How to avoid Scams while selling Gold Online: By Kaneez Batool
With the advent of online trading, there has been a significant inclination in online shopping demographics. Names like Amazon and e-Bay have been around for more than a decade which encouraged the general customers to do more and more online trades.
Businesses such as these have been developed in to complex trading modules, dealing with every day household items such as electronics and machines as well as precious items including gold and jewelry, but just as the common trend is “with every good thing, comes a little bad of something”.
Numerous individuals and companies involved in common scams and fraudulent activities are becoming more and more organized in their erroneous efforts to rob people of their valuables or money through different bogus online stores and offers. Though every trade made online is subject to such risks, but the trickiest of them are the ones involving trades related to precious items like gold and jewelry.
Since items themselves, have significant dollar value attached to them, one has to be very careful and cautious dealing in such trades. Below, we outline some of the key steps one can follow up beforehand. Sensibly choosing a Gold Buyer online: If it is electronics or general item that you need to trade off, chances are you will find reliable names on the internet like e-Bay or OLX, But if it is something specific that you deal in, you would have to do some extra research for the particular merchant as it might be possible that not so many people deal with that trade.
i) Do a considerable research for the type of item you would like to trade; for example if it is gold you want to sell online, make sure you search online for a trader or a company situated relevantly closest to your area. This way you can have a chance to look for them on your own besides the legal authorities given a worst case situation.
ii) If this is gold or jewelry item you need to deal in, make sure you do business with a company or individual who is registered under a .COM domain, certifying that this trader is dealing with ONLINE COMMERCE and is authorized with certain banks to PAY/RECEIVE sums in certain Bank Accounts. This would help you to track down history of transactions through relevant banks in your pursuit of any damages you incurred through mishandling.
iii) Do not submit your credit information or bank details online unless you are certain that you have verified the INSIGNIA of any SSL certified company on the webpage of the relevant trader. In most cases Verizon is the company that deals with such .COM domains.
iv) Make sure you deal in directly with the trader rather going for an online option. If it is the last course of action you have at your disposal then try to have the payment made in advance through ESCROW services before sending your gold or jewelry item through couriers.
v) In most cases you will be helped to verify or at least have the general idea of the particular trader through comments made on the website itself and the level of services people have experienced before on different social media forums. Try to see if you can find some about your own trader and see what people have to say.
vi) Sometimes it may happen that the possible fraudulent traders are using the name or insignia of an already established merchant. This can be tricky, bu, not impossible to spot. Look for the quality of webpage layout, the general body texts and fonts, the images repository as these will more than likely give away their guise.
vii) Another way to confirm the reliability of a trader is to see if the particular merchant is registered with or under an organization that regulates such trades as dealings in gold and valuables. Also, if the business is registered under any State regulated body than it is a good sign that the trader is a reliable business body and has been undermonitor by legal authorities.
viii) Last suggestion in choosing the right gold buyer, only deal with a merchant with an established track history of business in your area and do not go for the high payout rates by the more than average looking trader or a company.