GL Gripes....

[Vendetta]

Hi, I feel like ranting... sorry.

I thought maybe I imagined it the 1st time it happened but the 2nd auction it happened again and I knew for sure... the end time was supposed to be at X:XX o'clock but instead ended over and hour later and by doing so drove up the price exponentially. When I investigated it I found this in the GL FAQ... Does anyone read all of the details and the fine print? Am I the only intellectually challenged person that didn't... was I the only one not aware of this? Aaarg... well, at least now I know but I think I will have to re-think my bidding strategy/price points.



Q: The close time was listed as 7 p.m. EST, but the lot stayed open well past that time. Why did the auction not close at the specified time?
A: Per <A href="http://www.govliquidation.com/terms.html" cmImpressionSent="1">Government Liquidation Terms and Conditions, Internet Auction lots close in accordance with the 15-minute rule, which states, "At the scheduled closing time, the lot(s) with active bidding will remain open for fifteen-minute (15) increments until all bidding has ceased". Generally regarding Internet Auction lots- if the bidding box is open, the lot is available for bidding and customers are still able to place a bid.

 

[doghead]

SS gripes, posting in the wrong forum....

http://www.steelsoldiers.com/government-liquidation-drmo-gsa/

 

[fuzzytoaster]

Yep, thats the GL game. If a bid is placed within 15 mins of auction close the timer resets to 15 mins. This repeats until no one bids and time expires.

 

[m16ty]

Does anyone read all of the details and the fine print?

When it comes to GL, you better read all the fine print. If you still haven't read it all before you accually win something or you'll be pi**ed again.

 

[Vendetta]

Yeah, read through all of it as dry and boring as it is... I always thought of myself to be a Homer... That'll teach me not to read the fine print anymore!

 

[velociT]

Happens just about every auction I've seen.

 

[ranchhopper]

Lets not forget they change end times and days of auctions at will too.

 

[3dAngus]

On ebay auctions, someone can outbid you in the last three seconds, and you don't have a chance to go back and rebid.
My guess is, the 15 minute rule is invoked to preclude any last minute/second bidding that will throw off the auction without opportunity to make a comeback on your desired piece. Ebay even sells software that is in effect a robot, that will make the last second bid for you. You don't even have to be in the same town as the computer, or even on line at all.

 

[mikey]

I read that fine print before I ever placed a bid. I didn't feel it was "hidden", but you should read the FAQ section before you bid.

I took advice from people here and it worked well. Set a maximum price you are willing to pay for a vehicle and set it to autobid. If you win, great. If not, there will be other auctions. If you continue to lose, then clearly others are willing to pay more than you for these trucks. Basic supply and demand laws.

Yes, many people seem to login in the last half hour and the bid price seems to double in that time. I can see why GL extends bidding. The higher the final bid price, the more they make. Seems fair for a for profit corporation.

 

[doghead]

Lets not forget they change end times and days of auctions at will too.

or, Pull an item completely, at anytime during the auction.

or, Notify you as the winner of an item the day after the auction, when you know that you were outbid during the auction.

 

[3dAngus]

They used to have to pull an item if an active unit in the military came in with the right paperwork and could demonstrate a need, thus relieving tax payers of buying another similiar item, and giving that unit the most expeditios process of procurement..

What would happen if the original high bidder withdrew his request after the auction? Would GL revert to the second high bidder? That could be a problem if you blew your budget on another auction thinking the first was out of reach with a higher bid.

 

[sic0048]

On ebay auctions, someone can outbid you in the last three seconds, and you don't have a chance to go back and rebid.
My guess is, the 15 minute rule is invoked to preclude any last minute/second bidding that will throw off the auction without opportunity to make a comeback on your desired piece. Ebay even sells software that is in effect a robot, that will make the last second bid for you. You don't even have to be in the same town as the computer, or even on line at all.

While this is true, I have to believe that GL is doing it to make more money. The higher the winning bid, the more money they make. So it makes sense that they will do anything in their power to increase the total bid. Keeping the auction open past the official closing time is a great way for them to get the bids higher.

Personally I don't like the rule. It reminds me of the kid that changes the rules of a game during the game to ensure they win....

 

[paulfarber]

Wow GL can't win... they follow the rules and still get blamed for 'cheating'? I knew about the 15 minute rule and my first big was my only bid. It auto-bid up and I won. Just like they said it would.

Just becuase you want to buy an item doesn't ENTITLE you to it. With the amount of $$ GL makes off the auctions one would hope they are not as crooked as most people make them out to be.

Bottom line is that until you get that cleared EUC and paid in full invoice that item is not yours and is subject to their rules.... prior sale, cancellation, just like you would do if you were selling an item.

 

[KsM715]

Dont like the GL rules, Ha, get in the back of the line.

 

[dragonman]

How about when you win something then they tell you it is no longer yours.
I bought a truck in Hawaii then had a little buyers remorse thought I paid to much for where it was located, I explained this to them and asked if I could retract my bid nope its a binding contract, OK I tried I will follow through Then a few days later they contact me and tell me the truck is no longer available. Hmm what happened to the binding contract?

 

[fuzzytoaster]

How about when you win something then they tell you it is no longer yours.
I bought a truck in Hawaii then had a little buyers remorse thought I paid to much for where it was located, I explained this to them and asked if I could retract my bid nope its a binding contract, OK I tried I will follow through Then a few days later they contact me and tell me the truck is no longer available. Hmm what happened to the binding contract?

Binding...for you. But just another sweep of the broom for them.

 

[Andy1234]

GL sucks. We all know it. They make the rules and change them as they see fit. Why? Because they can.

However, just be thankful that we can actually buy this stuff, instead of watching it all get shredded and sent to China as scrap.

Our tax dollars at work .

Andy

 

[SCSG-G4]

When I bid (and won) the poppet valve push rods for the deuce engines, there were three other lots that had no bidders, all were extended an hour, probably because I got the ones I did and they were hoping for other bidders.

 

[319]

These guys (GL) are not idiots. They are there to make money. It's their stuff to sell and they will do what is necessary to make the most profit. They don't care if you're offended by their rules because someone else (not just SS members either) is standing in line with cash.

 

[cjtroutt]

Ditto 319 Ditto