Auction scams are fraudulent schemes where scammers deceive buyers or sellers through online or in-person auctions. These scams often involve fake listings, non-delivery of items, or manipulated bidding to inflate prices.

Example of a Scam

A buyer wins a bid for a luxury watch at a low price. The seller demands payment via wire transfer, but once paid, the item never arrives, and the seller vanishes.

How Can This Happen?

Scammers may list non-existent products at attractive prices on auction websites. They lure buyers into bidding wars, demand upfront payments, and then disappear without delivering the item. In some cases, fake buyers use stolen payment methods to cheat sellers.

How to Protect Yourself?

• Use reputable auction platforms with buyer protection policies.
• Verify seller ratings, reviews, and transaction history.
• Avoid deals that seem too good to be true.
• Never make payments outside the auction site’s secure system.