There are many eBay scams out there to keep an eye out for when you are selling on eBay.

(I-Newswire) November 6, 2009 - There are many eBay scams out there to keep an eye out for when you are selling on eBay. This article will cover a few of the known and not so known scams to be aware of. Whether you’re a causal seller, or a professional seller on eBay, you need to know about these scams so that you can take measures to prevent or recognize if it’s happening to you.

Bid Shielding
This scam is something you need to watch out for as a seller on eBay. Basically the scam is run using two separate eBay accounts. The scam works like this. You put your item up for auction. Let’s say your item is worth $100 and you have no reserve. The first bidder (scammer) comes along and bids $5 on your item. Right after that, another bidder working with the first bidder comes along and bids $200 on your item. Since your item is only worth $100, you receive no more bids for the duration of your auction. Right before your auction ends, the first bidder backs out and cancels their bid, leaving the $5 bidder the winner, effectively shielding all other potential bidders because of the $200 bid.

Because of the potential for this scam it is always good to have a reserve on your auction. Also, I would put some sort of disclaimer on your auction stating that if you suspect bid shielding on your auction, you reserve the right to back out of the sale. It’s always a good idea to keep an eye on your auctions and watch for this type of behavior. If you suspect this is happening to you, be sure to report the parties involved to eBay right away.

Wholesale List Scam
This scam takes advantage of the fact that many people don’t pay close attention or read the fine print on an auction. This scam is targeted at buyers who are looking for deals on electronics and technological items on eBay. The wholesale list scam is basically an auction that looks like the seller is offering a great deal on a product like an iPod for example. They may have a buy now price of $40 for an iPod that is worth $150. However, if you actually read the fine print on the auction, you will find that you are not really buying the iPod.

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