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Internet Auctions

Bidding

If you decide to enter the bidding, proceed with caution. Establish your top price and stick to it.
Don't bid on an item you don't intend to buy. Remember that if you're the highest bidder, you are obligated to follow through with the transaction. Auction companies often bar "non- paying bidders" — those who back out of a deal — from future bidding.
When bidding, take steps to protect your privacy. Don't give out personal identifying information like your Social Security number, driver's license number or bank account number. No seller should need it.
Save all your transaction information. Print or make note of the seller's identification, the item description and the time, date and price you bid on the item. Print and save a copy of every e- mail you send or receive from the auction company or the seller.

 

 

Table of Contents
________________________

How Auctions Work

Kinds of Auctions

Payment Options

If you're a buyer...

Consumer Concerns

Know the Seller

Know the Product

Know the Auction Site

Bidding

Wrapping up the Deal

Where to Turn for Help

If you're a seller...

Tips for Sellers

Your Legal Obligations

Advertising Options

The Art of the Deal

Who Can Help?

 

Source: Federal Trade Commission

 

 

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