But Hype Doesn't Match Reality

The story was, that the SoloTrek, a novel but fairly limited flying machine (as it is merely a proof-of-concept vehicle), was garnering lots of interest, and bids, on e-Bay, the auction site.

A breathless press release ("Priceless, One-of-a-Kind Prototype Aircraft Creates Frenzy As Bids Continue to Climb") said, "The SoloTrek auction began on eBay at noon PST Jan. 10 with an opening bid of $50,000. Bidding activity began immediately and surpassed the $500,000 mark before the end of the first day. Within 48 hours, the bidding had gone over $1 million and continues to climb. The auction will conclude at noon PST on Jan. 17."

We checked on Tuesday at 2PM (EST), and there weren't any bids registered. Fifty grand was the level set for the opening bid, assuming there will be one.

The description of the machine on the auction site was less-glowing (more-realistic) than the claims made in the press releases, which have been slavishly repeated on network newscasts. The official, auction-site description is about right:

"SoloTrek XFV is a VTOL (vertical takeoff and landing) aircraft that a person steps on, straps on, and flies in an upright position. The POC prototype achieved its first controlled hover flight on Dec. 18, 2001 and has since continued to undergo rigorous testing and further development. As a condition of sale, the successful bidder will have to execute an agreement warranting that they will use the aircraft for static exhibition and educational purposes only. The aircraft will be sold in its as-is, nonoperable condition." [Emphasis in original]

We called Michael Moshier, the CEO of Trek Aerospace, to see what the disconnect was, between his press releases and the view of reality showing on the auction site.

A frazzled Moshier called us back, nearly immediately. "Two hours after we issued that press release," he told us, "we figured out that the high bidding was fraudulent."

That wasn't the best news he could have gotten; but he took action right away. Looking closely at the e-Bay site, you can see that this present auction began on Monday night. (The original auction started Friday.) He explained, "We canceled that auction, and now we have some professional folks qualifying buyers. The bidding looked normal, until it went to about a million dollars." If that sounded too good to be true, it was nothing, compared to what happened next: "Then it went to five million, and we knew something was up."

Mosier pulled the plug, and reset the bidding. He's particularly frustrated, because, he said, "There were some legitimate bids in there, we're sure; but it's a private auction, so we don't know who they are."

Where does it go from here?

Mr Moshier said, "We've had prior inquiries from museums; I just thought I'd make the process fair to everybody." Thus, the auction format. Now, he'd like serious ("real") bidders to come forward. "We hope it will end up in a museum; we hope we can get some cash out of it -- we'll kill two birds with one stone."

That timing has been rough on Trek Aero. They're new to e-Bay, and didn't realize the impact a few non-serious bidders could cause. E-Bay isn't easy to reach by telephone; and it isn't often that items of this potential price (as well as this novelty) get posted. Moshier said his company, and his credibility, have been hurt by this inexperience. Re-setting the auction was the easy part; the press release had already been read, all over the airwaves.

Let's suppose you really would like this gizmo:

Now, if you'd like to bid, you'll have to verify that you (and your bank account) are real. The new auction says, "To help ensure a smooth auction process for all participants, the seller requires the verification of all bids. In order to place a bid on this auction, you must first contact TransRow, Inc. at 800-652-4440 or for international bidders you may call us at 001-818-920-5916. If you would like to set up a time to speak to a Transrow representative then you may do so by emailing Transrow at verify@transrow.com."

FMI: auction site; www.solotrek.com/mjet/index1.html