2010 - Volume #34, Issue #3, Page #05[ Sample Stories From This Issue | List of All Stories In This Issue | Print this story | Read this issue]
"Machinery Pete" Foils Attempted ScamAuction price expert, Greg Peterson, who runs the website Machinerypete.com and is also a well-known columnist who writes about current farm auction prices, recently got involved in an unusual Nigerian internet scam.
It seems an Alberta farmer posted a "wanted" ad on a national machinery website, and received a reply offering a 2007 Deere STS "repo" combine with 400 hours, for sale at $125,000. He was sent detailed information, including the serial number, and several nice pictures of the unit. But when he discovered that the "seller" was actually based overseas - yet the tractor was located in Minesota - his gut told him to be extra careful.
Before driving to see the unit or wiring any money, the farmer contacted "Machinery Pete" to inquire about combine values and to get a second opinion on the deal. Peterson engaged the help of an implement dealer and ag lender he knew in Minnesota to check into the claim more closely. Turns out, the combine with this serial number was actually a trade-in sitting on a dealership's lot but it had no ties to any overseas owner. The cautious farmer was right ű the deal was too good to be true. It turns out the scam originated in Nigeria, home of many internet illegalities.
You can read more about the attempted scamming at www.machinerypete.com or check out a video about the incident at: www.youtube.com/user/machinerypete
Peterson also posts videos of his trips to auctions all over the Midwest at this web address.
more at www.machinerypete.com
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