Rod K.

Flippa doesn't protect buyers from scammer sellers as they don't do a thorough check of the listed revenues and expenses. After the auction, I found out the seller, Mark Cambridge, omitted expenses related to freelancer fees from his P&L statement. Later on, I caught the seller inflating income numbers due to commingling of assets. Flippa support was not much help either as their advice boiled down to "I would direct you to Mark for any further questions or assistance you may require or questions you may have regarding the goods." In the end, you are screwed as the buyer that spent money on a site that was less than you expected with no recourse to rectify the situation. Please keep in mind that Mark is someone that described himself as a "trusted seller" in the auction. LOL

However, not all experiences at Flippa are negative. Another auction I won met all of my expectations and the seller was honest with all of the assets and not intentionally hiding anything unlike Mark. My advice to Flippa buyers is to be very careful who you decide to buy from and do not let the seller bully you into releasing the money too early without inspecting everything properly and asking several probing questions.