Useful Online Auction Safety Tips for Buyers and Sellers

When hackers or online thieves gain access to one's password, they will take control of their account. They will not only use their account to make transactions but also steal their identity.

FREMONT, CA: Using online auctions to buy or sell merchandise is more common than ever. There are a variety of auction sites available today where sellers can list new and used items for sale.

Buyers often flock to these marketplaces, owing largely to the low auction rates. Furthermore, purchasing through online auctions is a perfect way to find one-of-a-kind pieces or collectibles that you simply cannot find in conventional retail stores.

The vast majority of transactions conducted by these websites go off without a hitch. However, problems do arise from time to time.

Unscrupulous buyers and sellers have tried to take advantage of other users on the auction platform in the past.

Here are some tips for one to avoid becoming a victim of scams:

When hackers or online thieves gain access to one's password, they will take control of their account. They will not only use their account to make transactions but also steal their identity.

Sellers can attempt to defraud buyers by failing to ship products after they have been paid for. Buyers, on the other hand, can take advantage of sellers by failing to pay for an item after the seller has already shipped it to them or claiming that they never received the item in order to obtain a refund.

Buyers and sellers may often use personal details shared during a transaction to steal one's identity. For example, if one pays for an item with a personal check, an unscrupulous seller can attempt to steal one's identity based on the information printed on their check.

Sellers can attempt to sell one a knockoff or replica rather than the actual item they want to buy.

Phishing scams can attempt to obtain one's personal information by impersonating the auction site or one's payment processor. In most cases, these scams are intended to obtain access to one's banking details or password in order for the perpetrators to steal their identity.