Herman's tale of eBay/Paypal buyer fraud is unusual because he not only met the scammer in person, he placed his item right in the guy's hands. Here's what happened:
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money meltdown
Joanne Smith from Chicago now owns an abandoned home in Saginaw, Michigan, and
she only paid $1.75 for it on eBay. Well, there's also $850 in "back taxes and yard cleanup cost," reports MSNBC. Smith says she hasn't seen the house yet or visited the town, but we're thinking hello summer home! Or maybe it's a good place to put the parents when they retire.
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eBay
Pat
won an auction for an RV on eBay last week. He bid a little over $15,000 for a vehicle that was listed for sale by the RV company for $29,999 on other sites. Pat was worried that Nelson's RV might try to find a loophole to cancel the auction since he'd scored such a great deal, so he immediately sent his required $250 deposit to them and asked for someone at Nelson's RV to contact him. Eventually, after some run around, he got the following email—with one of the ballsiest excuses we've ever seen.
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ebay
That headline is the good news. The bad news is the $61 million in damages ordered by a French court isn't meant for regular shoppers who have been defrauded when shopping on eBay. Instead, it's been awarded to LVMH Moët Hennessy Louis Vuitton, the French luxury goods company behind Louis Vuitton purses (among other fancy things, as you can see from their name). LVMH argued that
"90 percent of the Louis Vuitton bags and Dior perfumes sold on eBay are fakes," and that eBay profited off the sales without doing enough to stop them. EBay can appeal the decision, or simply click the "Pay It Now!" button.
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follow up
Timothy, our hapless eBay seller who kept having
problems listing his laptop on the auction site, was contacted by a Real Live Human from eBay the day after we posted his story. "Garrison" apologized for the frustration, and said he'd be making a note on Timothy's account to keep it from getting shut down by other agents. He also suggested several listing options that were pretty well-covered by our commenters in the original thread.
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Nigerian scammers
The cool thing about eBay's support system is it will always answer your question; unfortunately, that answer will always be a form letter on how to reset your password, as Timothy discovered when he tried to figure out how to sell his laptop to someone who wasn't a Nigerian scammer. Timothy has learned the awful truth behind today's eBay—something many readers here already know—which is that it's become virtually impossible to sell any sort of medium-to-high end electronics there anymore.
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auctions
USAToday says the eBay boycott over fee and policy changes has driven listings down as much as 13%:
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homes
If you're ready to buy a home and don't mind a little ghoulish bargain-hunting, now is a
great time to hit the various foreclosure sites online, reports Reuters. "Large real estate sites such as PropertyShark.com and RealtyTrac.com showcase a growing number of U.S. properties in pre-foreclosure and foreclosure."
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auctions
EBay doesn't share data on bidders' maximum bid amounts, so it's always been difficult to quantify whether or not buyers are actually saving money, but a new study has attempted to put hard numbers behind the transactions. The study's authors use data from bidders who used a specific sniping agent—by measuring what those bidders were willing to pay versus actual winning amounts, they've determined that
the average winning bid comes in about 30% lower than the maximum amount the buyer was willing to spend.
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