Complaint Review: National Auction Group - Gadsden Alabama

We hired the best and received the worst! Absolute auction is a lie, there is a floor price. We hired the National Auction Group to market and sell our beautiful paradise in the Florida Keys. It was approximatively 4 acres of pristine white sugar sand with three beautiful homes. The receipts from this auction where to take care of my mother in her golden years, she is an "Angel" Sugarloaf was open to all to enjoy even if you were just passing by and did not know us, you were welcome to walk the beach and enjoy. We had lived there over 35 years. The property was hard for the local realtor's to handle It appraised for $2,500.00 in 1999. My mother was not well and was getting along in years , but she loved working on the property so much, she had a big tractor but we where afraid she would be hurt. It was time for her to live somewhere where she would not have so much work it was hard to keep the property up. After marketing it locally with some offers we hired the "NAG", (funny acumen) to come down and see the property. They handled only "Trophy Properties" Eric Morgan was the representative for the company after walking all around, we sat on the front porch and watched the beautiful sun set. He explained that we would set our floor price and that they advertised "Absolute Auction " as a leader to people who would come. We told him firmly that if he and his company did not see $2,500,000. we had nothing more to talk about and we could part friends. Eric said he would take it back to the "powers that be" and they would due a market study and see if they thought it was reasonable to get that price in this market they had all kinds of experts to see where we would stand. Eric would be back in touch, but he did not see any problem with our floor. One week later he called and said everyone loved the property and they where excited about working in the Keys and that the price was no problem Eric came back down we gave him the required $80,000.00 has a marketing retainer. "NAG" was to make great brochures put our property on their web-site to get world wide and maximum visibility for the property. We busted our tails to get everything ready for the day of the auction. We had everything perfect! I was taking no chances I asked the the President Mr. William Bone attend so he could over see things. They were to bring the best price that the market would bear. "NAG" objective is to let the bid assistances take the perspective people around the property and get an offer from them. They are then to report their bids to the President and he is suppose to open when the floor is met. The assistants did not seem on their game after a night of partying in Key West, they run through the crowd quickly and returned with an opening bib of $800,000,00 my sister ask Mr. Bone what we should do he said do not worry as there are 13 bidders, more than they have ever had at any auction each with $100,000.00 down to bid (as this was their requirement in his exact words William Bone the President said "It Doesn't get any better then this" We went to auction on his advice, I would seem that he wanted the best price for us his clients and for his company as they would gain a large commission based on the out come, less what we had paid for the marketing of the property. The auctioneer first call was "3 Hurricane's and shes still standing folks" do I have an opening bid of $2,500,000,00 dollars. I could not believe my ears! The auctioneer then dropped the bid so quickly it astounded and scared the bidders. They acted like they were in a hurry to get to another auction. Our beautiful paradise sold for $1,400,000.00 when it closed after there unprofessional handling this auction. Total auction timen was 20 minets Then Mr, Bone new he was in trouble he tried to give my sister another $80,000,00 if we would be a reference for them. My mother told him that her family would not be a references for them as they did not perform even close to what was expected. They hurt my mother and my family horrendously financially. We have had sickness, hurricane's and all kinds of problems to contend with since this auction and have not recovered yet. We have not reported this company until now as we have been to busy dancing with the mess they left us in. We could have taken a sign and placed it on US1 and done better they they did. Anyone can give their property away , we just paid far to dear of a price to do that! I have tried to arbitrate with them and have had nothing but the run-a-round for three months last year, until finally receiving and e-mail from their VP Mr Jim Stripman in which he was very rude he said It was a good and fair price, but for us the cost was way to high. National Auction Group was suppose to be the experts when it came to "Trophy Properties" My advice is watch out for this group. They need to undue the damage they created after fatting their pockets, because one day they will answer to a higher power. My mother and father (who had been passed for 16 years) had always been good people and share of the time and resources with all. This company needs to make right the wrong they perpetrated on our family

Carolyn

New Smyrna Beach, Florida

U.S.A.