Silvertag.com advertises "lowest unique bid auctions." Their too good to be true claims are hitting radio airwaves and some websites.
There is currently very little documentation on this company, but their Terms and Conditions page ("User Agreement & Rules") is EXTREMELY dangerous. Link to aforementioned agreement follows text.
By joining the site, you'd agree to the following:
1. A $10,000 "fine" may be levied at "their sole discretion" if they suspend your account for any reason. "Failure to pay the fine will result in the Member being turned over to a Collection agency for collection."
2. They can cancel you for any reason and you've indemnified them from prosecution by agreeing.
3. If you cancel your membership after winning an item, you have 5 days to pay the retail price or "the matter will be turned over to a collection agency for remedy."
3. If you agree to "arbitration, " you must pay $5000 up front to contest your status.
Simply put, this is a scam. If you have joined or still wish to, contact your attorney before proceeding.
Http://www.silvertag.net/useragg.php
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