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Joel Owens
  • Real Estate Broker
  • Canton, GA
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Auction.com tactics. What is this BS??

Joel Owens
  • Real Estate Broker
  • Canton, GA
ModeratorPosted Feb 22 2015, 18:55

So I haven't bought at the Auction forever. I was thinking buy a few cash and resell regularly for a quick profit.

Reading the fine print used to back in the day there was a reserve but if you only bid and they started at 20,000 and you ended at 40k then even though the reserve wasn't met they would send to the seller for consideration to accept or counter.

Now there is possible counter bidding on behalf of the seller but you do not know if it's the seller ( auction company) or a real buyer. This is total BS and price fixing. They call it illegal when buyers do this kind of stuff but it's okay apparently for Auction.com to play these games.

I think I might not even bid now if this is the kind of stuff they are doing.

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