Online auction governance?

[Dewey Cox]

Is there any rules or regulations that auction houses are bound by?
Is there anything other than courtesy to stop them from raising bids higher?
I figure there has to be some people on here that would know the ins and outs of that.

[huntinstuff]

Im in an online auction now for Team Auctions. Friend is part owner and they simply have you log in with a credit card and away you go. They dont interfere.

But ive been to horse auctions where i know the auctioneer has taken a non existent bid to bump a horse by $500 a hit.

Online is normally pretty good but like anything electronic, it can be screwed with i guess.

I set my limit and go from there. If i lose, i lose.

[moniaw24]

I do know for a fact that Auction companies will have people on their team bidding up items if they aren't fetching enough $$... and if they are too low.. they will buy them back and try and re-sell in another sale

[farmer23]

Auction's are getting and little more crooked in my opinion with everyone going to online, the auction company can manipulate bids a lot easier with it not being live. I also know that if there are any proxy bids the price will be set $100 more than the highest proxy. I've had it happen too many times for it to be coincidence!

[Trochu]

I believe shill bidding is technically illegal in Canada.

That being said, I think it would be difficult to ever prosecute.

[Dewey Cox]

Originally Posted by farmer23

Auction's are getting and little more crooked in my opinion with everyone going to online, the auction company can manipulate bids a lot easier with it not being live. I also know that if there are any proxy bids the price will be set $100 more than the highest proxy. I've had it happen too many times for it to be coincidence!

That is what I am noticing too.
Also, I am seeing the same items back up for action at the next auction quite a bit.

[jungleboy]

I used to be a regular at one of the bigger local auctions . And I came to the conclusion that most of the auctions were pretty shady. If there was an item that maybe had only one or two bidders , suddenly there would be some bids that they magically announced had come by phone or internet and presto chango the price would jump right up to a point where there was really not much of a deal at all. Add to that the buyers fees etc. they had you coming and going.

I finally gave up on that fixed game altogether . I trust auctions about as much as I trust Trudeau.

[carlson]

2 years ago you used to be able to find deals at auctions but you cant anymore. I never thought of the auction houses running up the pricing, just thought more and more people were starting to visit these auction websites. Makes sense though now that you guys bring it up. Shadiest auction house has to be xxxxx, everyone ive ever talked to that has bought a lot from them the items are all broken

[1hogfarmer]

Mob mentality at auctions. People get all wound up and pay more than items are worth new usually, at least around here.

[Redfrog]

I quit doing auctions when they started the buyer's fee. I won't pay for the privilege of buying someone's stuff.

[NCC]

I have only ever had one proxy bid that made it to the end of the auction and I ended up buying the item for $1 more than my bid. It certainly makes me suspicious that all of the bids default to the proxy plus the minimum bid increment.

I have found a bargains on small items but in general the online auctions have been a huge waste of time for me over the past two years. If the auction houses were making more money from live sales, we would be back to live sales.

I agree with Red Frog about the buyer's fees also, but it's become a cost of doing business and I don't think they're going away.

[jungleboy]

Buyer beware should be top of mind when buying at auction. And read the fine print. Some places have a buyers fee , some have a sellers fee on top of commission and some have both. Like the Casino , the house always wins in the end.

[Trochu]

Originally Posted by NCC

I have found a bargains on small items but in general the online auctions have been a huge waste of time for me over the past two years. If the auction houses were making more money from live sales, we would be back to live sales.

I spoke to an auction owner a bit ago. He said the online opens it up to a much wider audience, let alone being way more convenient for everyone, that they are indeed selling items for more.

In general, I just bought something at Allan B. Olson yesterday at several hundred dollars less than my proxy bid. I was happy.

[pikeslayer22]

Just got screwed over at last Ritchie auction. Had an item that I as high bidder on. Watched it until the countdown started, took a screen shot of going once twice three times. Thought I had it get an email 5 mins later that I was out bid. Called and emailed and their explanation was that my server didn’t keep up and was unable to bid. But yet I was able to watch it go three times saying I was high bidder

[marky_mark]

Originally Posted by pikeslayer22

Just got screwed over at last Ritchie auction. Had an item that I as high bidder on. Watched it until the countdown started, took a screen shot of going once twice three times. Thought I had it get an email 5 mins later that I was out bid. Called and emailed and their explanation was that my server didn’t keep up and was unable to bid. But yet I was able to watch it go three times saying I was high bidder

That sucks
Some of the things I was looking at went for crazy high prices
Bidding against people from Mexico South Carolina and overseas
With our dollar being worthless it makes buying things that are local even that much harder

It’s funny how Richie bros calls you the minute after the sale offering to finance anything you buy lol

[Trochu]

Originally Posted by pikeslayer22

Just got screwed over at last Ritchie auction. Had an item that I as high bidder on. Watched it until the countdown started, took a screen shot of going once twice three times. Thought I had it get an email 5 mins later that I was out bid. Called and emailed and their explanation was that my server didn’t keep up and was unable to bid. But yet I was able to watch it go three times saying I was high bidder

RB does the countdown then says sold..... Sounds like someone sniped ya.

