Continued from page 1
4) Use an Escrow Service
For higher priced items you should consider an escrow service. An escrow service acts as a middleman between buyer and seller to ensure a fair transaction.
The escrow service holds item and money until buyer has inspected and approved goods. Only then does it release money to seller.
The only downside is that it will cost 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 goods or you have not received them, Ebay operates a fraud protection program. For more information go to : http://pages.ebay.com/help/community/fpp-guide.html
FlipShark has a useful site on internet auction scams. www.flipshark.com/scams/ebayindex.html
The US Federal Trade Commission has a useful guide for buyers and sellers on internet auctions which has relevance to other countries. www.ftc.gov/bcp/conline/pubs/online/auctions.htm
To sum up, most buyers and sellers on internet auction sites are honest. However, if you use above tips, you should not fall victim to auction fraud.
© 2003 John Lynch
Visit http://www.merchant-account-service.com/ebay.html for a FREE extensive auctions course on how to start a successful online auctions business. ==========================