Thieves Find Exactly What They’re Looking for on eBay

AN JOSE — Stealing the merchandise was the easy part. The ring of young men and women had become pros at snatching cashmere sweaters, perfumes and other expensive items from the likes of Abercrombie & Fitch, Victoria’s Secret and Pottery Barn.

The problem was how to turn the goods into cash. Hocking the wares on the black market was out. They didn’t have the contacts. And any attempt to return the goods for refunds would probably be rebuffed without some proof of purchase.

Soon they hit upon a solution: eBay.

The Silicon Valley-based auction house has become a fabulously successful mechanism for sellers of all kinds: mom-and-pop jam makers, collectors of fine antiques, people who just want to make a few bucks off the stuff collecting dust in their basement. With its global customer base of more than 100 million and software that allows strangers to exchange goods and money without ever meeting, it has maximized profit for its retailers.

It has done the same for thieves.

Sounds interesting…these are generally one off cases and they aren’t putting eBay down!!

More here [ Yahoo! News ]