<p>This study investigates the impact of puffery on transaction outcomes using a unique dataset from Flippa, an online business acquisition platform. We find that puffery is negatively associated with both the sales price and the time required to sell a listing. Our results indicate that both buyers and sellers on Flippa incorporate puffery into their decision-making processes. Specifically, buyers tend to purchase listings containing puffery at reduced prices, possibly reflecting their ability to detect and devalue puffery. On the other hand, sellers using puffery tend to have an accelerated sales process, though this comes at the cost of accepting lower sales prices. Our study provides evidence that buyers on Flippa exhibit a level of sophistication by recognizing and discounting listings that include puffery.</p>