Internet-Online Auctions and SellersMany private sellers sell items on the Internet through auctions, classified ads, newsgroups, and chat rooms. Unfortunately, these types of sales are a very common type of Internet fraud.
Resolving disputes can be difficult when the seller is in a different part of the country.
Be aware that government agencies may not be able to help you since many laws don't apply to sales between individuals. Follow this advice as well as the general tips on shopping from home.
Know your seller. If you don't, do some research.
***Check with state and/or local consumer offices.
***Company websites often provide information in a section called "About Us." Some online sellers participate in programs such as BBBOnLine that help resolve problems. Look for a logo or endorsement seal on the company website. This is an indication, but not a guarantee, of the seller's reliability.
***Another way to check online sellers is to look for other consumers' comments. Visit http://www.bizrate.com/ where consumers rate online stores. Some Internet auction sites post ratings of sellers based on comments by buyers. This information may give you some idea of how you'll be treated, but beware of too many glowing stories that might have been placed by sellers themselves.
Protect your personal information. Use a secure website to help protect your credit card from misuse.
***Never send your credit card number by e-mail because e-mails are not secure. If you are not comfortable providing your credit card number online, ask whether you can call or fax it.
***Check how the auction works. Can you cancel a bid? Don't assume that the rules used by one auction site apply to another. Some sites offer step-by-step instructions that will take you through the bidding process.
***Find out what protections you have. Does the site provide free insurance or guarantees for items that are not delivered or not as described?
***Follow the strategies used in any auction. Learn the value of the item you are bidding on. Establish your top price and stick to it.
***Don't bid on an item you don't intend to buy. If you're the highest bidder, you have bought it. Auction companies often bar those who back out of a deal from future bidding.
***If the seller can't accept payment by credit card, use an escrow service. Your money is held by a third-party until you get your purchase and approve release of your payment to the seller. There is a small fee, but the peace of mind is worth it. Auction company eBay recommends Escrow.com, which is backed by Fidelity National Financial Corporation.
***Be wary of sellers who insist you use a specific escrow service, especially if you have never heard of that particular service before. Check out the escrow service just like you check out sellers of other services. If a company's website has grammar and other simple mistakes, be wary. You might not be dealing with a legitimate company.
For more information about shopping online, visit http://www.ftc.gov/bcp/conline/pubs/online/payments.htm and http://www.safeshopping.org/.
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