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4. (20 mins ago)DirecTVMisinformation leading to outrageous bill 5. (24 mins ago)Nomorerack.comJust a word of caution when shopping here Consumer Tips & Tricks
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Avoid Online Auction Scams | |
 The Federal Trade Commission recently posted a guide to the ins and outs of online auctions--and how to avoid getting scammed--at www.OnGuardOnline.gov.
You'll find the basics on how online auctions work, what buyers and sellers should know before they participate, and laws regarding auction transactions. The FTC also offers tips on how to avoid fraud and what to do if you become a victim of it. "AuctionAction," an interactive game, tests your knowledge of auction rules and potential pitfalls. It also links you to FTC advice on related topics, such as online shopping, and to the Better Business Bureau's online complaint page.
Among the tips the FTC recommends:
- Read the auction's Terms of Use. Auctions may charge fees and offer varying levels of protection. Some, for example, offer free insurance or a guarantee if an item isn't delivered, isn't authentic, or otherwise is not what the seller claimed.
- Don't pay with cash and don't wire money. Better options include paying by credit card or by an online payment service.
- Know what you're bidding on. Print out the description of the item and read it carefully, especially the fine print. Save all e-mails and other correspondence from the site and the seller.
- Don't be lured off the site. The FTC reports that some con artists lure bidders away from auction sites by offering a lower price for the same item. They take the buyer's money, but don't deliver the item. By going off the site, buyers also lose the auction site's protections, such as guarantees.
According to the FTC, it received 80,450 complaints last year regarding online auctions, second only to identity theft. Most concerned late shipment or non-shipment and products that weren't of the quality advertised. Other complaints included bogus online payment or escrow services and fraudulent dealers who lured consumers from legitimate sites with the promise of better prices. Most complaints were directed at sellers, though some concerned buyers, too.
The FTC launched this site late last year. "We want to provide actionable information for people to have a better Internet experience not marred by a scam, fraud, or hacker attack," says Nat Wood, FTC assistant director for consumer and business education. |
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Great info.
Perhaps I can just add to this that the best way to guard against being ripped off by online sales or auctions of any kind, Craigslist and eBay included—and whether seller or buyer—is to use a *bona fide* online escrow company. Especially for pricier items like antiques, jewelry and autos. Although it does add some cost, it takes the uncertainty out of the transaction, and that’s a small price to pay for peace of mind.
For my money, the best bona fide online escrow (and there seems to be ten fraudulent escrow sites for every bona fide one) is probably Escrow.com (http://escrow.com). In fact, it’s the only one that eBay recommends, and is the only online escrow company that is licensed to provide escrow services all across the United States.
Take care,
Ulf Wolf |
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22nd of Sep, 2010 by 
