Question Author
Thanks for all your replies.
I've read through the ebay rules for the motors section and see that there are different rules, but these different rules don't appear to apply in my case.
As I understand it when you "buy" from a classified advert in the motors section of ebay (or the property section) you are not entering into a binding contract and either party can change their mind.
I wasn't buying from a classified advert and hence this special non-binding rule doesn't appear to apply, in my case it was a no reserve action and I can't see anything to say it shouldn't be binding.
Can anyone point me to a link showing why I don't have a binding legally enforceable contract?
The car is actually worth the price I mentioned, and yes I think I could have quite easily sold it for that - its a classic car in extremely good condition with some high quality aftermarket extras.
The likely reason it didn't sell for a good price is that it was listed on ebay rather than somewhere that enthusiasts were likely to be looking - the owners club would have been a better choice.
My view on this is that a reasonable person taking part in a no reserve auction would expect to receive the goods if they won the auction, and would have committed themselves to paying the winning bid for those goods.
Likewise a reasonable person selling at a no reserve auction would be entering into an agreement to sell for the winning bid, and to supply the goods to whoever won.
Given the above I would have expected that a contract had been formed when the auction ended and I could now pursue the seller (if I wanted to) for the difference between the market value (provided I could demonstrate what that was) and the winning bid. Is this correct? If not, can you tell me why I'm wrong so I know for next time.
Thanks