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If you’ve got something valuable to sell, chances are that you’ll be looking online to sell it. The digital marketplace has brought about many benefits for buyers and sellers these days – most notably the convenience of connecting both parties regardless of location.
But for all the wonders of eCommerce and online buying and selling platforms, there are inherent dangers and threats that people need to be aware of. When you’re parting with a cherished possession or something valuable, you can’t risk losing it without receiving money in return.
In this article, we’ll explore the common dangers people come across when selling items online and what you can do to avoid them.
Advertising an item online can bring about a number of threats, scams and rogue traders. Bad people often scout certain advertising or marketplace sites looking for targets where they can either steal an item without paying or gain other details from you without your consent – whether it be bank details, your address or any other personal information. When you’re selling something worth a lot of money, the risk of losing the item without payment can be terrifying.
Sellers are urged to think responsibly when dealing with potential buyers and not agree to anything that would put themselves, their item or their livelihood in danger. But even risking these scenarios can be daunting for some people who perhaps aren’t experienced in online selling or using technology. For these people, there are ways to avoid the hassle and risk that comes with platforms like Facebook Marketplace and Gumtree.
If you’re looking to sell expensive items securely online then you should try to look for sites or platforms that come with seller protection policies. These will help to protect you from buyer scams and fraud, which are less common on established sites anyway.
For technology, furniture, bikes and other consumer items, sites like eBay and Vinted help to make the process as secure as possible for buyers and sellers alike. If you’re looking to sell valuable jewellery or watches, on the other hand, using a pawnbroking service can be a secure way to receive the money without having to deal with other members of the public.
If you have to use one of the previously mentioned marketplace sites that don’t offer buyer and seller protection then ensure that you are very careful. Always try to meet in person and in a safe or public location to see who you are actually dealing with – that way you can confirm their intentions and work out if they are a genuine buyer/seller or not. Don’t hand over any items or goods until you have confirmed receipt of the payment, otherwise, you could risk losing your item without the money in your account or cash in your hand. If you’re selling something worth more than a few hundred pounds, then it’s always recommended that you sell to a trusted company or through a trusted platform.
Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence