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FRAUD, SHILLS in the bidding process, fake bids, ect. Let me tell you about a true story that I actually was a part of. It was in 1980. I was in Miami and by friend came down to visit me at school. He was a long hall trucker and he told me about a auction. We went and I became the proud owner of a dresser. After the auction we met the auctioneer. He said he had a matching dresser at home and would give it too us cheep if we would move the items his girl friend had purchased at the auction. Seems his girl friend and a few other people were at the auction bidding things up. They were in the crowd and looked like normal people. They either bid them up so some poor sap would buy them at the highest price or would steal the items at low prices. Some times they got stuck with something but that was small potato's compared to the amount of money they made by bidding things up. I asked the auctioneer what he did with the things he got stuck with? He told me they just recycled it at the next auction. The auctioneer makes a percentage of the take and this is how he raised his income. The people having the auction cleaned up too. So now you know what I think of live on line auctions and what I think will happen to many a bidder. By the way, I could have gotten that dresser cheaper except his girl friend was bidding against me. I felt cheated and have never bought anything at auction ever since. This is my story and I know there are many others. I believe it happens on line on live and non live auctions on the internet. I believe this topic of on line auction fraud must be researched and exposed to the online community to stop the fraud that can occur at on line internet auctions. I would like any stories, court cases, and also to hear your thoughts on this topic. The truth must be known. Consumers must watch their wallets. Here is a classic case of such fraud and how it works. lawmall.com The person mentioned is not the CEO of MLRE. floyd | ||||||||||||
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