3 Ways to Avoid Online Auction Scams

As the internet trends continue to grow, more and more people are heading to online auctions to find the finest quality products at affordable rates.

Online auction sites offer a convenient platform to buy and sell just about anything, including jewelry, collectibles, equipment, gadgets, and other items from the comfort of your home.

With technological growth, the online auction industry has become more sophisticated over the past few years. Companies like BlindBid have come up with more refined bidding models to provide people with specific buying and selling solutions.

Using the platform, people with visual impairments can easily find buyers for their products, as well as acquire top-quality items at amazing rates.

While the benefits of these marketplaces are undeniable, the risks associated with them cannot be ignored. According to the National Consumers League, online auction complaints were the number one fraud complaints in 2005.

While it’s impossible to eliminate the risk completely, you can avoid certain issues to combat online auction fraud. Here are some strategies to avoid common pitfalls.

1.     Educate Yourself

Placing a bid without knowing the bidding process, the website’s terms and conditions, shipping conditions, etc. should always be avoided.

Make sure that you read the auction website’s terms of services, bidding rules, as well as guarantee and warranty specifications.

Once you understand the auction rules, start by placing a bid on an inexpensive item. If you are selling an item, put your less-costly item on sale first. This may reduce your risk while allowing you a chance to learn how auction works on the website.

2.     Find out about Buyers and Sellers

Rather than trusting anyone straight off, invest some time to find out more about the buyer or seller you are dealing with. If the person is an experienced trader, check out their feedback score to find out about others’ experiences with the user. Take extra precautionary steps when dealing with users having negative or no feedback.

3.     Check Market Prices before Bidding

Finding an item online doesn’t guarantee that you have the best deal. Using unethical practices, like shill bidding [bidding on one’s own auction], some sellers may trick you into paying higher than retail price. Bearing that in mind, you need to be aware of the retail price of the same or similar item you are bidding for. Check out online stores and classified ads to make your online bidding a better deal.

BlindBid has made online trading a breeze for visually impaired traders. They provide bidders with complete information about auction basics to help buyers and sellers make more informed decisions.

Using the blind auction platform, blind individuals and ones with visual impairments buy and sell just about anything online. In addition to offering a merchandise trading option, the site also offers micro job opportunities for blind people to find earning opportunities to earn extra income. Find out more by visiting them online.