How to Protect Yourself from Shill Bidding in Horse Auctions
With so many privately run horse auctions popping up on the horse scene, the opportunities for cheating and abusing the trust of buyers has risen too.Educating yourself and following these tips can save you thousands: NEVER give an auction site or seller your maximum bid amount. Never bid until the final moments of the sale. Always bid yourself, don't use a proxy service. Always set a budget before the bidding begins and don't change in the heat of the moment. Always speak to the verified owner of the horse personally. These are some simple but important steps you can take that can save you literally thousands of dollars and keep you from overpaying for a horse. If you don't win an auction, don't worry, there will always be another one! It's better to pass on horse than to get caught up in the moment and make a decision you'll regret later on. You want to start off your journey with your new horse with no regrets or resentment toward a seller.While it doesn't happen in every time. Many online auctions have created an environment that lends itself to taking advantage of buyers. There are certain catch-phrases you can pick up on that should make your antennas go up. If you see an auction offering incentives to buyers and referring to it as things like premier buyers, vip buyers, priority bidders, premium bidders, and they're offering to waive buyers fees or…
Richard JacuzziAugust 6, 2024