Investing in Collectibles
Okay so you've done your homework, and you're ready to buy and sell. Well, when you sell, particularly on an online auction, let me say that your honesty and candor will be rewarded. There are many people tempted by the quick buck, and it can be tempting to deceive your potential customers...even by not disclosing if an item needs cleaning. Let me tell you that you will ruin your chance of future sales if you deceive people about your item's condition or status. People will flame you, post negative feedback, report you to consumer watchdogs and more...as well they should, and as you should do if you get ripped-off. So always be pleasant, answer questions to the best of your ability, post pictures of your item and if you don't know the answer to a question, say so. That person may not bid, but someone else probably will, and you won't have tarnished your reputation. Remember, just because you will probably never meet the person, it doesn't mean you shouldn't adhere to the highest customer service standards.
On the flipside, when you are buying through online auctions, it is buyer beware. Ask questions, if there is no photo available ask for one, or move on if the item requires it. Look at the feedback other customers have posted. Look at the seller's other auctions, do they have a lot of the same thing? Are they posting "scam-like" or "get rich quick" ads? If so, be warned and decide if you can find the item elsewhere or through another auction. It is easy to become jaded thinking of all of these things, but remember too that most auctions are posted by regular people like you and me who are either trying to clear out their closets in the middle of winter, who have a genuine interest in the items they are selling. Buyer beware, but don't be cynical!
If you do get scammed, notify the auction site as well as local law enforcement officials in the seller's jurisdiction. You may also want to alert:
Federal Trade Commission (877) 382-4357 or write FTC, Consumer Response Center, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580
National Fraud Information Center
Write NFIC, PO Box 65868,
Washington, D.C. 20035
United States Postal Inspection Service
(800) 372-8347
Your state attorney general So, finally should you invest in collectibles? Sure, if you like what you're collecting. Can you expect a better
Latest Articles