Fly By Night Auctions
New sites are popping up constantly and you’d be shocked if you saw the way they are defrauding people behind the scenes.
Incestuous Sellers
Sellers like Simon can conspire with auction site owners and other sellers to bid up legitimate buyers with their own accounts and fake accounts. Never enter a maximum bid on a horse. It’s basically a license to steal for these people. Many of these sites are under investigations currently.
Fake Bidders
It’s easy for Simon and other sellers to create fake accounts to bid on their own horses. This along with the fact that site owners often know how much a buyer is willing to pay takes all of the competitiveness out of the process and allows them to milk sellers for sometimes tens of thousands of dollars more than they would otherwise have to pay for a horse. That’s fraud!