Online auction scams: Tips to avoid being swindled on bids for big-ticket items
You may see new popular ads for websites auctioning big-ticket items, like cars or boats, but the Better Business Bureau says you could win the bid for a price that seems almost too good to be true.
The BBB says people are paying the so-called auctioneer and they never get the product, plus the website now has all of your personal information.
Here are some tips for consumers to avoid being swindled on bids for big-ticket items:Research auctions and auctioneers before participating: Look for previous reviews, up-to-date contact information and make sure they have the appropriate licensing.Ask if you can trust the website, company, or auctioneer before you give any personal information.Know the terms and conditions: Winning an auction may not be as simple as paying the price you offered. Research whether there are entry fees, winning bidder fees, taxes, or shipping costs.Don't give in to bidder's excitement: Scammers will be counting on you to get wrapped up in the excitement and could even lead you into a fake bidding war to get more money out of you.
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