On SmartCustomer, businesses may not offer incentives or pay to remove reviews. Learn more about our Review Guidelines.
Auction.com Reviews Summary
Auction.com has a rating of 1.9 stars from 434 reviews, indicating that most customers are generally dissatisfied with their purchases. Reviewers dissatisfied with Auction.com most frequently mention real estate, earnest money and customer service. Auction.com ranks 169th among Auction sites.
We monitor reviews for authenticity
Total scam. The website lists the homes as financable, then changes at auction listing time. I suspect it is a matter of months before another real estate market crash. The bankers are limiting supply to build demand. Of course, the suckers are biting on the bait and buying at unreasonable prices. Amazing how short the memory of some people. Have people really forgotten about the real estate collapse that was less than 7 years ago? I will be renting...
They deserve no stars. They use terms as "available" means "required". They said the Fannie Mae property was Auction.com's asset. They changed the terms for proof of funds 7 times and still will not submit the winning bid to Fannie Mae. Their listed real estate agents has no information. They refused to put in writing what they said verbally. If it is not a scam, than they are poorly operated, lack professionalism and knowledge. N t
I only give this site one star because there is no option to give it zero. They talk about transparency because they tell you up front that they can rip you off by bidding on behalf of the seller to increase the bid price up to the reserve. Just because they tell you doesn't make it right. Somebody with a gun may tell me they are going to rob me but they still should go to jail. These people should go to jail! Beware of their accuracy of listings. I was looking at a house that was extremely damaged by a foreclosed owner. Nothing was mentioned in the description besides that it would be great for any buyer. I notified them of the inaccuracy but nothing showed up and bidding went on. Some state's attorney will have a field day with them one of these days!
I'm in the same situation as bill j. I have a contract on a house, waiting on the bank approval, they are holding my earnest money and I realize yesterday that my house is on auction.com! How can this be legal? I'm contacting my attorney first thing Monday. I'm not gonna bid on a house when I have a binding contract. Also isn't shill bidding illegal? It's not allowed on eBay, what makes them any different... hmm
I registered and bid on an auction. It kept saying reserve not met, then when I tried to bid more it would not let me confirm a higher bid and then the time ran out. After the "auction" the listing disappeared and even the local listing agent could not tell me what happened. I will not be using auction.com ever again.
It keeps amazing me how deceitful these people are. I bid on a property up to 40k, It got bid higher up to 45k within 2 minutes after the auction ended they called me and asked me to raise my offer 2 k. I told them no and then they said they would get the seller to take my offer anyway. When I asked them what happened to the other bidders they said they did not perform. Really? In 2 minutes they didn't perform. Obviously they are bidding these up on their own. Also don't bid more because the reserve isn't met. Its a trick they will still take the highest bid in most cases, you will literally be paying thousand more than you need to. Stay away!
Hi Phil,
Thank you for taking the time to post about your experience, and I'm sorry to hear you're unhappy with our processes. While our policies prevent me from discussing the specifics of your particular situation online, I wanted to reiterate that we strive to be as transparent as possible with our online marketplace and encourage all of our customers to do their due diligence in reading all our policies. The bidding process you are referring to is outlined in our terms & conditions. As disclosed in section 3 and where allowed by law, Auction.com acting as the auctioneer, may bid on behalf of the seller up to the reserve price. I've included the first paragraph from Page 3, Section 3 of our Terms and Conditions page for your reference below. I'd also be happy to further explain our process and policies, and to discuss how we can improve our platform so please either message us via our Facebook page (https://www.facebook.com/Auctioncom) or contact me (Peter) or my Customer Service Managers Yamir Gonzalez or Vicky Hernandez at our customer service line 800-793-6107.
Thank you, Peter
Director of Customer Service
Auction.com terms and conditions: Page 3, Section 3 - Auction.com Terms and Conditions Reserve Auction.
This is a reserve auction, unless otherwise noted in a specific Property listing, and all Properties have a reserve price (“Reserve Price”), meaning the Seller of each Property can accept or reject any bid and has also established an unpublished, minimum selling price. The starting bid is not the Reserve Price. Except where prohibited by law, during a live bidding event (online or otherwise) the Auctioneer may open bidding on any Property by placing a bid on behalf of the Seller and may further bid on behalf of the Seller up to the amount of the Reserve Price by placing successive or consecutive bids for a Property, or by placing bids in response to other bidders. If no bidders meet the Reserve Price, the Seller is under no obligation to sell the Property (see “Subject to Confirmation” section below). The Seller may withdraw a Property at any time prior to the announcement of the completion of the sale by the Auctioneer. Auctioneer is not acting as an agent for any Bidder in any capacity, and is acting exclusively as the Seller’s agent as an auctioneer.
