BIN option disappears (unless there is a reserve price which has not been met).
In the case of the e90 M3 auction there was no reserve set by the seller most likely because they wanted to draw attention/create competition in an attempt to sell the car at MSRP+. It's a chance they took and they lost. It happens everyday on eBay, sellers create listings at attractive prices hoping to sell at premiums and at the same time market their other listings. In this case the buyer was at the right place at the right time, but more importantly nobody else was there that was serious about purchasing the car.