Online auctions are a great place to find a wide range of items for sale. From antiques to heavy construction equipment, buyers have access to great deals from auctioneers located across the globe. Unfortunately, some online auction platforms present buyers with the risk of being taken advantage of by dishonest sellers.
One of the biggest concerns buyers may have is that they don’t know the seller. If the seller is dishonest, or has engaged in fraudulent activities in the past, there is typically no way for the buyer to know. This puts the buyer in the position of having to research prospective sellers to determine whether or not they are reliable.
It’s also difficult for buyers to be certain whether the seller has accurately described the item for sale. Buyers must be confident they are getting all the information they need to make an educated purchasing decision. The item may be less valuable than described or have a defect not disclosed by the seller. The buyer needs accurate information to avoid overpaying for an item.
Buyers may also be worried about additional fees they weren’t made aware of prior to making their purchase, such as shipping costs or a buyer’s premium. Another area of concern for online bidders is that they may find themselves bidding against the seller. Without proper safeguards in place, this type of “shill bidding” is a common practice that can drive up the sale price far beyond what it would be if the seller was not secretly bidding on the item.
How Do I Know the Seller is Who They Say They Are?
The average buyer doesn’t have the time or the resources it takes to research sellers or items to ensure they can bid online with confidence. That’s a heavy due-diligence burden that should be taken care of by the online marketplace.
That’s why every seller in Proxibid’s Marketplace is vetted by our sophisticated risk management system. We conduct a thorough background check so buyers can rest assured the seller is who they say they are, and the seller is not engaging in any fraudulent activities.
Sellers must also agree to strict terms and conditions before listing their item in the Proxibid marketplace. Those terms and conditions require each seller to uphold the values and best practices that Proxibid is known for.
Proxibid provides buyers with extra reassurance with a badging system to identify top sellers in the Marketplace, as well as a rating system to give buyers additional visibility into how each seller is performing.
Proxibid’s badging system includes several rating markers such as buyer’s premiums, the number of images included in a listing, the quality of the item description, the quality and speed of shipping, and the caliber of customer support provided to buyers. Only sellers who meet and exceed industry standards receive badges.
Our five-star rating system is completely controlled by buyers. This is a familiar system that enables buyers to rate their transaction with each seller. Additionally, buyers can provide feedback to the seller about each transaction. This feedback is posted online so potential buyers can get a better sense of the seller’s reputation.
The Transparency Promise at Proxibid
At Proxibid, we know it is easy for buyers to find themselves at a disadvantage when buying online. That’s why we do everything we can to relieve the burden on the buyer by making sure that each transaction is as transparent as possible.
Whether it is the background checks that we conduct, or the badging and rating systems, buyers can feel comfortable that they have all the information they need to bid with confidence. It is this level of transparency throughout the Proxibid Marketplace that keeps buyers safe during the bidding and purchasing process.