Real Auction Sites - with No Fake/Shill Bids?
Are there any legitimate auction sites available on the web, large or small, that do not use fake or shill bids?
Ran into this during due diligence on Auction.com:
Until the seller's reserve price is met, Auction.com may counter bid on behalf of the seller. Counter bidding gives buyers and sellers more flexibility to find a mutually agreeable price. Counter bids do not occur after the seller’s reserve price is met.
Props to Auction.com for making a transparent disclosure and not burying it in the PDF downloads, but seriously??? Submitting fake bids to bump price is legal? Plus charging a $2500 minimum transaction fee?
Didn't see this on Hubzu's site, although I didn't pour through the documents as I did Auction.com's site, so would appreciate some feedback here.