Business Services Industry
E-commerce - Backpage Briefing - car sells for $14 on Internet auction web site - Brief Article
Telecom Asia, Sept, 2002
Who says you can't find a good deal on the Web these days? Han Bin, a 20-year-old office worker in Shanghai, bought a second-hand Volkswagen Passat for $14--much to the surprise of the used car company that was selling it.
Yongda Automobile Sales put the Passat up for sale on Chinese auction Web site EachNet.com, which is 33% owned by US auction site eBay. Hah bid 116 yuan ($14), well under the 100,000 yuan ($12,000) market price for a second-hand Passat in Shanghai. When the auction deadline passed, Han was declared the winning bidder, since he was the only one who'd bothered to bid, according to Reuters.
Understandably, Yongda tried cancel the transaction, but Han, also understandably, says the car is his. The case was still being argued in a Shanghai district court as we went to press.
Meanwhile, Yongda is still trying to work out what went wrong--they've narrowed it down to a system error or a human glitch. Caveat emptor, indeed.
Most Recent Technology Articles
- INTERVIEW WITH BEN BUTTERS, DIRECTOR OF EUROPEAN AFFAIRS AT EUROCHAMBRES : "A PERFECT ROAD MAP FOR EU CLUSTERS DOES NOT EXIST".
- AGENDA.(Brief article)(Conference notes)
- FIGHT AGAINST INTERNET PIRACY.
- INTERNET : AUTHORS' SOCIETIES URGE ACTION AGAINST PIRACY.
- TELECOMMUNICATIONS : BUSINESSEUROPE HOSTILE TO FURTHER CONTRACTUAL OBLIGATIONS.(Brief article)
Most Recent Technology Publications
Most Popular Technology Articles
- BizRate to monitor in-store customer satisfaction for Office Depot stores - Market Intelligence
- Speed control of separately excited DC motor
- What is precision air conditioning and why is it necessary?
- Effects of creative, educational drama activities on developing oral skills in primary school children
- 3G: naughty or nice? PhoneErotica.com generates over 300 million hits per month, and rings up more minutes of use per month than MSN


