Apply Tullock to this! Ebay is a great way to understand Tullock

ADVICE FROM EBAY
How do I protect myself from fraud before I bid?

Before bidding on an auction you may want to ask yourself the following questions and consider the answers.

1. Does this person have any feedback?
If he has lots of positives you can be sure he is a legitimate seller and won’t simply take your money. However be sure to check his negatives too to see what kind of person you are dealing with. Note: In this case you’ll want to be looking for feedback as a result of selling an item. Positive feedback for a purchase doesn’t help to determine if this guy can be trusted as a seller. NOTE: One small thing – with takeovers, the feedback tends to look really good (they like to take over accounts with good feedback) but a careful look will give clues – a Roseville collector suddenly selling laptops, not responding to email, or with strange responses, and those offers to sell outside of eBay.

2. How long is the auction posted?
We have found that those wishing to commit fraud will list items for a short amount of time, often only 1-3 days. This allows him to get his money as soon as possible and reduces his chances for exposure. If this is a short auction it may warrant a bit more scrutiny.

3. Are there no pictures or is the picture stolen from another auction?
Those unscrupulous individuals intent on committing fraud never take their own pictures of items because SUPRISE they don’t have any items for sale in the first place! That’s not to say that having no pictures is necessarily bad. Just check the seller out a little more closely before you bid. Comparing the auction to the other items on this list is a good way to do that.

4. Is the item described well?
Make sure that the item has an actual description. Does he say how much use the item has had? Does his description match his picture? A description that basically states that it’s great is no description at all. Opinions on the TYPE of item are useless unless they are coupled with an accurate description of the item actually being auctioned.

5. Is the price too good to be true? Does this seller have a large number of items with prices that are well below their normal selling prices?
When a person falsely lists an item for sale he doesn’t really care if he gets full price because, again he isn’t really selling anything. Low prices don’t always mean fraud but drastically low prices warrant a closer look before you bid. Ask the seller about the item in a case like this. The more difficult and technical the question the better. If you don’t get a reply it would be wise to pass on this auction.

6. Is the seller offering unreasonable or unusual features?
Lets face it, the sellers on eBay are generally not just here for the fun of it. They are good people trying to make a living or at the very least enjoying a hobby. Nobody is here to lose money. So when folks offer things like 10 day inspection periods and totally free shipping it warrants a closer look.

7. Can and does this seller answer questions in a timely, courteous and technically proficient manner?
Asking questions about the condition, finish and functionality is one of the best ways to screen the good sellers from the bad. Most sellers wishing to commit fraud won’t bother answering and in that case it may be best to move on. Asking for a serial number (if the item is supposed to have one) is another good way to verify the item is for real. Again the more difficult and technical your questions the better, make sure this seller knows what he is selling.

How do I protect myself from fraud if I have already won an auction? There a number of things to keep in mind before sending your money to a seller that has little or no feedback for selling.
How does the auction hold up against these 7 questions?

1. Does he have feedback for selling? (does he have negative feedback for deadbeat bidding)
2. Was the auction posted for only a few days?
3. Were there pictures?
4. Is there a detailed description of the item?
5. Was the price way too good to be true?
6. Is the seller offering unusual percs like a “10 day inspection period”?
7. Has this seller answered questions about the item in an acceptable manner? Make sure and get a valid phone number for the seller. If he gives you a fake one contact us immediately and we’ll look into it. You are not required to complete any sale in which the seller or an
employee of the seller does not make himself available for a phone conversation.

Verify the seller’s name and address. If you get a bad feeling about an auction contact us and we can check the name the seller wishes to have the check written out to, against the name on his Auction account.