Things to take note to prevent e-auction fraud when a consumer participating in an e-auction

Auction is market mechanism which buyers make bids and sellers place the staring offers. It is characterized by the competitive and dynamic nature by which the final price is reached. Auctions can rapidly disposal of items that needs liquidation or a quick sale, they offer trading opportunities for both buyers and sellers that are not available in conventional channels and they ensure cautious execution of contracts.

Types of auctions are traditional auctions, electronic auctions, dynamic pricing, English auctions, Yankee auctions, Dutch auctions, free-fall auctions, sealed-bid first-price auction and sealed-bid second-price auction. The most popular type of auctions is an electronic auction (e-auctions) which means auctions conducted online. The most popular e-auction website in Malaysia are eBay.com.my, Lelong.com.my, and so on.

Things to take note to prevent those e-auction fraud are:
- View carefully the sellers' post selling record by viewing the seller's profile and feedback from his or her post transaction records.

- Know the e-auction website precedure and regulation. Find what obligations you have as a buyer, and what obligations the seller has before you make a bid. Seller will not liable to help you if you do not follow proper prevention measures.

- Do not simple expose your personal data such as user name and password, credit card numbers, bank account numbers and others.

- Strongly request the seller to do self delivery where both parties will be able meet up face to face and complete the transaction. In other words, it can be said Cash On Delivery. If the seller is stay other states, request the seller to give you the tracking numbers of the posted item from postage companies in order to track the status of the item will be sent.

- To protect sellers, a friendly warning for first-time nonpayment. A sterner warning is for second-time offense, with a 30 day suspension for a third offense and an indefinite suspension for a fourth offense.

- Check the item physically for damage and internal failure of some electronic items or collector items.