Friday, July 11, 2014

New Dishonest Tactics By Ebay Auction Power Sellers - Beware

You Can No Longer Bid On Ebay With Confidence

Over the years I have bid on silver bullion auctions on Ebay. In the past, I have made a decent profit from buying and then selling silver on Ebay.

Most recently however, things have changed on Ebay dealing with precious metals. Many sellers are using some very dishonest tactics.

They will list, in my case, silver bullion with no reserve.  Of course that means that there is no bottom end price and a person could win the auction for any amount at the starting price or above.

In the last three days, I have had three different sellers have such auctions and I have bid on them.  Some have been pretty healthy bids up into the hundreds and thousands of dollars.  My bids are always under silver spot prices for the moment, simply because my hope is to make a profit. Sometimes I will go a tad over.

Now these three sellers will leave the auction running until the last few minutes and if they don't get what they deem to be enough in bids, the cancel the auction and you get a notice from Ebay saying the auction has been cancelled.  Talk about unfair and doing away with the whole concept of auctions!

I have contacted two of these Ebay Power Sellers and they always do have an excuse, a date was wrong, or they double listed the item, etc.  Unacceptable. These are "power sellers" that have sold thousands of times on Ebay.

I have checked the three cancelled auctions and have found the exact same item up and running.....re listed for another try.

What this is doing is creating a situation that is driving folks away from Ebay in droves.  Many are looking at alternatives, such as myself.  As I learn of more options and alternatives to Ebay, I will be writing some reviews here on the blog about them.

Photo Credits: Flickr Creative Commons