This house has been on acution three times. Pulled off the first two for Unknown reasons per auction.com, someone sent them a email telling them to do it.
The realtor attached didn't have any information and refused to show the house, then when we complained she showed us and knew all about the inside of it,,, hmmm, how could that be? You said you knew nothing about it.
Third auction time, bidding jumped from 50,000 to 110,000 then 160,000 they said it was a mistake and took the website down for "maintenenace"
Web site comes back up and it is showing the same, customer service now says it is correct.
While im talking to him it jumps to 210 and then to 285,000 suddenly the "Bid increments" went from 50K to 25K. Now they are going down? And is still says reserve not met. Really?
This place is crooked... this home is nowhere near 285,000 it only fair markets valued at 148K and that was in the best days of the real estate market.
RIDICULOUS don't waste your time and make sure you call to REMOVE the hold of the deposit on your credit card account.
Auction.com is primarily a source for banks to unload foreclosed properties. The "deals" are not exceptional and any perceived value you feel you may gotten with a winning bid is is illusory with the buyer premium and other undisclosed costs which will add 8%-10% to the cost of purchasing a property.
I have won bids with the reserve met and then their seller never approves the sale therefore it is just a waste of time. Then I have been asking for my $2500 deposit back now for 2 weeks. They are a joke.
This site is "ALMOST" a scam. I say almost b/c you can buy something from it and they are honest about the property (usually, about as accurate as eBay and Amazon) and you know the price. You won't be happy with this website or product, trust me. If you are on this website with high hopes to buy a cheap, good, property then you are fantasizing. Here is how it works:
You buy some bids (very expensive):
Find a great property and place your first bid. (say 1,000)
You get extremely lucky and no one else notices (this is best case scenario)
Bank selling the property notices and the computer automatically starts bidding.
You, thinking this is someone else tries to outbid it. (You can but the computer won't stop until the bank is satisfied with the price that they want to sell, since they are controlling the computer bidding against you).
So in the end if you try to outbid it you will not pay 1,000 dollars for a 150,000 property but from 100,000 (if the bank has failed several times to sell this house before and want to get rid of it) to 180,000 (if it is the first time trying to sell this property).
Better of buying with a real estate since he/she charges 10 times less than the bids
They repeatedly misrepresent and outright lie about property one house in Oregon has no well or septic and not enough land to install them, even knowing this the property is back at auction for the 3rd time. When confronted with this they lie and say they were not aware, when thier first auction stated this fact. This property is ******* Ault St., Rocky Point, Oregon in Klamath County
From the business
Auction.com, the nation’s leading online marketplace focused exclusively on the sale of residential bank-owned and foreclosure properties via online auctions and in-person auction events. Auction.com goes beyond the bid to offer buyers a superior technology platform for convenient online and onsite access, an extensive inventory of over 30,000 properties, and supportive services and expertise dedicated to buyer success.
Auction.com is headquartered in Irvine, CA with offices in key markets nationwide. Investors include THL (Thomas H. Lee Partners), CapitalG (formerly Google Capital) and Stone Point Capital.
To learn about Auction.com, LLC, please visit www.auction.com/lp/about-us/
LICENSING INFORMATION:
Licensing Link: https://www.auction.com/lp/legal/licensing-disclosures
Texas Real Estate Commission
Information About Brokerage Services: http://mlhdocs.com/legal/agencydisclosures/ADC/Texas.pdf
Consumer Protection Notice: http://mlhdocs.com/legal/TexasCPN.pdf
See reviews as you browse!
Get the Chrome Extension.
Add Extension
- SmartCustomer’s sole mission is to increase online transparency for buyers and businesses
- SmartCustomer has helped over 200M buyers make better purchasing decisions online
- Suspicious reviews are flagged by our algorithms, moderators, and community members
- SmartCustomer’s sole mission is to increase online transparency for buyers and businesses
- SmartCustomer has helped over 200M buyers make better purchasing decisions online
- Suspicious reviews are flagged by our algorithms, moderators, and community members
Hi J P,
Thank you for sharing your experience with auction.com. It is difficult for me to comment on your situation without further detail. I can tell you if the reserve was not met, then the seller most likely pulled the property down after the auction was over. However, I would be interested in finding out more detail regarding your not being able to confirm a higher bid. Due to our privacy policies, I cannot discuss on this open forum but I would appreciate the opportunity to speak with you regarding this matter. We strive to provide the most transparent process as possible on our online marketplace and are always looking for ways to improve the customer experience. If you could please message me via our Facebook page (https://www.facebook.com/Auctioncom) or call our customer service line (800-793-6107) and ask for me (Peter) or my customer service managers Yamir Gonzalez or Vicky Hernandez and we’d be happy to speak with you.
Thank you,
Peter Chevalier
Director of Customer Service