A Rough but Restorable 1959 Convertible

[savemy67]

All,

I think R. Waligora makes a good point about the price on e-Bay being manipulated.  From the beginning of time, certain characters have been interested in cornering markets.  About a year ago, oil was over $110 per barrel.  Six months later the price was under $50.  The world had not cut its oil use in half, nor had worldwide production doubled in six months.  Supply and demand are more theoretical in today's world than applicable.  Two years ago, hedge fund billionaire Steve Cohen paid about $155 Million for Picasso's Le Reve.  True, the supply of this painting was limited, but the demand was also very limited.  The painting brought the fantastic sum because Cohen had a fantastic sum that he could shower on the painting.

Many sellers of '59 Cadillac convertibles have an incentive to maximize the selling price.  E-Bay provides a convenient mechanism whereby these sellers can manipulate the price.  I like James Landi's idea of a consortia.  If market sellers can collude to increase selling prices, market buyers can collude to decrease buying prices.  In a true free market, trade is a voluntary, mutually-beneficial transaction.  Unfortunately, since the days of Croesus, the monopoly of money has rendered supply and demand, and free-market, theoretical concepts.

Respectfully,

Christopher Winter

[Eric DeVirgilis CLC# 8621]

The appearance of an ostensible high bid/selling price is the only thing that can be manipulated on eBay; manipulating the market is something different entirely. And it would take a lot more than monkeying around with a few so-called "completed listings prices" on one single venue for of old car transactions. 

Commodities futures trading is a different world altogether.

It all boils down to a given buyer being willing and able to expend $x on y vehicle and the amount is also agreeable to the seller. Only then is a market value established. All else is moot.

[Ken Perry]

Does anybody here know if this fine 59 convert,that has gotten so much attention,sold or not and how much if it did? Just curious?        Ken Perry 

[Eric DeVirgilis CLC# 8621]

Supposedly the car finished at $43,600 with 23 bids - unsold because reserve had not been met.

http://www.ebay.com/itm/1959-Cadillac-DeVille-/321764021601?forcerrptr=true&hash=item4aeaa15561&item=321764021601&nma=true&si=chSK4lzWQVivPMLT7vnYgTuPsug%253D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

For the white car, the auction still has three days to go - with the bidding currently at $30,300 with 38 bids with reserve having been met so in theory, the car will be sold.

http://www.ebay.com/itm/Cadillac-Other-n-a-/371338583405?forcerrptr=true&hash=item5675811d6d&item=371338583405