Protecting Online Auction Sellers From Non-Paying Bidders

The Online Auction Community

• Of the 114 million users registered with eBay, 165,000 consider online selling their main source of income.
• eBay buyers and sellers will exchange an estimated $30 billion worth of goods in 2004 as a result of the more than two million daily eBay transactions.
  

Online Auction Fraud

• The Internet Fraud Complaint Center says Internet auction fraud is the biggest security concern for Internet users.
• Nearly half of all security complaints filed with the Internet Fraud Complaint Center are the result of auction fraud.
• The average reported loss for online auction fraud has risen to $320, according to the 2002 Internet Fraud Report.
• With online auction fraud becoming more prevalent, online auctions sellers have begun looking for ways to protect themselves.
  

The Solution: ReliaBid’s Online Seller Security

• Through comprehensive debt collection services, ReliaBid provides its members with effective, unique and low-cost protection against non-paying bidders.
• Members put the ReliaBid warning seal on their online auctions to warn buyers of the financial and legal consequences
  of not honoring bids.
• ReliaBid helps online auction sellers reduce much of the financial risk involved in their transactions.
  

What Makes ReliaBid Unique?

• All other online auction security services focus on protecting the bidder.
  ReliaBid is the first and only company to offer seller security by protecting against non-paying bidders.
• ReliaBid not only provides sellers with the tools to dissuade bidders from making bids they do not intend to honor, but also allows sellers to pursue non-paying bidders with debt collection and credit reporting services.
• ReliaBid automatically inserts the program seal into all member auctions.
• ReliaBid members are billed monthly based on the number of auctions run in a 30-day period.
• ReliaBid is the only online auction service provides sellers with alternatives to pursue non-paying bidders, among which are the options of selecting a debt collection agency and credit reporting services.