Auctionnation.com Terms and Conditions - What You Need to Know
Before you bid on anything at auction, it's important to learn more about the terms and conditions that apply to the site. For example, you should be aware of Buyer's premium, On-premise guarantee, House bidders, and shill bids. Here, we'll cover all of these important items and more. After reading these terms, you'll be able to bid more confidently and avoid common problems.
Auctionnation is notorious for shill bids, but is it true? The auction website claims that it has 300,000 registered bidders and 700,000 commenters. However, that does not mean that everyone that comments on auctionnation is a legitimate buyer. Some people have registered anonymously under multiple names. In such a case, the auction company is unlikely to detect the bidders' true identities.
One way to identify shill bidders is to check their Shill Scores. Using this information, you can determine which bidders are more likely to inflate the price. The Shill Scores of other bidders will help you decide whether or not to participate in the auction. You can also choose not to participate if you don't want to be part of this activity. But, remember, shills can be found anywhere on any auction site.
In some auctions, shill bidding may be accidental. If your family members or business partners have a stake in the auction, they might use a fake account to bid on their own items, thus inflating the value of the item. If you are a shill, don't do it. Whether or not the person you're bidding on the auction site is a shill or not, the auction site has strict rules about this type of activity.
A recent lawsuit filed by the Arizona Attorney General alleges that Auction Nation and its parent company, Auction Yard, engaged in a practice known as "house bidding," which involves placing bids under multiple bidder numbers. The Attorney General's Office believes that these companies had the intention of inflating prices by placing fictitious bidders under multiple bidder numbers. This practice is illegal and the companies are already facing legal consequences.
As a registered user of the Auction Nation Platform, you agree to abide by the Terms and Conditions. Among other things, you will agree not to monitor, copy, or reproduce content posted on the Website, and you will keep your password and other identification information up to date. You are also responsible for keeping your account information and any other information provided to Auction Nation up to date. Auction Nation is not responsible for any unauthorized access to this information.
A Buyer's Premium is an additional service fee charged by Auction Nation. It is a fixed percentage of the final selling price and is always clearly indicated. Buyers who default on payment are subject to a 15% re-listing service fee based on their high bid amount. This fee is automatically charged to buyers who fail to pay their invoices on time. As a result, it's imperative to read all of the Terms and Conditions carefully before bidding on any auction.
As an added benefit, the Buyer's Premium on Auction Nation is lower than other sites. This is because you won't have to pay a hefty fee upfront, and you can get more value for your money. If you don't like the idea of paying a high price, you can buy items through another online auction site for a fraction of the cost. But you should understand that when you buy an item, you're essentially accepting a higher risk.
Auction Nation determines the duration of the Auction and the end time. Bidders must make full payment of their winning bids within this period. This period is noted in the terms of each auction and on the detail pages of each Item. Payment may be made through a valid credit card, wire transfer, or certified bank check. Once payment is made, the Buyer can then remove or transport the Purchased Items from the site.
Although auction houses don't publicly disclose their commissions to sellers, they do advertise their buyer's premium. However, not every auction house refers to their premium as a buyer's premium. Some call it a "Service Fee" or a "Commission." But in all cases, it's a percentage of the price of the item that you purchase. And once the buyer wins, you'll have to pay the additional fee - which is typically around 1% to 5% of the price.
When buying merchandise at an auction, the Auctionnation.com on-premise guarantee is an important feature to look for. This guarantee covers functional items only, and ensures your purchase is as described. Items that are sold with this guarantee must be inspected and approved before leaving the Auction Nation premises. Once merchandise leaves the Auction Nation premises, however, it is no longer covered by the guarantee. This means that any refunds or chargebacks will be void.
The Auction Nation CEO acknowledged that the number of house bids was much higher than the tally given by the press outlet. He also acknowledged that employees sometimes bid higher than the reserve amount. Auction Nation has no intention of manipulating the bidding process. While the company does use pseudonyms and set a minimum price for some items, that doesn't mean it won't raise or lower it throughout the bidding process.
In Arizona, auctions conducted online are allowed to use shill bidding, but only if the company tells consumers that they are using shills. Auction Nation conducts commercial auctions from a warehouse in north Phoenix. It also provides a platform for other companies to hold their own online auctions. The auctioneers' website disguises these house bidders and doesn't disclose a reserve price.
The company has also faced lawsuits from AGO over the use of shill bidders. In December 2018, the AGO began investigating the company's practices. Following the investigation, Auction Nation changed its user agreement. The new rules require auction houses to disclose reserve prices and increase transparency. The changes will help consumers better understand house bidding. It is still unclear why such laws are necessary. This is an ongoing debate in auction law.
Regardless of whether a person or business is a house account bidder, they can still make a big impact on auction outcomes. In fact, they placed nearly eighty percent of their bids on the final day of an auction - far higher than the other 44% of bidders combined. Furthermore, these house account bids win an average of two out of every four auctions, making them more influential than the average bidder.