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Equipment Monthly / Bidder's Circle...Scam?
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rty
Posted 1/6/2021 13:41 (#8727663)
Subject: Equipment Monthly / Bidder's Circle...Scam?


SW MN
Has anyone bought or sold equipment through Bidder's Circle (www.bidderscircle.com) or Equipment Monthly (www.equipmentmonthly.com)?

We have a tractor for sale. A guy reached out from this company claiming a tractor just like it sold for a really good price on auction and he thought he could get a good price for ours, above our asking price. Our asking price isn't on the low end. It's a nice tractor. My dad decided to humor him and let him list it. He had to pay an upfront fee, and then it would be listed on their auction website (Bidder's Circle). That was it. No terms/conditions, no papers to sign, nothing. Apparently just a verbal explanation of the process, which was basically that it would be listed on the website, and if it met the reserve price, the money would be wired to our bank account before anything happened with the tractor.

That was about a week ago. The auction supposedly ended yesterday, and the winning bid was a huge price, from someone in our state. ~10% more than our advertised asking price. Supposedly the winner has to put down 3% (apparently they are a finance company too) and then they will wire us the full amount of money for the tractor. No prospective buyers reached out to us for more info on the tractor, and we have yet to get any contact info from the winner (supposedly they will send it to us).

I don't have a great feeling about any of it. Seems way too good to be true, and I'm afraid there's some big catch here. The auction website seems like just a shell of a website - it doesn't seem very legitimate. No terms or conditions, no seller contact info, almost nothing other than pictures of equipment, a really high starting bid price, and a button to bid. And I never saw any bids on our listing when it was up.

I don't see how this little website and company could attract enough potential buyers to result in a price significantly higher than our asking price on Tractorhouse. It's not a cheap tractor. I'd think anyone in the market for a tractor like this would:
1. Know about Tractorhouse and would have seen it there (this guy used the same pictures and description)
2. Want to get ahold of us to come look at the tractor or at least ask us questions before bidding
3. Know the approximate market value range, and know their bid was very high relative to it

Anyone been involved with this company before, or know what the trap is here? If we actually got to the point where the money was wired to our account, is it safe? I can't figure out the catch...yet. Would be nice of course if it was real, but I just can't bring myself to believe this is legitimate, and I don't want us to keep playing along. I'm curious what you all make of this?
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