Genesis Auction

Huge scamI wouldn't waste my time with this auction site ever again First of all, they shill the bidsI was bidding on a property with a proxy bid of 149kWith minutes to go, I still had the highest bid at 132k until someone bid exactly 150k to outbid me (which shows they knew how much my proxy bid was)I took the bid all the way to $156k, but gave up after the shill bid went up to $158kI sat there and watched the clock wind down to 0, only for the page to reload and show me having the highest bid at $156k with minutes to goIt couldn't be more obvious Still, I was satisfied with the price, so I proceeded with my bidThey auction rep told me that the bank accepted my offer pending a signed contractHe also explained to me that winning the bid gave me exclusive rights to negotiate with the bankI signed the contract and sent it over, but they delayed signing the contract I found out that they relisted the property on the auction site to try to get a higher bid

Terrible experience with this so called "auction" company I was a high bidder on a no reserve auctionNowhere on their site does it state they have "reserve" auctions I even spoke directly with a customer service person and ask directly if there is a reserve Once the auction closed, I received a congratulations email hours later, I received another email asking for my "best" offer and they will submit it to the seller This is exactly what this company does There is no "auction" They get people to bid on a property, they then act as an agent and submit this offer Complete lack of transparency Do not waste your time I was required to submit bank statements and my corporate articles prior to bidding and a fake auction

Huge scam. I wouldn't waste my time with this auction site ever again.

First of all, they shill the bids. I was bidding on a property with a proxy bid of 149k. With 8 minutes to go, I still had the highest bid at 132k until someone bid exactly 150k to outbid me (which shows they knew how much my proxy bid was). I took the bid all the way to $156k, but gave up after the shill bid went up to $158k. I sat there and watched the clock wind down to 0, only for the page to reload and show me having the highest bid at $156k with 2 minutes to go. It couldn't be more obvious.

Still, I was satisfied with the price, so I proceeded with my bid. They auction rep told me that the bank accepted my offer pending a signed contract. He also explained to me that winning the bid gave me exclusive rights to negotiate with the bank. I signed the contract and sent it over, but they delayed signing the contract. I found out that they relisted the property on the auction site to try to get a higher bid

Terrible experience with this so called "auction" company. I was a high bidder on a no reserve auction. Nowhere on their site does it state they have "reserve" auctions. I even spoke directly with a customer service person and ask directly if there is a reserve. Once the auction closed, I received a congratulations email. 24 hours later, I received another email asking for my "best" offer and they will submit it to the seller. This is exactly what this company does. There is no "auction". They get people to bid on a property, they then act as an agent and submit this offer. Complete lack of transparency.
Do not waste your time. I was required to submit bank statements and my corporate articles prior to bidding and a fake auction.