RCI Auctions is an online auction site that sells used equipment to its customer base. I have proof and first hand knowledge that they auctions they conduct are in my opinion fraudalent. This is how:
First a customer also known as BIDDER chooses items they wish to bid on they then have the choice to place their initial bid followed by a Max Bid. The Max bid is secret only known to the Bidder and RCI Auctions. If another legitamte Bidder bids higher than the initial bid then the bid is raised to that bid level. If the origianl bidders MAx Bid is higher than the new bid then the new bid raises the next bid level.
RCI Auctions opens fake bidder numbers and then they look at the Max Bids on items of other bidders and they routinley create minimum bids on items staying below the Max Bid of the other bidders but raising the bids up to the max bid.
The Legitamte bidder thinks that a fair auction is being handled and that they have an opportunity to possibly win items at the lowest price possible but in reality they are at times bidding against the company insider who makes sure the ending bid is close to the maximum bid that the legitmate bidder placed.
As a bidder I would expect that my bids and max bids are completely confidential and that RCI Auctions are not using that information to bid against me.
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