Mark F.’s Reviews of Auction.com & more

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Auction

7/12/18

Auction.com will bid against you to drive up the price. If the reserve (minimum price that the seller will accept) is not met, Auction.com will enter a "counter offer". You may be the only one bidding on a property, but the price keeps going up and up as it nears the deadline. They do not "counter" once the reserve has been met. They should be honest and transparent: make the starting bid equal to the reserve.

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diane n. – Auction.com Rep Over a year old

Thank you, Mark, for your review. 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.