zlacker

>>cwwc+(OP)
> When he sold the truck, his buyer hooked it up to a computer that told them the real mileage was around 400,000 miles.

I’m not knowledgeable about odometers at all, but if it’s as easy as “hooking up to a computer” to get the real mileage, why don’t people do that when they buy the trucks?

>>oefrha+l4
wholesale auctions operate with a surprising amount of trust, often buyers never actually see the car, they buy based on the specs and description. The vehicle is then shipped to the buyer, and in some cases. the buyer, when finally seeing the vehicle, will get in touch with the seller and say "this isn't "great" condition, this is "good", for _reasons_" and negotiate an adjustment of the price to reflect that. The plaintiff is in the comments of that article and mentions most auctions don't allow computer diagnostics on a car.

>>habnds+A6
Most auctions just don't allow real inspection at all. At best they pop the hood and let you look at the undercarriage or drive the car by for a minute (and quite a few auctions will ask you to pay for even that tiny amount of inspection).

That said - odometer fraud is a big fucking deal here. A vehicle with unknown mileage is worth far less at auction (just the fact that it's unknown is a huge flag) and if the auctioneer was aware of the fraud (as they're implying Holman Fleet Leasing was) then I'm curious to see how this is resolved... a smaller auction house would likely see jail time for several employees.

>>horsaw+ya
One would think that the auctioneer would benefit from maximal disclosure, as the present situation as you describe it is precisely that portrayed in Akerlof's "The Market for Lemons":

<https://en.wikipedia.org/wiki/The_Market_for_Lemons>

Moreover, many states require regular smog checks, at least on passenger vehicles (though I'm not sure what the situation is for commercial vehicles). These entail a comprehensive electronic data record, much of which is automatically captured from the vehicle, and which is available for sale. Auto insurance companies have used these data for years, if not decades, to set policy rates as miles driven is a principle driver (ahem) of risk.

If VINs are avaiable for the vehicles being auctioned, it's possible that a service such as CARFAX might carry such data. I suspect bulk / corporate buyers would tend to have access to such information, whilst small-time operators / individuals likely would not, which throws an additional bias into such auctions.

>>dredmo+Oz
The auctioneer knowingly keeping a secret that could cause a downturn in the market once discovered and publicized in years and in the meantime keeping a giant client sounds very rational.

>>HWR_14+hJ
Auctioneers would simply have a standard practice with respect to disclosure to protect their reputation, not keeping secrets. I know of none that advertise that they use a computer to verify the mileage/hours on equipment - if one did I am sure they would advertise it and be religious about its execution.