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Internet Auctions

Know the Product

When considering whether to place a bid, know exactly what you're buying. Read the seller's description of the item or service, and if a photograph is posted, take time to look at it closely.
Try to determine the relative value of an item before you bid. There's no guarantee that something is a good deal just because it's on the Internet auction block. "Brick-and-mortar" stores and online price-trading sites may be good reality checks on price. If you find a bargain at an auction site, remember the adage about deals that seem too good to be true. They usually are.
Read the fine print. Look for words like "refurbished," "close-out," "discontinued" or "off- brand," especially when shopping for computer gear or electronic equipment.
Consider whether the item comes with a warranty, and where you'll get follow-up service if you need it. Many sellers don't have the expertise or facilities to provide services for the goods they sell. If that's the case with your seller, be sure you're willing to forfeit that protection before placing a bid.

 

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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