I know this is a little late, I took a couple of days off from blogging. If you are an eBayer, you would probably have heard or read of this news but if you have yet to trade online or have been contemplating to trade online, this would probably scare you so much it will keep you away from online trading platforms forever.
A news report on 27th July, 2007 says that eight people have been held for various eBay scams totaling HK$5 million. It is said that most of the goods "transacted" were electronic products like mp3 players (reminds me of Skyhobby) and memory cards.
These Sellers have placed items on eBay on auction starting from low, attractive prices and some were at market prices, apparently to avoid suspicions. After payment has been made, the Buyer was not sent the item. While the amount is not large for each transaction, can you imagine the sum it will turn out to be when this is multiplied numerous times?
The last I read, Skyhobby netted over MYR400,000 using this trick.
I am amazed that the report says that eBay has a strong staff of 2000 people tracking trading irregularities in the marketplace. Yet, scams are still so rampant. Take extra precautions when trading online!
Read the full news report on The Standard.
A news report on 27th July, 2007 says that eight people have been held for various eBay scams totaling HK$5 million. It is said that most of the goods "transacted" were electronic products like mp3 players (reminds me of Skyhobby) and memory cards.
These Sellers have placed items on eBay on auction starting from low, attractive prices and some were at market prices, apparently to avoid suspicions. After payment has been made, the Buyer was not sent the item. While the amount is not large for each transaction, can you imagine the sum it will turn out to be when this is multiplied numerous times?
The last I read, Skyhobby netted over MYR400,000 using this trick.
I am amazed that the report says that eBay has a strong staff of 2000 people tracking trading irregularities in the marketplace. Yet, scams are still so rampant. Take extra precautions when trading online!
Read the full news report on The Standard.
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