Service Stops Auction Fraud

[Anti_Fraud]

Hi all,

ReliaBid.com is a service that prevents buyer fraud in auctions. For us sellers, non-paying bidders and unpaid items can be really harmful to our cash-flows. ReliaBid offers a seal program to deter non-paying bidders. ReliaBid subscribers' auctions will automatically display a unique seal, which is proven to be highly effective in ensuring that winning bidders promptly fulfill their payment obligations. They have two solutions and most of their clients are PowerSellers on eBay.

The service also offers access to debt collection services in the event that a non-paying bidder does show up in an auction. Check out the service and post a reply back here with what you think. This service can really help auction businesses be more successful.

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[Mirage]

How exactly does this stop fraud though?

 

[Anti_Fraud]

How exactly does this stop fraud though?

I see fraud as happening two ways: to the buyer or to the seller. I think we've heard a lot about seller fraud (in my mind this is when the seller takes the money and does not deliver the goods). Stuff like that makes for good news and the sad story from the buyer that lost out makes for a good read and evokes sympathy.

However, as a seller, I can face fraud from my buyers: they can bid and then not pay. If I am selling 10 widgets and have an expectation that all 10 will sell, then when some jerk comes along and refuses to pay for one of the widgets, my net sales have now gone down 10% for the period. That's a big deal. I could have sold that to a serious buyer, but that non-paying bidder stopped the auction and prevented someone else from winning and refused to complete his end of the binding contract. That's fraud.

So, the way ReliaBid has worked for me is that the seal has either encouraged bidders to pay, or warded off non-paying bidders. I now experience a higher rate of transaction completion. My perspective on this is such that I equate that to fraud reduction.