I learned a new scam from a customer today.
The seller wrote an appraisal for ‘insurance purposes’ that was 10X the transaction price. Obvious baloney, which is why they came to me, but then is when it got tricky.
Shipping insurance costs 10% of the appraisal value and is supplied by an in-house insurance policy, but no one notices because shipping is ‘free’ as long as the customer kept the goods. Who cares? This appears nowhere on the invoice or in the terms and conditions beyond the FREE SHIPPING statement. This only kicks in if you make a return.
Think about that. Buy an item for $1000 dollars that’s supposedly worth $10,000. Of course it's not true, but it doesn't matter. The non-refundable 'shipping insurance' component is $1000 if you send it back.
Edited by denverappraiser, 10 January 2017 - 08:13 PM.