It’s no secret that the Internet is the biggest garage sale that has ever existed, and increasing in size every day.
eBay Craigslist, uBid, eBid, ePier, the list goes on and on. Each one an enormous pile of items placed on the front of someone who has a lot of things in their garage or the basement, and wants to clear the entire pile with each item clearly labeled, “for highest bidder,” or “best offer.”
A lot of items are simply that garage sale items and if you are the one to win the auction for $11.53 (including delivery) but then find out that you’ve been duped, it’s a shame to lose $11.53 and with some emotional pain. It’s not an end-of-the-world scenario and you’ll be better off for it.
However, there are auctions and online listings for items that are worth more than used CDs and trinkets such as antiques, cars, jewelry and collectibles that cost up to millions of dollars. Fraud and scams on the market can take on an even more sinister form and can cause havoc to lives.
The general population-and God be blessed by them all-are trusting souls. They have good hearts and seek to believe in the good of other people. The goodness of this person, though an asset, is seen as weakness by those who want seeking to make money by sinning against faith.
The fraudsters and scammers are able to succeed a lot of the time. There’s not a day without you seeing an article of someone who has lost $5,000 on a vehicle that never came, or the purchase of $12,500 on a rare item that was later discovered to be fake or, in the opposite case the other day, someone sent $8,000 worth of jewelry but the payment didn’t show up or the promised cashier’s cheque turned out to be personal and it bounced.
The great thing about the typical, noisy, and grassy garage sale is the fact that you are able to look at whom you’re dealing You can determine a lot of things from an appearance, a person’s face and even from the voice. Is he or is trustworthy or not? You can also examine, touch and assess the quality of the item you’re purchasing. Also, you’re able to bargain with confidence. In other words, things are legal, so they say.
It’s not so on the internet. You’re not sure who you’re dealing. They (and it’s impossible to tell who one, is it?) may show a 100% buyer satisfaction status (all perhaps variously-and underhandedly-generated by him- or herself), but you don’t know for sure whether this person is trustworthy or not. There’s no way to tell.
Is there a problem?
The Litmus Test
With nothing to hide The honest and honorable person will never be averse to doing business above board.
In the case of Internet Commerce, or Online Auctions aboveboard refers to the one word: Online Escrow.
The underlying principle and procedure for Online Escrow parallels buying and selling real estate. As you are aware, escrow firms are considered essential because of the large amounts involved.
* Buyer or Seller will open an account through an account with Online Escrow;
When the price is set The buyer makes payment to the escrow company normally by credit card, however wire transfer or check is also possible;
*The Online Escrow verifies arrival of funds, or authenticates the credit cards that was used
After confirming that the payments are secure Online Escrow informs Seller and solicits Seller to deliver the item to Buyer;
* Seller delivers products and provides tracking information to both the Buyer and the an escrow company.
Once the shipper’s tracking site displays the item as delivered The Online Escrow verifies with Buyer that the item(s) were delivered in good condition.
Once the item is received the Buyer is given a specified time frame to either accept or reject the product or, if not completely satisfied Return it to the seller;
After Buyer has accepted the purchase The buyer then notifies the Online Escrow, which then lets the payment go to Seller, less any processing charges and commissions.