local auction company BUSTED!!

Knew something like this was going to happen one day due to all the attention storage auction buying has be getting lateley. Local auction company got busted first from paying the storage company what was due on delinquent units and getting units for themselves then selling at there own yard sale, then they were busted going through the units and taking what was good before the auction started. The auctioneers would say we are going now to cut the locks and get ready for auction, they would cut the locks the take what was good. These auctioneers are wife and husband 55-60 years old and the auction company they own is 30 year old company. Then a storage company nation wide was not paying the the tenant the rest of the money owed to them after the auction the money would go to the employees and was called a bonus. Gota love a good audit. YOU CANT TRUST ANYONE IN THIS BUSINESS LATELY! New some form of corruption would take place sooner or later it always does once something profitable is popular.
 

Knew something like this was going to happen one day due to all the attention storage auction buying has be getting lateley. Local auction company got busted first from paying the storage company what was due on delinquent units and getting units for themselves then selling at there own yard sale, then they were busted going through the units and taking what was good before the auction started. The auctioneers would say we are going now to cut the locks and get ready for auction, they would cut the locks the take what was good. These auctioneers are wife and husband 55-60 years old and the auction company they own is 30 year old company. Then a storage company nation wide was not paying the the tenant the rest of the money owed to them after the auction the money would go to the employees and was called a bonus. Gota love a good audit. YOU CANT TRUST ANYONE IN THIS BUSINESS LATELY! New some form of corruption would take place sooner or later it always does once something profitable is popular.
 

Wow, double wammy!  Where is this from?  A link to the news article would be awesome.

Yup, we all knew this was going to happen. Or maybe its been happening all along. Just now with so many people with their eyes in this industry it was easier to catch them.

I got one that I KNOW goes down a lot. Bid hikers. Random people in the croud that boosts the bidding if its too low. I know for a fact this happens A LOT

I got one that I KNOW goes down a lot. Bid hikers. Random people in the croud that boosts the bidding if its too low. I know for a fact this happens A LOT

Really??, Prove it!

"bid hikers" or Shill Bidders is against the law.....If it is really a "FACT", prove it...and turn them in

he cant . ill bet he has no real proof. the only way to be sure is if you had something to do with it. no hearing it from some one else. or just thinking it's going on.

I have a friend that did it. Im just sayin it happens more often than u think

I have a friend that did it. Im just sayin it happens more often than u think

Maybe we have a misunderstanding here....
are you talking about someone who is "In on it" with the auctioneer, running up the bid for
their gain....that is Shill Bidding

or just someone bidding for the hell of it?

Yes some auction companies place these people. Im almost positive its been done at auctions ive been at and I know for fact it happens. Yes i am aware its against the law. But chances are its been done before at an auction uve been too as well. Its more common than ud think.

Unreal.They should be locked in a storage unit for punishment.

doesnt surprise me at all. im sure it goes on alot more than you think. all it takes is the auctioneers nephew, neighbor, etc showing up and running bids up. how would you ever know and good luck trying to prove it.

Exactly.


Lol@ur sig

I got one that I KNOW goes down a lot. Bid hikers. Random people in the croud that boosts the bidding if its too low. I know for a fact this happens A LOT

Yes! This is true. The auction company gets 20% of the bid. If its not at the reserve price the bid is hiked up. And the people to thank are those that are new to the auction buying due to the tv shows. If people hadnt supported the show and comming out in the hundreds the greed and the profit the auction company see's wouldnt be happning. Trust me the buyer isnt the only person seeing the profit here.

Yes some auction companies place these people. Im almost positive its been done at auctions ive been at and I know for fact it happens. Yes i am aware its against the law. But chances are its been done before at an auction uve been too as well. Its more common than ud think.

I was at an auction where the storage company itself placed a bid. The auctioneer said on behalf of storage company we place a bid of 200 dollars.

Well some of the companies reserve that right or the right to refuse a bid.  I've not been to one yet that actually placed or bid or refused a bid but it's in the paper just in case.  I'm fine if they are upfront about it.  If in the middle of the bidding they do that or don't let you know then I'm out of there.