- Report: #1490066
Complaint Review: Auctiontime.com Online Auctions -
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Auctiontime.com Online Auctions
United States
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auctiontime.com
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Auctiontime.com Online Auctions Advertise "No Reserve! Yet, when you "Bid" your "Automatically Outbid"
When you "Bid" on Trucks or Equipment of ANY KIND, you put in a Proxity Bid at 1 week Prior to the Auction! Well, Auction Time Advertises they have "No Hidden Reserve" Meaning "No Minimum Price for Any Particular Piece of Equipment!
Yet, when you place a Bid, your Automatically "Outbid" For Vehicles, during the Actual Auctions themselves! "Bid Encrements" are in $100 Amounts! Everybody knows, when you ever "Bid on Something" at Auction, You ALWAYS Bid, "The LEAST AMOUNT"! Not the MAXIMUM AMOUNT" IF U Bid "The Maximum Amount you are "Willing to Pay", this then, is simply another way of having a "Hidden Reserve"!!
Because, when there's ONLY 3 or 4 Bidders (Less or More, just depending on, IF There IS Or IS NOT a "Bidding War" for something!) There's No Way, someone CAN BE "Outbid" Automatically!!! Unless, there is a Minimum Amount the "Seller" or "Auction House" "WANTS TO GET" for the Equipment, available!
Whatever THAT Equipment is; Construction Equipment, Trucks, Cars, SUV's, Etc. Now, I've seen this MOSTLY WITH Their "Heavy Truck Auctions"! The ONLY WAY a Person can become "High Bidder" seems to be, ONLY when you "Proxy Bid" a week in Advance!
I went to my 1st Auction when I was 7 years old an bought a "Cow Trought" for $5.00. For Watering Cows! I'm 50 an been going to "In Person" an "Online" Auctions, on/off ever since!!! That's 43 Years worth of "Auction Experience"!! So yes, THAT's A Ton of Experience with these things!
I've Never, until "Auction Time Online" EVER Dealt with "Bidding" or Auctions That "CLAIMED" THEY DID NOT HAVE ANY "HIDDEN RESERVE" THEN AUTOMATICALLY "OUTBID" A "BIDDER", IF THEY "FELT", A "BID" WAS TO LOW, FOR THE "SUPPOSED" "VALUE" OF THAT "AUCTION ITEM"!!!
THIS IS THE "VERY ESSENCE" OF A "HIDDEN RESERVE"! PERIOD!!! BECAUSE A "RESERVE" IS A MINIMUM AMOUNT THE AUCTION WILL "ACCEPT" FOR AN AUCTION ITEM (NOT JUST TRUCKS OR OTHER HEAVY EQUIPMENT, BUT ANYTHING BEING AUCTIONED!) WELL, THAT'S EXACTLY WHAT Auctiontime.com is doing! "Claiming" they have "No Hidden Reserves", Telling people, there's a "Bid Increment" of whatever, ($100, $50, $25) for people to Bid. But yet, If People's Bids are "Less Than" what auctiontime.com, "Feels" an item is worth!
Those people's Bids are AUTOMATICALLY OUTBID, AS A MATTER OF COURSE/POLICY!!! THAT'S WRONG, IT'S DIRTY BUSINESS AND IT'S THE VERY DEFINITION OF A "HIDDEN RESERVE"! YET THEY ADVERTISE "NO HIDDEN RESERVES"!!! THAT'S WRONG AND BASED ON THE "TRUTH IN ADVERTISING LAWS, ILLEGAL !!!
2 Updates & Rebuttals
Scribey
FANNETTSBURG,Pennsylvania,
United States
Auctiontime bidding misunderstood
#2Consumer Suggestion
Mon, October 04, 2021
The writer of this review clearly does not understand Auctiontime bidding. If you are automatically outbid, it is because another bidder has already bid higher. Example ( An item opens with at $0 and bidding increment is $100. Bidder A posts a maximum bid of $5000. Item will show one bid of $100. However, if bidder B bids $200-$4900, he will be automatically outbid by bidder A.
If bidder B places a max bid of $4000 and no other bids are recieved, bidder A will be the buyer at $4100. If bidder B bids $5000, he will be informed that his bid ties a previous bid and he will need to bid $5100 in order to be the sucessful bidder.
Jeff
Gaylordsville,Connecticut,
United States
Hidden Reserve on AuctionTime
#3General Comment
Thu, June 24, 2021
Sorry, Charlie (Harley), but you are incorrect. A reserve only sets the minimum that the seller will accept. If it says "No Hidden Reserve," it means that the sell will accept the highest bid, with no minimum.
If the bidding on an item begins at $100, but the first bid comes in with a maximum of $1000, it will be shown at the opening bid of $100. If you then bid $200 (they DO have the right to set bid increments, but if you place a bid in between they will usually register it), the price will automatically go to $300, the next increment, which does outbid you.
That will continue only up to that maximum of $1000 unless you then bid higher. That has nothing to do with a reserve, but only with the bid(s) placed. If you had put in a maximum bid of $1500, it will automatically enter your bid of $1100 until that is outbid, again, up to the (your) maximum.
Also, if, during your bidding, you enter a bid of $1000, that amount will be registered as having been bid by that other bidder, since his bid of $1000 was entered before yours, even if you skip the $900 increment and go directly to $1000. None of this has anything at all to do with any "Hidden Reserve."
One last thing. I understand that you may be frustrated. In a sense that is why people will submit a "maximum bid." If you get frustrated enough, you'll drop out of the bidding sooner and they will win the item at a lower price. But, even though frustrated, Please don't type in all caps. Most people will say that is considered shouting but, to me, it is just more uncomfortable to read.
Hope your day improves.
