Auctioneer Ripped Me Off

[TaoWanderer]

What is the name of your state (only U.S. law)? CA

I need urgent help, plz, ty.

I just got ripped off with an auctioneer. What should I do?

For a $15,000 item that I could sell on Craigslist or eBay easily. He gave me a check for $1,300 and now I realize that he did not ask me to put a reserve on it and sold it to the highest bidder. There is no place on the contract that has a provision for a reserve price, which is one page.

I appreciate any help.

 

[racer72]

You just discovered the hazards of selling at an auction. Take your contract with the auctioneer to a local attorney to see if you have a case. If he won't take your case, you don't have one.

 

[Zigner]

What is the name of your state (only U.S. law)? CA

I need urgent help, plz, ty.

I just got ripped off with an auctioneer. What should I do?

For a $15,000 item that I could sell on Craigslist or eBay easily. He gave me a check for $1,300 and now I realize that he did not ask me to put a reserve on it and sold it to the highest bidder. There is no place on the contract that has a provision for a reserve price, which is one page.

I appreciate any help.

Apparently, he did what you asked. I'm not sure I see the problem...well, except that you are kicking yourself for how you handled this.

 

[swalsh411]

Why would you think you have any recourse here? It is not the auctioneers job to determine a minimum value for your item and you did not get "ripped off". What exactly do you think happens at an auction? The item is sold to the highest bidder which is what happened here. It's also not his job to ask if you want a reserve. It's your job to have it in the contract if you do.

 

[TaoWanderer]

Urgent Please Help Me

There was a bid of $3,500 in the beginning of the auction online, when he started taking bid on my skid steer, then all of a sudden the internet $3,500 bid was withdrawn and immediately after was sold for this much to someone at the auctioneer yard for the highest bidder. Day time robbery, I call it. I believe it was a "bid shielding" scam.

"Bid Shielding" described:

http://mars.superlink.net/~jason/ebay/msnbc_ebayfraud.html

 

[sandyclaus]

There was a bid of $3,500 in the beginning of the auction online, when he started taking bid on my skid steer, then all of a sudden the internet $3,500 bid was withdrawn and immediately after was sold for this much to someone at the auctioneer yard for the highest bidder. Day time robbery, I call it. I believe it was a "bid shielding" scam.

"Bid Shielding" described:

http://mars.superlink.net/~jason/ebay/msnbc_ebayfraud.html

Answer me this - if the item you had was worth ~$15,000 as you claim, then why would a bid of $3,500 scare off the other bidders? The purchase price of the item at $3,500 would appear to be a bargain at that price.

IMHO, I think you're just experiencing a serious case of butthurt because the item you valued so highly sold for such a seriously low price.

Your failure to demand a specific reserve price is what cost you here. If you had established a reserve price, then I'm sure you would have gotten more for the item (if others saw its value as high as you did, that is).

 

[OHRoadwarrior]

you failed to properly explore the possible outcomes of the service you contracted for. Nothing to see here folks, move on.

 

[justalayman]

I'm not so sure. I'm not so sure there was not fiduciary duty to the OP by the auctioneer. Given the amount of money, I would spend a couple bucks and speak with a lawyer. He may have had a duty to disclose what the lack of a reserve means.