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CNN Live At Daybreak

Dollars & Deals: eBay Advice

Aired July 25, 2003 - 06:18   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: Time now for "Dollars & Deals" with our consumer guru Clark Howard. This morning Clark hits the Web to bring you some eBay advice.
(BEGIN VIDEOTAPE)

CLARK HOWARD, CONSUMER ADVOCATE: This morning's question is from Maury in Mesa, Arizona.

Maury, you want to sell some of your valuables on eBay, but you haven't used it before. Do I have some advice for you?

Yes, I do. eBay has been an absolutely fantastic place for buyers and sellers to meet. But I want you to know with that fantastic opportunity has come a lot of pitfalls and a lot of peril for your wallet. As both a buyer and a seller on eBay, you've got to be absolutely certain you protect yourself against people who might scam you out of your money.

You said you want to sell valuables. That means items that may be of great expense. If you are going to sell valuables to someone, you need to make sure that your money is protected coming from the buyer. What do you need to do? You need to think about using an escrow service where their money is deposited with an escrow service. And once they receive the goods, the real money is released to you. This is good protection for both buyers and sellers. It takes a little money out of the transaction, but it prevents you from being ripped off.

I recently talked with someone who lost $9,900 selling a boat on eBay because the buyer gave him a phony check. How would you feel if you lost all your money? Be careful out there.

(END VIDEOTAPE)

COSTELLO: I'd be angry.

Clark will be back next Friday with more "Dollars & Deals." And you could e-mail us our -- your consumer questions. Just visit our Web site, CNN.com/DAYBREAK.

In the meantime, you can get Clark's money saving tips on the Web. The address is ClarkHoward.com. And I understand he has a book out too, so visit your local bookstore.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com







Aired July 25, 2003 - 06:18   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now for "Dollars & Deals" with our consumer guru Clark Howard. This morning Clark hits the Web to bring you some eBay advice.
(BEGIN VIDEOTAPE)

CLARK HOWARD, CONSUMER ADVOCATE: This morning's question is from Maury in Mesa, Arizona.

Maury, you want to sell some of your valuables on eBay, but you haven't used it before. Do I have some advice for you?

Yes, I do. eBay has been an absolutely fantastic place for buyers and sellers to meet. But I want you to know with that fantastic opportunity has come a lot of pitfalls and a lot of peril for your wallet. As both a buyer and a seller on eBay, you've got to be absolutely certain you protect yourself against people who might scam you out of your money.

You said you want to sell valuables. That means items that may be of great expense. If you are going to sell valuables to someone, you need to make sure that your money is protected coming from the buyer. What do you need to do? You need to think about using an escrow service where their money is deposited with an escrow service. And once they receive the goods, the real money is released to you. This is good protection for both buyers and sellers. It takes a little money out of the transaction, but it prevents you from being ripped off.

I recently talked with someone who lost $9,900 selling a boat on eBay because the buyer gave him a phony check. How would you feel if you lost all your money? Be careful out there.

(END VIDEOTAPE)

COSTELLO: I'd be angry.

Clark will be back next Friday with more "Dollars & Deals." And you could e-mail us our -- your consumer questions. Just visit our Web site, CNN.com/DAYBREAK.

In the meantime, you can get Clark's money saving tips on the Web. The address is ClarkHoward.com. And I understand he has a book out too, so visit your local bookstore.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com