06-16-2006, 10:31 AM
WhaBam, an auction site where last night a quick scan showed only 1 item out of 17,000+ had a bid, has come up with a novel way to fight counterfeiters on its site: it buys their goods.
full article: http://www.internetretailer.com/dailyNews.asp?id=18948
Quote: Crooks increasingly are using online auction sites to sell stolen or counterfeit items, but one fledgling auction site is taking a straightforward approach to the problem. WhaBAM, which emerged from beta testing in March, has set aside a $25,000 fund to buy suspicious items off its site to protect customers from inadvertently buying fraudulent products...
WhaBAM also has set up a system that allows customers to report suspicious items posted on the site. If a customer purchases an item later found to be a fake, WhaBAM will reimburse the customer,...
full article: http://www.internetretailer.com/dailyNews.asp?id=18948