Buyers should always be on the look out for shill bidders. Shill bidding is when a seller bids on his or her own auction to increase the amount of the bids. Often times this is done to increase the amount to be received from the auction. The seller could make another account and bid on their own auction or have someone they know do it for them. Ebay auctions generally have three different options that the seller can set the auction for the item up at. Those being buy it now with best offer, a regular auction were the highest bidder wins, or an auction with reserve. If the auction does not reach the reserve amount, the seller can keep the item or relist it. Also, sellers should look out for buyers with low feedback. Often times when the bid of an auction gets extremely high and the buyer has low/ zero feedback sellers should get ready to relist the item. More than likely the buyer will flake and not pay. So that is why I always use auctions with only the buy it now option that requires immediate payment via paypal. That way I won't have to worry about the buyer flaking and me having to relist the item.
-Dorian
6 comments:
We should definitely be aware of the dangers of internet auctions like buyer flaking. I can easily envision people being taken advantage of through internet auctions considering there is no real face-to-face accountability. Are there any tips out there to ensure protection in case you happen to be on the wrong end of a deal?
I have a experience that seller use other account to increase price for products. After I tried to buy a lot of times, I dont believe them anymore. They start very low price to attract people to bid. However, it is not a real price that I will get.
There are many potential risks that you are putting yourself into when selling or buying online, especially on Ebay. I have been using this site for a little over three years, and have personal experience dealing with untrustworthy buyers/sellers. The bottom line is, do your research prior to listing or buying an item to figure out its actual value, and keep an eye out for suspicious buyers/sellers by looking at their recent feedbacks on their public account overview.
William if you happen to be on the wrong end of he deal, try to get in contact with the seller as quick as possible. Ebay usually gives the seller a few days to respond. If not, contact paypal and they will help you get you money back via a claim. If you are the seller, wait until the money clears before you ship. Also, always provide tracking information and insurance if the buyer wants it on the item.
I have had this happen to me several times and it is a pain because you have a sold item in limbo. First, you are excited that the item sold. Then you wait may be a day or two to receive the payment. Then you contact the person hoping to get a reply that will never come. Then you have to take the matter up in the Resolution Center which that takes can take several days. I will definitely take your advice and only use the Buy-it-Now listing. Do you have anymore advice, Dorian?
Ebay is also auctioning for a good cause. They host charity auctions such as the Grammy's Foundation & Musicares. Artist such as Mumford and Sons, Justin Timberlake, Kelly Clarkson, and Aerosmith, put signed instruments or albums to be auctioned. The money goes to education programs of the impact of music on American culture.
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