GL's Responsibility to Verify Bidders?

[expeditionimports]

Hi Guys,

What is GL's responsibility to verify the legitimacy of bidders?

We recently had a Default Bidder #77005413 come into some auctions at Fort Lewis and simultaneously bid up 20 items into the 8-12+K range. Said bidder then defaulted on the 14 auctions that he did win.

One of the bidders in this same auction had his bidding rights removed during the auction until he could PROVE via screen shots of his online banking that he had the funds to make the purchase. So on one hand we have GL going out of there way to verify that the bidder is legit. In the same group of auctions we have a HUGE Fraud drive the prices up and then default on all of the auctions he won. Does anyone see a problem with this?


Lot # High Bid High Bidder Last Bidder
8676 $8,700.00 77005413 77562986 sn 450722 Relisted
8678 $11,000.00 77289273 77005413 S/N M450425
8679 $8,300.00 77005413 77398877 S/N M451836 Relisted
8680 $5,800.00 77005413 77289273 S/N M450703 Reisted
8681 $8,350.00 77005413 77564035 S/N 450666
8682 $7,500.00 77005413 77564035 S/N 450689 Relisted
8683 $10,500.00 77289273 77005413 S/N 450713
8684 $9,400.00 77005413 77520924 S/N M451840 Relisted
8685 $7,500.00 77005413 77564035 S/N M450715 Relisted
8686 $9,850.00 77005413 77562986 S/N M452043 Relisted
8687 $8,279.00 77005413 77009433 S/N M450104 Relisted
8688 $5,950.00 77005413 77009433 S/N M450788
8689 $12,577.00 77289273 77005413 S/N M452168
8690 $7,150.00 77564035 77005413 S/N M450080
8691 $7,600.00 77564035 77005413 S/N 08277
8692 $5,350.00 77005413 77289273 S/N M450748 Relisted
8693 $6,727.00 77005413 77289273 S/N M450685 Relisted
8694 $3,600.00 77005413 77289273 S/N M450260 Relisted
8695 $9,777.00 77005413 77289273 S/N M451029
8696 $14,689.00 77562986 77416350 S/N M450235
8697 $920.00 77289273 77047522 Dis-assembled 7 pallets


Lets take for example lot #8678. Our default bidder was the ONLY other bidder bidding against the winner from $3925 on = the default bidder ran the price up about 7K

Lets take for example lot #8683. Our default bidder was the ONLY other bidder bidding against the winner from $2650 on = the default bidder ran the price up about 8K

Lets take for example lot #8689. Our default bidder was the ONLY other bidder bidding against the winner from $10,507 = the default bidder ran the price up about 2K


If I were bidder # 77289273, you just theoretically paid 17K extra because of a default bidder #77005413 that bid you up on these three auctions.

Anyone else have a problem with this?

Cheers,

Scott

 

[wsucougarx]

Oh man my stomach's starting to hurt for someone out there...WOW. I know there's a SS in here from Oregon who won a couple of those trucks.

 

[ABN173]

You know I often wondered if GL put in bids themselves sometimes to drive the price up towards your max bid. This stuff you mentioned is a whole new level of craziness.

-Dale

 

[Cucvnut]

im lost.

 

[kurtkds]

I had an auction go that way on me last year...

It took almost a year to get over it and bid again.

Lucky at the last minute I walked away and saved my money.

 

[forestMog]

I wasted a 750 mile inspection trip only to get outbid. However, my bid was only about a quarter of the final bid. How does one find out what bidder numbers won or the bid history?

 

[kurtkds]

After you bid on an item you can go to the "my account" tab then look under the "bid history" tab to see all the items you have bid on and see the bidding history and the other customer numbers that had bid against you.

 

[fuzzytoaster]

Had a few auctions on GL do that two years ago. Same bidder ID jumped the same trucks until he was banned (I assume). I think I saw a pair of trucks go up three or four times before they actually sold.

 

[OSO]

I saw those trucks show back up again. I will try for one myself.

 

[spicergear]

Well, whoever it is...isn't just ramping the pricing up for GL since they're the high bidder. GL also puts a 10% or (I think $35) default fee, whichever is greater up on the bidder that does that. If that guy has ten, $8,000 auction defaults, he had $800 x 10 auctions worth of default bucks he's going to have to pay. I would hope that until that note is satisfied his account would be suspended. But on the other side of the coin dealing with dirtbags like that, prolly doesn't have a two pennies to rub together and GL can't get blood from a stone.

