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    beefeater36's Avatar
    beefeater36 Posts: 1, Reputation: 1
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    #1

    Mar 24, 2012, 05:08 PM
    I sold a $800,000 yacht on Ebay on a "no reserve" auction. The winning bidder out of
    I sold a $800,000 yacht on Ebay on a "No Reserve Auction". The winning bidder out of 38 gave a 20% deposit to save the sale. He didn't have the balance of $300,000 timely and wants his deposit back. We had to sell the boat for $26,000 less.

    Do I owe him his deposit back?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Mar 24, 2012, 05:39 PM
    What were the written terms of the deposit?

    But it appears he gave a ? 60,000 dollar deposit ? If you sold the boat for 26,000 less, then he gets at least 34,000 back, which makes you whole.
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