Bid4Assets.com - Bid4Assets.com - I had discovered an auction site named Bid4Assets approximately the same time I noticed received advertising of the

Posted on Wednesday, September 8th, 2004 at 12:00am CDT by a66de67a

Company: Bid4Assets.com

Category: Online Shopping

off auction listing special through ?Ina Steiner? news letter (AuctionBytes NewsFlash - July 22, 2004), I thought I would give the auction site Bid4Assets a chance. I read all of the terms of service agreements and joined. Although Bid4Assets listing process is long and not user friendly at all, I successfully listed 3 art items. After listing the pictures, html, and all other needed information the Bid4Assets listings needed to be held by bid4assets pending an unexplained approval. After waiting four days I emailed bid4assets asking why nobody had released my item for auction nor has anyone contacted me.

I received a reply from bid4assets asking to provide proof this was my item. I went back and forth with email figuring out how I can prove it was mine, I even took a picture of the item with my drivers license laying it on top of it and emailed it to them, never the less this was not good enough . I was then notified that I needed a receipt with my name on it, I do not have such a receipt nor would most people, I thought this was very odd, I have auctioned for many years, on and off-line and never had to prove anything to this degree. I decided to have an affidavit drawn. After faxing it in to bid4assets had further requested to have it notarized. B4a

?Please fax Proof of Ownership to 301-650-9194, Attn: Jessie. This is needed before your asset can be released. Thanks. Jessie? I had the affidavit notarized, faxed it and waited. The auctions finally opened! On two of the auctions that were released I received email questions about the items, one email I had received had 45 (FORTY-FIVE) questions! 90% of what was asked would have been answered on the auction itself had it been read. I figured I would answer all of the questions, often I would simply copy and paste the answers to the question from the auction itself, in the end I realize this was a standard email letter that was likely sent to most sellers on Bid4Assets, the person never did bid, I strongly suspected this was Bid4Assets and not a member because it was so odd. I did start to receive some bids on two auctions, successfully selling 2, although, we were only paid for one, we waited a long time to get paid for the second. While that was going on I thought I would auction off two more items, thinking ahead I had new affidavits notarized, and faxed them in ? twice, never the less I needed to email them again for release, they were then released. I then had bids on my third (the first of three) auction, then an email from Bid4Assets customer service asking me to resize my pictures which I did within five minutes, however the first three had the same size, furthermore other auctions I looked at on Bid4Assets other than mine had large pictures too. I shrugged this inconvenience off thinking I went this far, I?ll give them a chance and continue. I then get a phone call from Bid4Assets stating they are making random verification checks, and I was selected, (I think) gosh about a week and they are checking me out, how random? I only see a few people auctioning on this section.

I needed to supply a faxed copy of the credit card, front and back, my drivers license and my wife?s, front and back, a utility bill, the credit card statement for the credit card being used (By The Way they took out the 10% fee for the auction wins), Ms [privacy edit] also said ?sometimes the DL # does not come out clear so you may need to mail it in? she continued to say that my auctions will be placed on hold and this information needs to be in by the end of the day, thank god I have a scannerfax and all then necessary documents..

Ms [privacy edit] called back and went on to say ?now all you need to do is join eDeposit (an online bank of sort) after that were all done.? At that time I asked her if I was going to need to go through all the red tape of affidavits etc. she said no, I would not have a problem here on out unless there are any situations, I said there wouldn?t be any situations . Attempting to join eDeposit I discover it runs a credit check, I am in the process of buying land and building, not to mention repairing my credit, I was advised not to have unnecessary credit checks by an accountant and also read about this on creditexperts.com, therefore my wife joined eDeposit.

My wife emailed them; Us

?My husband has asked me to open an eDeposit account so we Could have our Bid4Assets account taken off hold.? B4a ?Thanks for the update. Please beware, the account holder/seller would need to register with eDeoposit. Since he is listed as the account holder/seller, he would need to register. Let me know if any further questions.? Us ?Okay, I'll change the bid4assets account into my name. he deals in real-estate as well, he has a contract on land and he will be getting a construction loan. His accountant advised him NOT to have any unnecessary inquiries that would positively effect his score.? B4a