[Sask Bearman]

There is still an auction or two without a buyers fee. Having said that, the number of people watching auctions and buying has increased by a fair margin over the past few years.

[lannie]

I think the Ritchie group is the best of any for integrity.

[jstubbs]

Is there a better business out there than Ritchies here in AB? Economy doing good and companies are upgrading often and selling old fleet, lots of money flowing around for smaller outfits and private individuals to make splurge purchases. Economy doing bad and it’s record sale after record sale of mass fleet dispersals of restructuring companies and those going out of business, other companies (esp outside of AB/Canada) spending like bandits.

All while making money on both the sale and purchase side. And running a pretty low overhead considering the scale of their revenue.

[stubblejumper01]

My buddy was looking for a good excavator. Found one he liked and put a maximum bid of $20k. When bidding closed he got it for $16,750 so they never ran him to the maximum. He was pretty happy. They could have easily bid it up but never. Not sure what auction it was except it was near Camrose Tuesday

[Hunt4Ever]

Recently I joined an online auction, there was this BMW motorcycle I wanted for parts and set my limit at $800. The motorcycle sold just over $800 so I was out.
A week later I’m on the same site and guess what…that exact same motorcycle is up for auction again (vin number matched). Me been new to this online auction business…I’m thinking I’ll take another go at it and increase my limit to $1000.
The day comes and I get it for $775. go figure!
After the motorcycle reappeared for auction, all the extras you pay and limited time to do so before the late charges kick in…to me this auction business definitely shady, my 2 cents.

[Dewey Cox]

It seems to me that one day, over the course of an hour, every lot you bid on goes to the top of your proxy bid.
Or a pair of items that didn't sell (no bids) in the last auction both sell at the top of your proxy bid in the next auction.

[Fish along]

Originally Posted by jungleboy

I used to be a regular at one of the bigger local auctions . And I came to the conclusion that most of the auctions were pretty shady. If there was an item that maybe had only one or two bidders , suddenly there would be some bids that they magically announced had come by phone or internet and presto chango the price would jump right up to a point where there was really not much of a deal at all. Add to that the buyers fees etc. they had you coming and going.

I finally gave up on that fixed game altogether . I trust auctions about as much as I trust Trudeau.

This is the way i see it to.completly shady,ive been screwed over a few times,but not any more.

[royal coachman]

I have had several auction company reps tell me that revenues have never been as good since online auctions started, not many deals to be had for sure. I have found that I do much better by putting a proxy in on any items that I am interested in and let the chips fall, if I get it , good , if not, also good. I have gotten carried away bidding at the last minute and lived to regret it later!

[6.5 shooter]

I use to bid lots as well, then prices seemed to skyrocket as well as buyer and seller fees, even packaging fees ?? etc. being tacked on. Then along comes Canada Post and a $20 dollar item costs you $85 dollars to get it to your door. no matter how small . Mostly due to the fact that big brown, Fed X and UPS decided to go woke and not deal in "dangerous goods" LOL. So like many others, I did get some sweet deals in the past, but now, I just look and very seldom buy.

[Ackleyman]

Originally Posted by Redfrog

I quit doing auctions when they started the buyer's fee. I won't pay for the privilege of buying someone's stuff.

X2

[carlson]

I ended up buying a couple welders for our shop yesterday. I put a max bid 100 bucks over what I currently had the items for, wouldnt you know i got run up on both items to what my max was and it never went any higher

[Sundancefisher]

Originally Posted by Hunt4Ever

Recently I joined an online auction, there was this BMW motorcycle I wanted for parts and set my limit at $800. The motorcycle sold just over $800 so I was out.
A week later I’m on the same site and guess what…that exact same motorcycle is up for auction again (vin number matched). Me been new to this online auction business…I’m thinking I’ll take another go at it and increase my limit to $1000.
The day comes and I get it for $775. go figure!
After the motorcycle reappeared for auction, all the extras you pay and limited time to do so before the late charges kick in…to me this auction business definitely shady, my 2 cents.

Sounds like original buyer reneged.

Was at a live auction once and I lost a bid. Stuck around to the end for entertainment and a few items came back for sale. Not mine however the auctioneer said that’s what happened.

[Dewey Cox]

Originally Posted by carlson

I ended up buying a couple welders for our shop yesterday. I put a max bid 100 bucks over what I currently had the items for, wouldnt you know i got run up on both items to what my max was and it never went any higher

Wildrose auction?

[carlson]

Originally Posted by Dewey Cox

Wildrose auction?

yup