Scam Alert- Domain Name Appraisal Scam

My purpose in writing on this blog is to share the many tips that I come across that relate to making money online. Unfortunately, there is a flip side which must be discussed as well and that is the topic of internet scams.

Scams have been around since the beginning of time, but the internet has bred a high tech, and often hard to recognize type of con game. Here is one of the latest that I read about this morning.

I recently received several e mails from domain sellers who had fallen victim to a domain appraisal scam. The scam starts with a mail the seller receives concerning a domain they own and the scammer showing interest in buying it.

The scammers find information about their targets on Ebay and on Whois.

In the first mail they tell you that they are a new player wanting to invest money in the domain market as a side business and inquire how much you want for the domain.

Next step is the mail in which they accept your asking price for the domain. The scammers tell you that they want you to get the domain appraised as they don’t want to make a bad investment. The scammers want the appraisal from a certain manual appraisal website which they believe to be a good one, ofcourse this appraisal website is part of the scam. This appraisal website gives a highly inflated appraisal value and asks a high fee for it ( up to over a hundred dollars) as they know you need the appraisal to sell the domain.

The end of this story is that once you have mailed your appraisal you never hear from your buyers again. leaving you one hundred dollars poorer and an absolutely useless appraisal richer. This is a very cunningly operated scam and to show you how such a scam mail looks i give you a real example of such an email below.

Email 1:

Hello,

We ‘ve found your domain name listed for sale..

If you are still interested in selling please send your quote and I will

consider it with my partners.

Main direction of our business is software development and technical

support.

Domain names is not our business but a new way to earn on reselling. We are

going to buy domains to resell them at higher prices since we have a large

database of clients interested in good domains.

Looking forward to do business with you.

Regards,


Email 2:

You want 13,500 USD. Ok.

Do you sell domain with a web site or just the name?

If it’s just the name it’s ok. A web site is not necessary.

Have you had your domains appraised already? Can you show me your valuation certificates? As far as I know it’s a common practice to show appraisal of domain name (even without traffic and web site) before doing business.

Without an appraisal I risk to overpay. In other words I won’t be able to make a profit on reselling this name. It’s very important for you and me to know the current market value of your domains.

Of course, we must be sure that you are engaging an appraisal company with REAL manual service. I heard many appraisal companies often made inaccurate auto-generated appraisals. I will only accept appraisals from independent sources I trust. To avoid mistakes I asked domain experts about reputable appraisal companies in a forum. (they now give you a link of a forum you have to check out)

Just check this posting.

If the appraisal comes higher you can adjust your asking price accordingly. I also hope you can give me 10 discount of the appraised value.

After I get an appraisal from you we’ll continue our negotiations.

How do you prefer to get paid: Escrow.com, PayPal.com check or wire?

Hope we can come to an agreement fast.

Looking forward to your reply.



So if you ever get an email like this, you know what to do. Scrap it. Just remember this wise saying that if something sounds too good to be true it probably is.

About the Author:

Brian Holland works as a moderator for GoogleGoogle.net and gets first hand information on new trends and scams on the web.

http://googlegoogle.net

Scams & Swindles: Phishing, Spoofing, ID Theft, Nigerian Advance Schemes Investment Frauds: How to Recognize And Avoid Rip-Offs In The Internet Age

Scams & Swindles: Phishing, Spoofing, ID Theft, Nigerian Advance Schemes Investment Frauds: How to Recognize And Avoid Rip-Offs In The Internet Ageis a good resource that covers just about every type of scam on the internet today. From the review:

Phishing. Spoofing. Spyware. Swoop and squat. Malicious spam. Chain letters. Ponzi schemes. ID theft. The Internet Era has created a whole class of frauds and schemes that separate people from their money. It's also given new life to older cons and scams. This book organizes various rip-offs by type and severity. Then it explains how each type of scam works -- and how an ordinary person can recognize it before getting taken in. Drawing on interviews with law enforcement experts, victims and even crooks, this book gives readers a state-of-the-art primer on financial crimes and the sleazy dealings that fall slightly short of illegal. It also uses real-life case studies of frauds, to show how they start and how they end -- all in a plain-English style that everyone can enjoy. And this book does more than just tell stories; it gives readers questions, checklists, worksheets and other tools to make sure they're not being scammed -- or to take the right actions if they have been.

Home Based Web Business- Is it Legit?

Get Rich Quick! Make money while you sleep! No inventory needed! You see and hear these types of advertising everywhere. If only it were that easy. There are several things that you need to consider before jumping on the bandwagon of any internet home-based business opportunity. The following article provides some insight into some of the things that you should be on the lookout for.

There are so many opportunities on the internet offering to set people up in their own home based internet business that it can be difficult to separate the real, legitimate opportunities from the ones that only want your money. Knowing what to look for hidden within the offers can mean the difference between finding a legitimate business to operate and ending up helping someone else make money while losing your own.

With most fraudulent offers for in internet business there are four red flags that need to be thoroughly investigated before signing up to work for the website. Understand that not all of the companies that make these claims are out to take your money, but these are four things that many less than honest companies have in common:

1. Large upfront investment
2. The chance to make big money with little work
3. Do not clearly state what you will be selling
4. Lack of available contact information

While it is not uncommon for business to want a fee to become a representative for their business, you have to consider the amount demanded from you before you can start selling their product or service. You should also have a clear picture of what you will get in return for your investment. It is common for the term training to be listed, but many times the training consists of links to other sites where you are expected to learn about the company’s business model.

The training may also focus on how to recruit others into the business, offering to pay a “bounty” for bringing in new people. A company that focuses on bringing in more people instead of selling the product may be on the border of being illegal.

Anyone who has ever been involved in a business knows it takes work. One of the most common pitches is the promise of a big payday without having to work more than an hour or two a day…or even a week. There is no such thing as a free lunch and those who try to convince you otherwise and not being totally honest. That disclaimer about income may not a representative of the potential earnings, should beg the question about why even bother to list it.

If you have been reading an online based business opportunity for several minutes and have no idea about the product or service you are being asked to sell, it could be an indication of a scam. Many keep it a secret until you have spent your money and find out there is no way you can sell this to others with a clear conscious. Know what the product is, and how much it will cost, before considering the offer any further.

Look for contact information. If the only means of contacting the company is through an email address, it could be they don’t plan to be around long enough to answer any questions or complaints. Money back guarantees are also only about as good as the contact information. Email addresses and post office boxes are not good contacts.

About the Author:

Eric Baucom
Record-breaking growth has driven us to the top of Internet marketing businesses. You can build a profitable home-based business working part-time from your home computer! Training, support, Websites, and products all provided! Enroll FREE!
http://www.HomeFreeWealth.com