According to an AP story the day after Michael Jackson died, sales of the singer's videos and music are skyrocketing. In addition, the Wisconsin Better Business Bureau has been monitoring listings of such items on ebay. Bidding for one guitar, which the seller states has been signed by Michael Jackson, was at a few hundred dollars Thursday morning. Current bids are more than $1,400.
The Wisconsin BBB urges consumers to be cautious if they’re looking to buy Michael Jackson music, videos or memorabilia. Price gouging, counterfeit items and similar scams are common problems during times like these. It’s likely that many domain names containing the words “Michael Jackson” will be up and running, and possibly selling items associated with the singer of questionable quality and authenticity.
Here’s some advice from the BBB:
- If you’re looking to buy a Michael Jackson CD, be patient. Major retailers like Barnes & Noble and Amazon may be sold out of the merchandise, but they expect more stock to be available.
- If buying a piece of autographed memorabilia, make sure the item comes with a certificate of authenticity (COA). However, these certificates can be as phony as the autographs they’re supposed to be certifying. Make sure that these COAs come from a reputable authenticator.
- Look for a hologram in the corner of an autographed picture. Many reputable memorabilia brokers will attach a tamper-proof hologram that is uniquely numbered and can be tracked in a database.
- If the first two options aren’t possible, aggressively question the seller about the history of the item. Ask for the sales history and a receipt or other documentation that shows how he acquired the merchandise. People who have nothing to hide will gladly share this information with you.
- If you’re buying an item on ebay, don’t solely rely on the seller’s reputation to determine which item to bid on. The seller may have a solid reputation because he delivers on time or refunds money, but his reputation may not speak to whether or not his merchandise is authentic. Instead, check to see what other items he/she has for sale. Look for patterns that the seller is offering a lot of other memorabilia at “rock bottom” prices.
- Educate yourself. You should know before you bid on an item the fair market value of the piece. Be skeptical of things that are selling far below fair market value because if the price is too good to be true, it probably is.
- If buying from a dealer, check his/her reliability with the BBB at www.bbb.org.