Beware of offers on the internet that are too good to be true.
An online auction website based in Hong Kong is offering luxury items such as Rolex watches and iPhones for as low as half the price. But it’s not as simple as it looks, and those who joined the auction said they have been scammed, Apple Daily reported Friday.
The company, which claims its parent is listed in the United States, said interested parties must open an account and deposit at least US$1,388 (HK$10,700) to be able to join the auction. Members will be able to bid for high-end goods for as low as half the original price, and could win the items if there are no other bidders within 20 seconds.
Members will be reimbursed US$1,080 within 108 days after opening an account, while those who introduce friends to the auction website will get bonus cash.
The company, which appears to have connections with people from the local entertainment circle, is said to have attracted hundreds of members and amassed more than HK$10 million in deposits.
Some members found it was impossible to win the goods because there was always someone who would bid higher. In some cases, members who sought the return of their deposits were not given cash but offered virtual currency which they could use in the bidding.
Police declined to say whether they have received complaints about the auction website.
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