My husband and I have been looking for a replacement work vehicle. I stumbled across this auto auction website that seemed like the answer to a prayer. It held public auto auctions with vehicles being sold at great prices.
So I signed up and started bidding on a 2002 Ford F-150 pick-up truck worth $12,000 low blue book. I bid $5000, was the highest bidder and was told "SOLD". When I went to complete the transaction, I was told that the bid was rejected by the seller for not meeting a preset floor price/minimum reserve.
My beef is that there was no indication on auction of a minimum reserve price. None the auction listings had any indication of a minimum reserve/floor price! The consumer is led to believe that this is an absolute auction, especially after being told that you've won.
I wouldn't be surprised if 90% of the auctions on this website have this hidden reserve/floor price and the winners don't find out until afterwards when the sellers refuse to sell you the vehicle that you've been told you've won!
I will be contacting my Attorney General in Pennsylvania informing them of this misrepresentation of an auction.
If you register for use of this website, beware that you probably will not get the vehicle even if you've been told you've won the auction.
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