?You can go into your Bid4Assets account and update your information on-line. I'll review the information and contact you soon.? Us All requested changes have been made. B4a ?We have verified the information received, your account and listings will still be placed on hold pending some further information for approval. Please note, he would still need to verify through eDeposit since proof of ownership of the assets are in his name. Please note, registration into edeposit, only generates an inquiry and doesn't affect the total credit score. Please contact eDeposit at 301-562-3451 for further details. Please contact me with any further questions. I'll contact you once the verification and review is complete.? Us

We have given you more information than we would for small loan. I am legally married to him and everything we have is legally joint. I have power of attorney, I can sign or sell anything I wish by his Word alone, any legal expert would verify this. We file taxes jointly, I have not signed a prenuptial agreement. Never the less I can fax you a new affidavit stating so. Frankly I'm a little nervous about giving up so much personal Information, especially in these times. He has completed every task You request so far, now I am taking over and I see no end to the red tape. eDeposit is an influential power which sways the judgment of bid4assets for registration of sellers, this is bias, not legal. Every time a credit inquiry is made it effects the points on the Parties credit. I monitor our credit through creditexperts.com, you Can verify this through that site or with any other credit agency. A soft inquiry is only for me to see, this is the only one that does not influence your credit score. "If you do have negative information on your credit report, such as public record item or too many inquiries, your best strategy is to pay your bills and wait, inquiries can no longer be removed." This is on your credit reports and credit contracts. "all debt acquired during a marriage is considered a joint debt, regardless if the account is joint or in the name of an individual spouse." Again, legally "marriage is considered a joint"

I re-read the Terms of Service for bid4assets and I did not see anything that states a seller must join edeposit, never the less I

joined. After reading it again I took out the sections of Terms of Service

that had the word eDeposit and pasted them below. I realize eDeposit may be owned by bid4assets. ----

All first time Bidders must provide a valid major credit card before entering a bid unless a bid deposit is required through eDeposit. Success Fees or Commissions related to a completed auction are due to Bid4Assets, Inc. at the time an auction ends and is marked as Sold, unless the Seller elects to use eDeposit for Payment Processing Services or other payment terms are agreed to by Bid4Assets, Inc. If the Seller does not notify Bid4Assets,

---

Those two sections of the terms of service

I can have a legal and notarized form drawn for agreement to sell personal property from him, yet again, we are married. We continue to play along.. An email to b4a July 23 04

?We were about to list more art and notice the this account is on hold, again. We had auctions in progress with bids.? There was a $500 bid when the account went on hold again. B4a

?Thanks for your response. Again as stated until, complete verification is conducted and completed with your account, your account and listings will be placed on hold. Please contact me if you would like credit back to your credit card account and we will cancel your listings accordingly.? Us

?What needs to be complete?? At this point bid4assets had enough information about us to sell to terrorists and create a new identity, or other illegal activities. My wife started to phone [privacy edit] that day at 11:30 am, out of 6 calls in, she was put on hold and then dumped three times, then transfer to [privacy edit]s VM twice, then she spoke to the person who answered the phone and asked for [privacy edit] to call back, or, speak to someone else. My wife was told that [privacy edit] would be finished in 5 or 10 minutes, My wife called back in 20 minutes to play it safe, the first call back went to a recording saying they she was the next to be answered, then her call was dumped, My wife called back immediately and finally at 2:37pm spoke to [privacy edit]. My wife came out and asked [privacy edit] what it was exactly she needed to do or provide to have the current auctions released? [privacy edit] said the auctions would be cancelled and our CC would be credited. [privacy edit]s new explanation was ?We need to see feedback from the two buyers first, then we will make a determination? My wife asked if that would be it, would there be any other stipulations to continue, [privacy edit] answered by saying we will make a determination on August 6th after the feedback. My wife continued to asked, will there be anything else we would need to do to start listing again, [privacy edit] said ?I am not going to argue about it, I will terminate this call? My wife continued to ask when did this policy come about, My wife mentioned a name of a person who sells on b4a and bought from us in the past, My wife said she would contact him to find out if this is what he went through, then [privacy edit] said a few days ago the new rule came into play, although it is not stated on their site as of 8-16-04. My wife asked her, ?what happens if they (the two auction winners) don?t leave feedback?? [privacy edit] then said, ?then you can?t auction.? [privacy edit] also said she tried contacting the buyers, they had not answered her yet.

