6 Subtle Red Flags to Look Out for When Buying Online: How Escrow Can Help
Field trips are always an exciting experience. The journey across roads and beautiful landscapes in the company of friends was an event almost everyone in Hilltop, Summersville looked forward to. This year, Sarah and Alex decided to join the trip in the company of other friends. Sarah was an art collector who loved antiques while Alex was renowned for his uncanny ability to spot deceit lurking behind gleaming facades. Sarah and Alex had been close friends for years, sharing a unique bond despite their strikingly different personalities. Sarah’s passion for antiques was well-known among their circle of friends, and Alex’s reputation for being an extremely paranoid person often led to good-natured teasing.
The field trip was to last a day but a few hours into the trip, Alex and Sarah were already beyond thrilled by the lush grasses and towering mountains. The landscape was as ethereal as it was magnificent. Several hours later, most members of the group were asleep on the journey back home. The group was a little exhausted after a challenging yet fun climb up a mountain. They all thought mountain climbing was easy until they started, then the phrase, “Don’t judge a book by its cover” made sense. Sarah couldn’t sleep. She was tired but she preferred the comfort of her bed to the hard cushion the bus seats provided. She decided to browse the net. She had always wanted to get a feel of buying an antique from an online store.
Picking up her phone, she mulled over what online web to surf. While browsing, she stumbled upon an online store, “MystiGems Emporium.” The shop offered a breathtaking array of gemstones, from the rarest sapphires to the most exquisite emeralds. Intrigued, Sarah began browsing the glittering collection until she saw it. A beautiful antique ring. To the ordinary eye, it seemed like a regular ring, but she knew better. This was no regular ring. She excitedly woke her friends to show off her latest find. Without any hesitation, she intimated her friends of her intention to buy it from the online shop. Alex couldn’t help but voice his concerns, causing the others to laugh. He had always been the one to add a touch of caution to their adventures. As Alex examined the online shop, six subtle red flags began to emerge, each a whispered warning silently echoing the doom that awaits any unsuspecting victim.
- Prices that existed as fantasies: MystiGems’ prices were unbelievably low, far below market value. Alex knew that this was the first red flag. He didn’t know so much about antiques and their value, but if the value was as good as Sarah put it, then the price definitely seemed too good to be true and if something seemed too good to be true, it usually was. However, Sarah was not having his paranoia ruin her once in a lifetime opportunity to get such valuable antique. She defended the online shop with the argument that the antique might have been some distress sale or public auction. Alex, poor with words, couldn’t convince Sarah otherwise.
- A suspicious website: The second red flag was the website itself. It had a clunky design and seemed poorly maintained. Alex could excuse this. The online retailer probably didn’t have enough funds to upgrade the website. A thought he found ridiculous because an online jewelry store of that acclaimed magnitude should be buoyant enough to have a better website.
- A mysterious seller: The seller, had a shroud of secrecy around her. There were no photos or personal information, just some enigmatic silhouette indicating she was a she. A mystery was exciting and Sarah was definitely thrilled. Alex however couldn’t understand if Sarah was hypnotized. How do you make an online transaction when the seller’s identity is covered in mystery? To him, it was a danger sign. The other friends understood his point of view but they didn’t want to kill Sarah’s enthusiasm. The fact that lady Mystique’s profile was vague could not summarily imply the fraudulent nature of the store. Besides they had successfully bought a bracelet the previous month from an online vendor whose profile was discreet. Except the said online vendor had an active Instagram and Facebook account. The mysterious she didn’t.
- Sceptical reviews: The reviews on the site were glowing, but they lacked substance. They all read like scripted praise rather than genuine feedback. Alex knew that credible reviews were critical for trust. He could visualize the mysterious she writing out such scripted reviews. How could he relay his foresight to Sarah who was already carried away by the charm of the reviews? The other friends were not helping matters. They dissed him for being a killjoy even in the presence of such beautiful testimonies. Alex didn’t know what to believe anymore. Maybe he was just a killjoy.
