| While most buyers and sellers on internet auction sites
are honest, there is always the threat of underlying fraud.
Auction sites have had instances of sellers posting pictures
of items for sale, only to include in extremely small print
that buyers are only bidding for the photo rather than the
item itself. When the photo arrives in the post and not
the product, buyers are obviously outraged.
Steps to avoid online auction fraud
1) Check seller's feedback
One of the best ways to judge a seller's honesty is to
check his or her feedback. Most buyers will give feedback
on a sale, rating the seller in the seller's Feedback Profile.
If the feedback is negative, it will be very difficult for
that seller to buy or sell anything on that auction site
in future. Check the seller's feedback and if it is not
overwhelmingly positive, do not buy.
2) Find out seller's contact details
Before you enter into a deal, try to establish contact
with the seller. On eBay you can search information on a
member by visiting the Find Members page. If you can get
a phone number or an email address, you have a better chance
of solving any future problems. You could establish contact
with the buyer by requesting further information about the
nature of the product in which you are interested.
3) Payment Methods
Credit cards are the safest way to buy anything online
for the simple reason that, in the case of fraud, most credit
card companies will cover the cost. Online payment services
such as PayPal and FastPay are also popular with auction
site users because of their safety. These are account-based
systems that send money via credit card or bank account.
4) Use an Escrow Service
For higher priced items you should consider an escrow service.
An escrow service acts as a middleman between the buyer
and the seller to ensure a fair transaction.
The escrow service holds the item and the money until the
buyer has inspected and approved the goods. Only then does
it release the money to the seller.
The only downside is that it will cost the buyer extra
to use this service. However, it is something to bear in
mind when buying more expensive items.
5) Complaints/ Fraud Protection
Most online auction sites have a complaints' procedure.
For example,if you're unhappy with the goods or you have
not received them, Ebay operates a fraud protection program
which you can find within their pages.
To sum up, most buyers and sellers on internet auction
sites are honest. However, if you use the above tips, you
should not fall victim to auction fraud.
Source: howtoadvice |
