How Can You Avoid Fake Buying Restaurant Equipment at Auction?
When it comes to auctions making sure that the price you’re paying for the item is worth it. Quite frankly, online auctions are really convenient.
Alas, all good things come with the bad.
That’s why we’re here to help you make sure you can avoid buying fake restaurant equipment at auctions. Here are some of the bad signs to look out for.
The Deal is Too Good To Be True
You’re at an online auction and you see kitchen equipment that you’ve been needing. You check the bidding price, and you notice the deal is too good to be true. It could be that the equipment is being bid for a low pricing or it could be that the equipment is state of the art and the asking price is low.
Either way, you have to maintain a certain level of suspicion. Why is the deal so good? You could reach out to the provider and ask about the product. Get as much information as you can and if you feel that they’re avoiding to answer the question, that right there is a red flag.
Plus, if you already have an idea of what the asking price or bidding price should be at, then trust your gut and move on.
Dummy Bidders
Some auction companies or individuals will try to drum up interest in their event by using dummy bidders. Always keep in mind that these are fake bidders. They increase the price of the item they’re selling. It may not seem like a big deal for common items, but for larger items, or in this case, used restaurant equipment, dummy bidders could increase the sale by hundreds or thousands of dollars.
Some ways to identify false bidders:
- “Arrive” early at the auction and familiarize yourself with the rules.
- Watch the bids to see how fast they are coming in.
- How many bids are there?
- Look out for bids that increase in strange amounts.
Scammers
Scammers are very common across the internet because it’s easy for them to do their crimes. Don’t think scammers don’t exist in online auctions. They do. Here’s how you can spot them:
- Make sure that the auction website you’re using is legitimate. Check to see if the URL seems off and their website security.
- Read the fine print. Make sure there are no strange sentences that don’t make sense.
- Learn about the rules and other information like shipping and returns.
- Do your research on the website you are using. You can find reviews and ratings about almost any website. This will help you verify the legitimacy of the website.
Common Types of Scams to Watch Out For
There are a variety of ways that scammers will try to take advantage of you at online auctions. Here are few types of scams to stay aware of:
- Bid Shielding. This practice involves a group of people. One person places a low bid on an item, followed by a much higher bid from others in the group. Once the auction is almost over, the highest bids get withdrawn and that leaves the lowest bid to win the auction.
- Untrue or False Descriptions. Some sellers will create false descriptions for their listings. They’ll inflate the value of the piece and make it seem better than it actually is. It’s common for disreputable sellers to leave bad information out of their descriptions. Some might even alter images of their products or use images that aren’t their products.
- False Reviews. Look out for fake reviews left for auctioneers. Systems are easily manipulated in favor of sellers. Having a perfect rating isn’t always a bad thing, but sometimes it is a bad sign. Trust your gut but also look for average ratings. They’re more trustworthy.
When you’re at an online auction take these tips into account to make sure you’re getting the best used restaurant equipment for your business. Contact us today to find out more about Online Auctions.