M K.
M K.
Union, NYMember since July 2018

Reviews (1)

    • Jul 30, 2018
    • Verified Reviewer


    Rigged auction

    Overall Experience:

    It's not really an auction as you are bidding against their own site's computer. It automatically bids up and adds time at the end of the auction even if you are the only one bidding so as to get their reserve price. Why don't they just tell the minimum price needed than having the "auction" over and over until their price is met?

    Bottom Line: No, I would not recommend this to a friend

    36 people found it helpful

    Link to this Review
    • Aug 17, 2018

      Company Response from Auction.com

      Thank you for your comment, but please allow us to clarify your comments as they are not entirely accurate. As disclosed in the Auction.com participation terms and property details page, Auction.com is permitted to bid on behalf of the seller up to, but shall not exceed the reserve price. Counter bidding on behalf of the seller extends the auction for assets that have not reached the reserve price and would otherwise end unsuccessfully. By extending the auction, it increases the likelihood that the auction may end successfully. This practice benefits the bidder by increasing the likelihood that the auction will produce an offer that the lender is willing to accept. Please let us know if you have questions.

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