- Report: #970911
Report - Rebuttal - Arbitrate
Complaint Review: Proxibid
ProxibidInternet United States of America
Proxibid Auction companies the provide pre bid information to. They provide prebid values to auction companies that then star auction bids at those top prices. Internet
*Consumer Comment: Prebids on Proxibid
*Consumer Comment: Only Certain Companies
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When I spoke to proxibid's customer service rep today while closing my account, I asked him about this and he said under some UCC law the auction companies were allowed to see these prebids but "were not supposed to use them as the starting bid" in the live auction. When I asked him if anyone was policing this practice, he said no and it was up to the consumer to work with the auction company if they felt this was happening.
It's pretty obvious this leads to illegal and deceptive business practices in the auction industry, and that they and their clients (proxibid/auction companies) benefit from this practice and loophole at the expense of the consumer/bidder.
This report was posted on Ripoff Report on 11/18/2012 08:52 AM and is a permanent record located here: http://www.ripoffreport.com/r/Proxibid/internet/Proxibid-Auction-companies-the-provide-pre-bid-information-to-They-provide-prebid-values-970911. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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