Saturday, July 5, 2008

Tips to Prevent E-auction Fraud


When you bid on something that's thousands of miles away, you can't easily inspect it. Alternatively, sellers don't know their buyers, and could be swindled. How can you protect yourself?

In fact, auction sites will never be able to offer complete protection against fraud. Ultimately, you have to learn to PROTECT YOURSELF.

1. If you are bidding on expensive collectibles, you should be using escrow services. These are commonly offered by online auctions. An escrow service will hold your money until you are certain that the item you bought is genuine.

2. If you're going to pay with a money order or a check, use an escrow service. Otherwise, the seller could be gone with your money when you realize the goods are not what you expected.

3. Use a credit card. If the goods are unacceptable, you can challenge payment through the credit card company.

4. Ask the seller when delivery can be expected and if the merchandise can be covered by a warranty or exchanged if damaged.

5. Find out if shipping and delivery are included in the auction price or are there additional costs.

6. There should be no reason to give out your IC number or driving license number to the seller.

For those who are still new to E-auction, here is a piece of advice for you. Be cautious of buying from people selling high value items in bulk. You would have been tentative, thus you are encouraged to try single, low value items initially. Hope you do gain a worthy bargain! (=


By SueHui


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