Although we have provided all the information [privacy edit] asked for, joined eDeposit and fix any other html or any issued, supplied copies of documents and executed notarized legal documents, [privacy edit] said by August 6th we will make a determination after the feedback. Even though I had not been paid for one at that time, and I had just received a wired for another auctions just two days ago, brought it into ?Pack and Mail? yesterday, and had it shipped today - not to mention an auction in progress was pulled with no explanation. Bid4assets reasons? are evasive, unexplained, and ambiguous at best. My wife asked to talk to her superior, [privacy edit] said there is nobody above her. My wife tried asking why [privacy edit] was making this so hard on us, [privacy edit] said she did not want to argue about it, my wife replied the her by saying she was not arguing but wanted an explanation, [privacy edit] refused to discuss it any further. ?[privacy edit] had said to me that we would have NO PROBLEMS once the personal information is given, your auctions would be released and ?you will never need to go through this again.? [privacy edit] is denying to My wife every word she said over the phone to me and will not answer any of our email from early today. About August 4th we received positive feedback from both sales. So around that time I emailed [privacy edit] saying that we had favorable feedback and I could give her titles to both our cars to further prove our existence. She replied by saying ?thanks for the additional information, we will get back to us on August 6th?. Half the day on August 6th had passed and I did not hear from her so I emailed her form My wife email address?? ?My wife is at the Community Hospital in Illinois do to the stress in recent weeks that triggered pre-labor contractions at 32 weeks. Her room number is *** if you need to verify my word. I see that favorable feedback was left, today is Friday, August 06, 2004 at 11:51:22 AM. I spoke to My wife minutes ago and she asked if I heard back from you. I am going to see her within a couple of hours. I hope to bring her good news for every concern she may have, this being one of them. We have completed every task you asked and kept every promise made on our end, we have waited until half way through the day you would contact her, all of this despite other stressful situations' within our family. I am confident in the end we will find out what this was truly all about. If it is due to false statements by a third party, I would hope you would pass on this information so we can take appropriate actions. For obvious reasons Bonnie will not answer the home, office or cell phone. Call the hospital for verification if you wish. I may answer my cell phone, however, email would be the best choice for now.? So she responded with?.. ? CS> ***** and ******, CS> Thanks for your response. Unfortunately, we are not able to accept

CS> you as new sellers. Due to specific requirements for our new/current

CS> sellers. Some information you provided was not verifiable. We

CS> appreciate your interest in Bid4Assets. We have processed credits

CS> for listing fees [privacy edit]ged to you for auction

CS> closed. Please contact me if you have any additional credits or

CS> non-payers on any auctions that sold. CS> Wishing you the best with your new baby. Again thanks for your

CS> interest in Bid4Assets. CS> Sincerely, CS> [privacy edit]

CS> Client Services Manager

CS> Bid4Assets? So I then re-replied?. ?Please provide us with what was not verifiable. Also provide us with specific requirements for our new/current sellers we did not meet. We would be able to meet any requirements and verify all information we provided.? We received the notice of deliver of email and a notice the email was read, although [privacy edit] never replied. On the b4a site it states ?We have built our company to meet the needs of buyers and sellers. By harnessing the efficiencies of the Internet with traditional full-service solutions, we make it easier for you to buy and sell assets from multiple categories.? That statement is obviously NOT TRUE. Attempting to find out information about b4a is incredibly difficult. They are not in listed in etrade, I searched the entire internet of linked sited, yahoo, google, all contact names are either letters or names like? [privacy edit], J who was latter discovered to be Jessica Wilder, So far the only information I was able to obtain was; Bid4Assets Inc. 1010 Wayne Ave., Suite 505 Silver Spring, MD 20910

Phone: (301) 650-9193

Fax: (301) 650-9194

Web site: www.bid4assets.com

Chief Executives:

Thomas L. Kohn, CEO; James F. Russell, President

Products:

Online sale of REO

Online Offerings:

Assets from distressed situations, from financial institutions, government, bankruptcy professionals and private industry. Jennifer Monroe, the company's vice president

About 28 employees. Gathering all of out evidence for our attorney, I decided to fax a letter from out CC company verifying the address. I emailed [privacy edit] for the last time. ?We have faxed you a letter from our CC company from the card on file

for further verification. ###### was informed of how you were unable

to verify this information, ###### cast doubt on your claim.

