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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (13587)	4/29/1999 10:19:00 AM
From: snerd	Respond to of 56537

OT... Do you know what your kids are doing online?! lol 13-year-old bids $3.1 million in Internet auction (Reuters 04/29 09:16:18) PHILADELPHIA, April 29 (Reuters) - A 13-year-old boy with a computer modem and a yen for the finer things in life placed $3.1 million worth of bids on merchandise advertised on the Internet auction site, eBay, a newspaper reported on Thursday. Andrew Tyler, who lives in the Philadelphia suburb of Haddonfield, New Jersey, bid $24,500 for a red 1971 Corvette convertible, $500,000 for a Van Gogh painting and $1.2 million for a medical office in Florida. All the bids were fictitious. And fortunately, bids for the Van Gogh painting and the medical office lost. But the one for the Corvette won, as did a whopping $900,000 bid for an antique bed said to have once belonged to Sir John Macdonald, Canada's first prime minister. "It's sort of weird that it's so open to everyone. They don't ask you for your credit card or any proof that you're over 18," the teen-ager told the Philadelphia Inquirer. Altogether, the newspaper said, he placed 14 bids -- five winners and nine losers. His parents learned of his activities last week, when the Canadian firm commissioned to sell the Macdonald bed phoned his home to discuss the $900,000 transaction he had agreed to on April 18. Before Andrew's bid came in, the highest offer for the bed had been $12,000. The boy's Internet privileges have since been terminated. The newspaper said the Canadian firm, Internet Auction House, was not angry with the boy. A spokesman for San Jose, Calif.-based eBay Inc <EBAY.O> told the Inquirer that Andrew was one of the "deadbeat" bidders that occasionally use the site. REUTERS