Ten-X Platform Reviews?

[Christian D.]

Curious to know if anyone has used the auction platform Ten-X to acquire commercial properties. I believe the site used to be "auction.com" and they were bought out? Any feedback or user experience with the platform would be greatly appreciated.

[Joel Owens]

I stay away from auctions. Too many newbies get in a bidding war and overpay. It's the auction houses job to drum up euphoria and talk buyers up. Sometimes auction companies have GHOST BIDDING meaning the seller has instructed them that even though starting bid is 1,000,000 they give auction company permission to bid like a real buyer until their desired minimum is reached.

Basically the process is all stacked in the sellers favor. I like properties one on one that nobody knows about or very few so I can get price and terms i desire on a purchase.

I am sure somebody somewhere bought a decent deal before but over the years I bid on a few and it goes to a crazy level in price every time.