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Originally Posted by 3aficionado
They say fraud is only 1%... if you believe that I have an M3 in Nebraska I will sell you for $60k 
If fraud is really 1% what good reason would eBay have from hiding information from users that would help them detect fraud (negative feedback & bidding history). The evidence is out there. I'm with you and would like to see a reporter crack this story. |
HAH! 1%. I think any biz model that leaves 1 out of 100 customers conned would be closed down be the authorities sooner or later. If that is really their actual figure, that must have upped it considerably in the past. I have an article from 2002 here that states:
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Although the company downplays fraud as affecting only one one-hundredth of one percent to one-tenth of one percent of all auctions,
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http://www.news.com/Fraud-lingers-de..._3-940427.html
However, it might be a terminology thing. This article talks mainly about downright cons, like escrow fraud and identity/account theft. Maybe the legalese department of ebay has redefined fraud to "complete loss of money" and does not count shilling and baiting tactics as downright fraud but as... well... "creative capitalism without the folly swaddles of consumer protection and seller accountability" or something.
More interesting reading fodder:
eBay Auction Fraud Spawns Vigilantism Trend
http://www.auctionbytes.com/cab/abn/y02/m10/i12/s01
And it seems that some "official" authorities have woken up but are just understaffed:
http://www.news.com/FTC,-states-take..._3-999009.html