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    1. Justin85 is offline

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      #1

      What To Be Wary Of When Buying Stock From China To Sell In The US

      I've been thinking of buying stock from China to sell in the US for a long time. The main thing that has held me back all this time is the scams. There just seem to be so many issues and things to be wary of when it comes to Chinese products.

      Can anyone share tips on how to look out for frauds or scams?

      Also, is there anything to keep in mind when assessing products or suppliers from China? Much appreciated, thanks.
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    2. Mrs. Whiskers is offline

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      #2
      As someone who has been burned a few times buying stock from China and since I really learned the hard way, I'm more than happy to share what I know!

      I will say that whatever scams are happening out there today are mainly fueled by ignorance. And that's precisely how I got caught, I simply didn't know what I was getting into.

      Now China is great for getting a lot of products. But it is not some magical country where you can get branded or designer products for really cheap prices! This is such a common misconception and I can't even count how many people actually buy into this.

      Authentic branded and designer products are very hard to get. The chances of some wholesaler supplier in China having barrels of iPads available for half-price is absolutely ludicrous.

      For the love of Mike, please don't buy into any deal that says they can get you branded goods or designer wear direct from factory at less than half price. You cannot get branded items from the factory and you definitely cannot get them at less than half price.

      If you understand this, you'll easily avoid half the scams out there.
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    3. BaiLing76 is offline

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      #3
      This is definitely one of the biggest issues in buying stock from China but like Mrs. Whiskers says, it's partly the retailer's fault. Buying stock from China to sell means you're dealing with INTERNATIONAL BUSINESS!! That's not a joke! You need to do your research, need to know what the risks are, it's a lot of work.

      I know this sounds hella harsh but it blows my mind that people think they can get cheap designer stuff from buying stock from China just like that, as if it's magic. It's not, it's a business like any other business.

    4. DropshipDiva is offline

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      #4
      I don't think that's harsh at all. This is where a lot of people screw up in dropshipping as well, they fall for things that are just too good to be true. I've read that these kinds of scams are pretty common in China though, they seem to pop up on auction sites and B2B sites as well.

    5. BaiLing76 is offline

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      #5
      I would be really careful of buying stock from anywhere in the Fujian district or the city of Putian, those areas are notorious for producing counterfeit items. Here's the thing. These guys are already dealing in illegal goods. So the last thing they're worried about is getting you your product or anything like that, they just want your money. Simple. In fact, it's probably better if the goods don't reach you at all because you could end up in trouble with customs.

      That being said, when buying stock, there are companies that will openly tell you they deal with fakes. And some of these fakes are pretty good, I've seen them myself. And if you want to do business with someone who openly sells fake goods, well that's your business.

      I also want to mention that there are legit companies in China who deal with refurbished electronics. Basically they take damaged or old goods, clean them up and offer them for sale. This isnt illegal but the goods may not be perfect. It's important to be clear about that before buying stock from them.

    6. Justin85 is offline

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      #6
      What about the red flags? What are some of the signs that can tip you off that you're probably dealing with a scam?

    7. Mrs. Whiskers is offline

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      #7
      As I said before, anyone that offers designer or branded items for dirt-cheap prices is a massive red flag. But there are other smaller things to check before buying stock from them.

      In my experience I've noticed that scams usually have:

      • badly designed sites and the email ids are all free ids

      • They usually won't have any SSL certificates and I've seen some go so far as to put up fake VeriSign logos. You need to be super careful about these kinds of details when you check them out.

      • they receive money through Western Union, Moneygram or a personal bank account. In these cases, it can be really hard to trace where exactly your money is going

      • they may even ask for your credit card details via email or through chat sessions

    8. BaiLing76 is offline

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      #8
      Those are all great tips. I would also consider the following before buying stock for resale. Avoid dealing with companies if-

      • They won't provide you with working landline numbers but they will give you mobile numbers. Please people, this is not some "Chinese" thing- if it's a legit business, it will have a landline, even if it's just one. If it doesn't have a landline, ask yourself what kind of company that probably is

      • they will try and urge you to pay as quickly as possible

      • they will claim to be a big wholesaler but they won't appear anywhere on Google

    9. Justin85 is offline

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      #9
      Perfect, this is exactly what I was looking for! Any tips on what to look for in suppliers, before buying stock? I have shortlisted a few that look good but am unsure how to proceed because I don't know what to look out for.

    10. BaiLing76 is offline

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      #10
      Well any legal supplier or wholesaler in China needs to have a company registration number. If they don't, they probably aren't legally recognized and you should probably think twice about buying stock from them.

      Once you get their registration number, you need to head over to the government website of that locality and check the number. These sites are in Chinese though so get someone to help if you don't know the language.

      Also check the registration number with the local Bureau of Industry & Commerce cell. If you can't handle this on your own, you can hire a third party company or agent to do it for you. But definitely check this out before buying stock or placing an order.

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