the first bidder backs out and cancels their bid, leaving the $5 bidder the winner, effectively shielding all other potential bidders because of the $200 bid.
Because of the potential for this it is always good to have a reserve on your auction. Also, I would put some sort of disclaimer on your auction stating that if you suspect bid shielding on your auction, you reserve the right to back out of the sale. It’s always a good idea to keep an eye on your auctions and watch for this type of behavior. If you suspect this is happening to you, be sure to report the parties involved to eBay right away.
Wholesale List - This takes advantage of the fact that many people don’t pay close attention or read the fine print on an auction. This is targeted at buyers who are looking for deals on electronics and technological items on eBay. The wholesale list is basically an auction that looks like the seller is offering a great deal on a product like an iPod for example. They may have a buy now price of $40 for an iPod that is worth $150. However, if you actually read the fine print on the auction, you will find that you are not really buying the iPod. In fact you are purchasing a wholesale list.
To avoid this scam, just be sure that you read the entire details of the auction before making a bid or a purchase. Basically, just use common sense. If it looks too good to be true, it probably is, so read the auction carefully.
Bad Check - This eBay is exactly what it sounds like. The bad check is simple. Someone purchases your item and sends you a check as payment. You receive the check, and send out the item. However, 2 weeks later you find out the check bounces and now you are out your item and the money.
To avoid this, simply do not send out any products until the check has cleared.
Spoof eBay Emails - This eBay is an attempt to get your personal information and/or eBay account information. Basically the scammer sends you an email that looks like it’s from eBay. The email may direct you to a website (that also looks like eBay) where it asks to you verify your information. In reality, the website is created by the scammer to collect your personal information and use it for identity theft. The scammers can be very tricky and make everything look very official.
To avoid this scam, you need to be wary of any emails that you get. The first thing you need to check is the email header. Emails from eBay, will have “@eBay.com” as the last part of the senders email. Also any links that are in the email may be directing you somewhere other than where they say they are. Also copy and paste the links into your browser, and only visit official links that start with “www.eBay.com”. If anything seems suspicious to you, forward the email to eBay and wait for their response. They will let you know if it’s legitimate or not.
In conclusion, most people you run into on eBay are good honest people and not out to you. You may do business on eBay for years and never run into any of this. However, occasionally these things do happen so it’s important to use common sense and use your best judgment when it comes to this stuff. Just be aware that it can happen, and take the necessary precautions and you will be fine. There’s a lot of money to be made on eBay, so don’t let anything scare you off. Keep yourself armed with knowledge and information and you will be successful out there in the auction world!
This article was written on behalf of eBayBusiness.net by Webmaster and Internet Marketer Jason Cooper. Visit http://www.ebaybusiness.net today and get started on the road to eBay Business Success. Download 3 Free eBay Business Success Reports at http://www.ebaybusiness.net/free-reports.html and skyrocket your eBay business profits. This article may be published on your website or ezine as long as this tagline remains unchanged.
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