- Limited payment options: MystiGems only accepted cryptocurrency. While Alex understood the allure of crypto, it was unusual for an established shop not to offer traditional payment methods. Besides, it was a norm for reputable online stores to offer a variety of secure payment options. Sarah’s enthusiasm was tempered only by the fact that she had almost no knowledge of cryptocurrency. Thankfully Aaron, Alex’s brother, who was in the group at the time, came to her rescue and offered to use his crypto account. Although he was as wary as Alex about the deal, he had a crush on Sarah.
- Shipping and delivery uncertainty: MystiGems provided no clear shipping dates or tracking information. Alex and Sarah had no way of knowing when the antique ring would arrive. This lack of transparency was another red flag. Sarah didn’t mind. She felt she would use some sort of courier service. That did not directly concern her – so long as she makes payment, her obligation is presumably fulfilled.
These red flags made Alex very wary of the entire deal. Sarah could feel his apathy. However the other friends kept pushing and prodding until he agreed to support Sarah. Alex decided to put a call to Michelle. Michelle was very popular in the area for her ability to unearth the truth behind online schemes. Alex reached out to her and gave her the entire gist. She browsed the online store and immediately sensed the gravity of the situation. The entire website reeked of deception. She advised them to not go ahead with the purchase. Sarah was not having it. She wanted that antique ring at all cost. All Alex could do was convince her to stall the purchase till after the field trip.
Two days after the field trip, Alex and Sarah decided to pay Michelle a visit. Together, they hatched a plan. They reached out to MystiGems, expressing a keen interest in purchasing the antique ring. As expected, the mysterious she was more than willing to proceed. Alex and Sarah were puzzled by Michelle’s strategy to determine if the store was a scam or not. Michelle sensed their bewilderment and introduced them to the concept of Escrow. She explained that Escrow, as a financial arrangement involved using a neutral third party to hold funds or assets in a transaction. As a responsibility, the third party usually ensures that both the buyer and seller meet their obligations as per the agreed-upon terms. Funds are released when the terms are met, and in case of disputes, the escrow agent mediates or follows the agreement’s instructions. She identified that this system is commonly used in real estate, online purchases, and various financial transactions to enhance trust and transparency. The explanation convinced Sarah and Alex of the potent nature of Michelle’s scheme.
After the mysterious she provided necessary details, Michelle insisted on using an escrow service for the transaction to protect both parties. To Sarah’s surprise, she hesitated, claiming she’d never used an escrow service before. Michelle unwavering, explained how it worked. The escrow service would hold her payment until she received the journal and was satisfied with the purchase. After much persuasion, she reluctantly agreed. Michelle selected a reputable escrow service, and the transaction was set in motion. Sarah transferred the funds, and she promised to get the ring to Sarah in three days.
The waiting game began. As days turned into weeks, she kept giving excuses for the delay while coaxing Sarah to ignore the escrow service and pay her directly so she can facilitate the speedy delivery of the ring. At this point, Alex’s paranoia was validated and Michelle’s investigations proved to yield result. Sarah realized she had nearly fallen into a scam trap.
They contacted the escrow service to stop the transaction and requested a refund of Sarah’s money. Thankfully, since the funds were held in escrow, they could freeze the payment and investigate the matter further. They discovered MysticGem’s fraudulent intentions and blocked him from their platform while informing buyers online of the scam website through an online circular.
Sarah had narrowly escaped being scammed, thanks to Alex’s wariness and Michelle’s insistence on using an escrow service. With her money safely returned, she continued her search for an antique commodity – this time with an even sharper eye for scammers. The experience taught her a valuable lesson: never underestimate the power of escrow in the world of online transactions.
From that day forward, Sarah became an advocate for online shopping safety and recommended Escrow to everyone she knew. She was no longer just a curious shopper but also a vigilant one, armed with the knowledge and tools to protect herself in the vast virtual market. See