Sorry to hear about your luck. I would speculation you Western 'Mog guys were looking at the gaggle of SEE trucks in WA. Well, they'll be up again as at some point...though that's not much consolation.

 

[spicergear]

Correction to my previous post taken right from the fine print on GL's site:

"At the close of an auction in which Buyer has a winning bid, Buyer agrees to make immediate payment for the total amount of the transaction, including the stated Buyer's Premium, shipping costs and all taxes due if applicable, using payment methods provided by Company upon auction close but in no circumstance later than 3 business days of the payment notification. If the Company does not receive payment within 3 business days, Buyer will be considered in default of bidding contract and will be responsible for liquidated damages fees of $30 or 25% of the final transaction price, whichever is greater. "

So they're in the hole for a LOT of dough with GL...

 

[ranchhopper]

Those bidder numbers with the 770 prefex are some pretty old bidder numbers at least 6 or seven years old.

 

[hdexpert]

Government Liquidation picks and chooses who they want to enforce the default fee with. I know for a fact they have their golden boys (the ones with lots of $$$) and they are treated differently than you and I. Someone with that low of a bidder number knows the in's and out's of GL and they won't be paying a fee, you can bet on that. Who's to say this bidder doesn't work for GL or is running up auction prices in exchange for special favors? Unfortunately GL is a necessary evil we all deal with and know the pitfalls. The people at my local GL location are great, corporate is another story all together!!
Sorry for the rant but when I see something fishy going on at GL it gets my blood boiling.

 

[stumps]

When you have something good or bad to say about GL, spell out the full name: Government Liquidation. That way your post shows up on google when anyone searches for Government Liquidation. Someone, like congressional staffers, news reporters, or DRMO, that is.

-Chuck

 

[hdexpert]

Good advice Chuck, I'll edit my post.

 

[gunboy1656]

Might want to spell it Government Liquidation though.

When I won my trailers a few months ago there was 5 other lots, I put my max bid in and it stopped at my max. All the other trailers ran higher then mine, and they were not in as nice of shape as mine. I am thinking someone ran it up to my max bid early and is scared others off of it early.

 

[73m819]

IT would be nice to see how many had there bids run up to there max bid, when thay started out with a nothing bid, or how many had the MAX bid overbid by ONE bid then DEFAULTED on.

It would be easy to test, just use a ODD $ AMOUNT like $247 say for a trailer, if these odd AMOUNTS keep keep getting bid to the MAX, then I would say COMPUTOR biding to raise the price.

 

[stumps]

Might want to spell it Government Liquidations though.

According to their website it is Government Liquidation. No "S".

-Chuck

 

[papercu]

Well I don't think G/L (Yes I spelled it G/L i don't like anyone telling me how to post) would run up bids without ANY proof other than "Boo Hoo I was outbid They Cheated".
If you think that AND still do business with them, then that is on you!!
And as far as someone running up a bid and then defaulting, it take two to run up bids and if YOU thought the truck or whatever was worth as much as YOU bid then what the problen??
YOU are the one bidding and YOU need to stop when you need to. Wayne

 

[expeditionimports]

You are missing my point. The problem is a systematic Fraud of bidding. A bidder that comes in and bids well over 200K in a single event, should be verified that they have the ability to purchase. Bidder #77562986 had his bidding turned off during the auction until he could prove to GL that he had the funds to purchase...which he did and ended up with the truck. If this oversight was done for a guy purchasing 14K, what was done for the guy pushing 200K?

This is not a default on a single auction. This is a bidder that pushed prices up on 20+ auctions and defaulted on all of them. I would like to know what protocols are in place to stop this type of thing?

Surplus prices are quite often set based upon past historical bidding. If I see that I did not get XXX lots when I bid 8K and they were sold for 10K, next time I am more likely to bid 10K if I want said lots. That works up until it is found out that the "Sales" at 10K were all frauds........

Cheers,

Scott

And as far as someone running up a bid and then defaulting, it take two to run up bids and if YOU thought the truck or whatever was worth as much as YOU bid then what the problen??
YOU are the one bidding and YOU need to stop when you need to. Wayne