Virtual auctions on the internet. E-auction is defined as the seller sells the product or service to the person who bids the highest price. For sellers, online auctions open up new sales channels for new products and offer buyers favorable purchasing conditions. Nowadays, virtual auction on internet. Online auctions have effectively created a giant virtual marketplace where people can gather to buy, sell, trade and check out the goods of the day. This is easily and conveniencely for both sellers and buyers.
Nowadays, there have many website conducting the auction, but sometime the buyers cannot differenciate that whether the website is safe or not, this is the main concern for the buyers. So, the buyers must know how to prevent it. Beside that, they have some of the prevention methods for e-auction fraud; this can give information to the buyers in order to prevent these types of fraud.
The are three prevention methods for e-auction fraud that I want to discuss. It includes Escrow services, feedback forum and verification system etc.
1)Escrom services.
An escrow service is a licensed and regulated company that collects, holds, and sends a buyer's money to a seller according to instructions agreed on by both the buyer and seller. Typically, once the buyer receives and approves the item from the seller within an agreed time frame, the escrow service then sends the payment to the seller. The buyers send the payment to escrow service rather than send to seller,so that the buyers no need to concern about the fraudulent happen. Escrow is available for any purchase, but typically is used for purchases of $500 or more.
2)Feedback forum
This Feedback Forum is the place for all your questions and comments about Sapling information, including any technical problems with the main site or Forums.Beside that, it can help the buyers and sellers to build up their online trading reputations. It also provides the users with ability to comment on their experience with others.
3)Verification system
Verification is a way to confirm the identity and evaluate the condition of an item. Besides that, the third parties will also evaluate and identify an item through a variety of means.
4) Physical Inspection
If the sellers who provide the physical inspection, this can attract many people to buy the good for those sellers. Providing for a physical inspection that can eliminate many problems. This is especially true for collectors’ item. When the seller and buyer are in the same vicinity, it is easy to arrange for such inspections. EBay also got provide this type of service and offers inspection services on the regional basic, so buyer can arrange for nearby inspection.
In the conclusion, people must become smart buyers not only for the e-auction, but also in the life, so that can prevent for anything happen such as e-auction fraud.
Nowadays, there have many website conducting the auction, but sometime the buyers cannot differenciate that whether the website is safe or not, this is the main concern for the buyers. So, the buyers must know how to prevent it. Beside that, they have some of the prevention methods for e-auction fraud; this can give information to the buyers in order to prevent these types of fraud.
The are three prevention methods for e-auction fraud that I want to discuss. It includes Escrow services, feedback forum and verification system etc.
1)Escrom services.
An escrow service is a licensed and regulated company that collects, holds, and sends a buyer's money to a seller according to instructions agreed on by both the buyer and seller. Typically, once the buyer receives and approves the item from the seller within an agreed time frame, the escrow service then sends the payment to the seller. The buyers send the payment to escrow service rather than send to seller,so that the buyers no need to concern about the fraudulent happen. Escrow is available for any purchase, but typically is used for purchases of $500 or more.
2)Feedback forum
This Feedback Forum is the place for all your questions and comments about Sapling information, including any technical problems with the main site or Forums.Beside that, it can help the buyers and sellers to build up their online trading reputations. It also provides the users with ability to comment on their experience with others.
3)Verification system
Verification is a way to confirm the identity and evaluate the condition of an item. Besides that, the third parties will also evaluate and identify an item through a variety of means.
4) Physical Inspection
If the sellers who provide the physical inspection, this can attract many people to buy the good for those sellers. Providing for a physical inspection that can eliminate many problems. This is especially true for collectors’ item. When the seller and buyer are in the same vicinity, it is easy to arrange for such inspections. EBay also got provide this type of service and offers inspection services on the regional basic, so buyer can arrange for nearby inspection.
In the conclusion, people must become smart buyers not only for the e-auction, but also in the life, so that can prevent for anything happen such as e-auction fraud.
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