Internet auctions are becoming more common and more accessible. An online auction can offer a variety of items such as cars, motorhomes, boats, designer goods and other high-priced items. The prospective purchaser registers to bid, which may include sending the auctioneer a copy of a driver’s license, along with other sensitive personal information before the consumer is able to place a bid on an item.
Just like with all online scams, scammers are lurking behind the bid sheet. In this scam, the bidder will win the auction for a price that seems too good to be true. Sometimes, scammers may also try to force consumers into a bidding war, counting on them getting wrapped up in the thrill of bidding. Scammers could be using fake profiles to bid and push the price higher.
After the auction, the auctioneer provides instructions on how to transfer the funds, but once the bill is paid, the auctioneer disappears and becomes impossible to contact. Oh, and the item “won” never arrives.
Use BBB’s tips to avoid this scam:
• Research auctions and auctioneers before participating. If you’re looking at a private auction or an auction run by a private company, investigate the auctioneer ahead of time. Look carefully at reviews from previous buyers. Does the auctioneer have a good reputation? Do they have the appropriate licensing to conduct the auction? If the answers are no, or there is no information available about the auctioneer, it may be best not to participate.
• Get to…
