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The risks of online auction and Use online auctions safely - Enjoybid

The risks of online auction and Use online auctions safely

Online auction sites are a very popular way to buy and sell new and used goods. However, there are also risks associated with using auction sites – some of which are different from normal online shopping. Therefore, you need to pay attention to what you buy, from whom, to whom you sell, and how you pay for your purchase or get paid for the items you sell.

The risks

  • Fake shops – fake websites and emails offering goods and services that do not exist.
  • Received goods not as described by the advertiser.
  • The goods you paid for have not been received.
  • No payment has been received for the goods you sent.
  • Being persuaded to sell at an early or low price. The best bids usually come at the end of the auction period.
  • Your auction identity was stolen and used illegally.
  • Your personal/financial information has been stolen and fraudulently used.
  • Phishing emails, which appear to be from auction or online payment sites, but are actually from criminals trying to lure you to a fake site in order to obtain your personal information such as login details for online payment accounts.

Use online auctions safely

If you’re new to online auctions, take some time to read the online guides provided by auction companies so you can understand how the system works and what the rules are.

Know what the auction house can (and won’t) do if something goes wrong.

Use a different auction site login than your email address.

Keep your contact information up to date, including your email address.

Research the seller or buyer — whether it’s an individual or an online store. Look at their profiles, their ratings, their trading history. New sellers and buyers may not have a well-rounded history, so be cautious.

If the seller is a business, check if they exist in the real world. If they provide a phone number or address, give them a call. Sellers outside the UK can be harder to track if things go wrong.

Check online stores’ privacy and return policies.
Clearly state shipping and distribution costs (for example, whether they are included, and if not, whether they are clearly stated).

Be clear about payment methods and whether they will incur surcharges.
Provide sellers and buyers with only the minimum necessary personal information, such as your address, to collect or send.

Please check all the details of your purchase carefully before confirming payment.
Check your spam folder regularly to make sure that communication notifications between you and your buyers or sellers are not blocked by spam filters.
Don’t fall for calls to close the auction early.

Make sure you have received payment before shipping.
When making a payment to a company or individual, never transfer the money directly to their bank account, but instead use a secure payment site such as PayPal, where money can be transferred between two electronic accounts.

On sites like Facebook Marketplace, other social media buying and selling platforms, and forums, you may encounter payment requests that are not guaranteed to be secure, which means you may lose money:

When making a payment to a company or individual, never transfer the money directly to their bank account, but instead use a secure payment site such as PayPal, where money can be transferred between two electronic accounts.

Keep in mind that if the seller asks PayPal friends and family to pay, this will allow them to avoid PayPal fees, but will deny PayPal any payment protection it may offer.

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