Since they began in 1995, Internet auction sites have become one of the hottest phenomena on the Web, if not the most important.
And today, the popularity of these sites is growing faster than ever due to a new wave of sites that branded goods auction with great discounts; offering its members cheap electronics and other items for up to 80% to 90% off their regular retail price
In effect, these online auction sites allow members around the world to save significantly on name-brand merchandise (including collectibles, cheap electronics and much more) with a few simple clicks of your mouse.
But is joining one or more of these websites that auction off name-brand products right for you? Are there risks involved?
According to the Federal Trade Commission, auction fraud, where a seller takes your money and never delivers an item, can be a problem on sites that regularly auction off name-brand products.
Here are some additional auction fraud statistics:
- In a recent FBI study, online auctions ranked number one as a source of Internet fraud.
- The Internet Fraud Complaint Center (IFCC) has received 1,000 consumer complaints per week since it opened its doors.
- eBay says that one in 40,000 of its listings ends in a confirmed case of fraud.
- online auction Fraud accounts for 64% of all reported Internet fraud.
- Complaints against individual subjects, unlike complaints against companies, represent 84% of the total complaints received.
This is why if you decide to join an online auction site, you should be careful to select a reputable one that will keep its members; best interests in mind at all times.
For example, at a well-respected online auction site, www.ahmoze.com, members can instantly submit feedback to site officials, and most of the brand name products the site features in its online auctions come with guarantee.
Another factor you’ll want to consider before taking the plunge and joining an online auction site is what type of online auctions the site offers.
Online blind auctions, offered at www.ahmoze.com and various other sites, are considered by most experts to be the best approach to ensure members have the best auction experience possible. Why? Because in blind auctions, members never have to worry about competitors using automated bid monitoring tools, which are all too common on other sites.
Ultimately, whether you’re in the market for cheap electronics or another type of product, you’re sure to find exactly what you’re looking for at one of the many online sites that auction off name-brand products.
Most online auction transactions are easy and smooth. However, auction fraud can be a problem. You may find that the item you receive is not what the seller promised. However, you may never receive the item you won the bid on.
Fortunately, you can help prevent online auction fraud by doing some research and choosing to only join a reputable online site. In the end, the benefits of being able to buy name-brand products at deep discounts certainly outweigh the limited risks that exist.
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