********* is our attorney handling this case, we expect action

to start within a week.? I got one last reply from [privacy edit].. ?Please note all your auctions have been cancelled and credits have been processed as you were informed in numerous

previous emails. You are denied as a Seller on Bid4Assets. No further response to future emails will be answered,

as this issue is closed. Thanks

[privacy edit]

Client Services Manager?

We supplied a lot of personal information to B4A and accomplished every task and test. We have not one reason being as a Seller on Bid4Assets. Something is fishy and I intend to find out what is going on. John


10 Comments

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7c06bf9b, 2007-11-06, 07:41AM CST

even though this was posted a couple years ago, im still going to comment, sounds like this company was testing them out to see just how much they have in assets, credit, etc. they would have taken these people for everything they could get, and i hope the complaintant had good luck after this with nothing missing from their bank account or no identity theft having occured. posts like this are so necessary to alert people to these scams.

eddc1272, 2007-12-19, 03:49AM CST

Bid4assets is being Investigated by the F.B.I. for internal shill bidding, illegally enticing sales, this illegal practice is usually perpetrated by private criminals and is hard to prove but bid4assets can be proved beyond a shadow of doubt to be shill bidding internally which is a federal offence. Electronic transfer of false information across state lines is federal felony wire fraud. Here is an obvious honest person trying to sell their art on bid4assets with profound difficulty and Alton Perkins is a major Internet thief and a convicted Fraud criminal and sells William Verdult paintings that Alton Perkins stole by deception. Bid4assets was sent letters from my attorney. The paintings that user name Yazzy??s is selling on their auction site are in fact stolen. We have filed complaints with the F.B.I. against bid4assets of internal shill bidding (A federal Felony) and complicity in the sale of stolen fine art worth more than $2000.00 across state lines (A federal Felony).

2da348ca, 2008-08-09, 08:35PM CDT

Hi, I was reading the complaints and I just wanted to say that I have been selling on bid4assets for approx. 4 years now and have had a few minor problems but they have always been resolved quickly. I have just as much problems with ebay as bids. Anyways I am not defending them just wanted to say that as a seller I have only had problems with not getting paid by a winning bidder. And when the bidder doesn't pay I submit a refund form and after 3 days I either get paid for the item or get a refund of the closing fee. I hope this info is helpful to some just wanted you all to know that not everyone who sells on bid4assets is a scammer. Have a blessed day.

0adabdae, 2008-08-19, 07:17PM CDT

if you are tired of all fees on ebay.com and bid4assets.com then visit www.bidonassets.com instead

c458eec9, 2008-10-14, 12:39PM CDT

Try http://bidsplash.com I deal with babygirl she has the best auction prices and shipping prices..

6836dc59, 2009-01-25, 04:28AM CST

I PAID FOR THE ITEM AND EMAILED B4A SO MANY TIMES AND THEY JUST WILL NOT TAKE THE HOLD OFF MY ACCOUNT.CAN I SUE B4A,I THOUGHT THE ONLY OUTFIT THAT COULD PUT A HOLD ON YOUR ACCOUNT IS THE BANK,IRS.HOW CAN A SIMPLE ONLINE AUCTION PUT A HOLD ON YOUR ACCOUNT EVEN AFTER PAYING FOR ITEM...CAN I SUE AND WHO DO I USE

45d901b9, 2010-05-27, 08:51PM CDT

Bid4Assets Pure Scammers, immature software, immature customer service. have a buy it now option that is really a bid, does not track the buy it now bid once received. No real resolutions to issues, bend and sway with the wind instead of having policy and procedure.

In short fly by night trying to take your money

9fe5ab69, 2010-08-23, 03:34PM CDT

I bid on their site and I was swindled by a vendor who told me many lies,knowingly misrepresented the property and took my money. I filed a report with the FTC.

a5a3f6bf, 2011-05-08, 10:53PM CDT

I have Tom's email and phone number if you would like to call him to talk about this. Honest I do.

f8074060, 2013-09-03, 09:17AM CDT

DO NOT BUY anything from bid4assets.com. Their "land" auctions are a scam. Don't buy ANYTHING from them, AND if you find out they are a scam after you make the purchase, and do not pay they will charge your credit card $250 and suspend your account for a non bidder status!

I was the unfortunate victem of such an ad.

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