I’m new to Ebay, What Scams Are Out There?

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I’m new to Ebay, What Scams Are Out There? - By: puneet, Posted on: 2008-04-13

I have been looking at the possibility of doing some Ebay trading. And, since I have been on the Internet for a while, I decided that I should see what Ebay scams, if any, was floating about. Why? It is always good to be aware of the good, the bad, and the ugly of any online venture. And since, I’ve seen all sides – it’s wise to have cautious optimism.

Wholesale List Scam

With this scam, the wholesaler gives you a photo of say, a computer monitor or DVD – the buyer is under the assumption that they are buying a monitor or DVD, right? Wrong? You may only be buying a wholesale list. This is what they call a “bait and switch”. They are hoping that the individual is in a hurry or cannot read English well, and they blindly buy. Rule of thumb: read everything before buying.

Note: Wholesale List scams are very common for monitors, laptops, camcorders, DVD players, flat screen televisions and mp3 players; cutting-edge electronic devices.

Fake Money Order

The buyer sends the seller a fake money order, a bad check – and the seller sends the item before the money order or check has been successfully cashed. Seller is out the item and the money.

Credit Card Chargeback’s

The buyer pays with a credit card through PayPal. Once the buyer has received the item, the buyer initiates a chargeback. This is where the novice comes in, if you do not have proof that the item was sent – you are out the money, the item, and you have to pay a chargeback fee. Rule of thumb: Send your item through UPS, or certified mail to protect yourself.

Fake Escrow Scam

The scammer says that they want to buy your item, but they want to use an escrow service. The purpose of the escrow service is to add a layer of protection for the buyer. They will hold on to the money, and once the buyer has received the item from the seller, the escrow service will release the money to the seller. This is where the scam comes in – The buyer will request that you use the escrow service that they, so they say, have used with other transactions. The escrow service is a front – set up by the buyer.

Email Ebay Scam
The email Ebay scam – is an email that says it has come from Ebay. The email will state that it looks like your account has been compromised and they would like you to verify the information, for your protection, of course. Never click the link. Open a new Internet session and manually type the information to get into your account.

Other email scams, include the fake payment received email. You will receive a payment-received notice, that looks authentic, but be aware, it could have been sent by the buyer. Never send anything, until you have verified that the payment has been received and the info received is valid.

To conclude, when you are looking at any new venture, it is always good to do the research and be aware of what you may be up against. It hard enough to start any business – and you definitely don’t want anyone running off with your hard earned money. Being aware – can keep your business moving forward.

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