Hey gang,

I'm hoping some of you can offer useful advice about selling on Ebay. What are the do's and don'ts?

What worked for you? Any nightmare stories about sales or purchases there that might help me avoid some pitfalls?

As always, your direction is much appreciated.

 

Been buying and selling on ebay since '99 and have found it to be an excellent source of finding what you need and generating some income. Since you specified "selling", I won't go into getting ripped off from sellers. Lately it has become a buyer's market. If you're not happy for any reason with something you purchased, ebay will be quick to open a case in your behalf and get you a refund. But there are flakes out there, both buyers and sellers, First of all, as a seller, realize hat between fees and paypal, they're gonna take 10 %. You'll find that you need to be very honest in your descriptions and not overstate. Ebay will side with the buyer if there's ever a dispute, and although you may be in the right, you will be treated as the bad guy. I've lost money on things I've sold to fix issues that weren't my fault, But I have 100% positive feedback. That being said, for the most part, transactions are smooth, you get paid right away, you can pay shipping and print shipping labels, get free tracking, and have gained some friendships from buyers with common interests.

 

What are you selling? A complete car or parts?

The rules vary depending on the item. I sell hundreds of items a year with zero problems, but you do want to understand the rules. Also, you need to provably read PayPal's rules as they are the ones that can actually protect you and guarantee your transaction, but only if you jump through all the required hoops.

 

Selling the whole car. I've got a silver 75 coupe for sale here on the forum and thought I'd put it on Ebay, as well.

I have certainly read up on it, but I know the folks here have first hand experience that isn't exactly spelled out in the rules posted there.

Thanks for all the info so far, and please, keep it coming.

 

[QUOTE= But I have 100% positive feedback. That being said, for the most part, transactions are smooth, you get paid right away.[/QUOTE]


you do not get paid right away, until you make 25 sales new sellers on ebay have to wait three days after the item has been delivered to access your money, if you don`t submit a tracking number it can be much longer, then you have to wait while pay pay transfers your funds to your bank, fees are not 10% but 13% and your paying that 13% on the item and on the shipping and finally ebay feedback is highly overrated, I have one recent negative from a guy who had buyers remorse but that one negative hasn`t stopped anyone from buying and it certainly wouldn`t stop me.

 

My hundreds of eBay sales are always parts (smaller items) so someone else is probably better suited to answer your questions concerning selling a car as the rules are different.

I have purchased several cars off eBay before, but I always meet in person to inspect the car and transfer cash/car/title.

Good luck.

 

Ebay has a local classified section for selling cars. It only shows up for local buyers and its free. I think it will only run a week. But it costs you nothing to run your ad and there are no fees when selling

 

I bought and sold over a dozen cars on ebay and it can be great. As far as selling, pictures and lots of description are key. Decide on your bare minimum price and whether you want to start low and use a reserve, start at your minimum with no reserve or just do a buy it now. I usually go the second route because I think that's the most fair to both buyer and seller. They know that to place a bid will definitely be serious (as opposed to having no idea what the seller actually wants out of the car with a reserve). But it lets the seller have the opportunity to get multiple parties interested.
The other piece of advice is don't get your hopes up. There are a ton of cars out there for high prices (which makes you feel like you can do really well). But most of them aren't selling. It's definitely a buyer's market.

 

A lot of ebay sales are after the auction.. and you hope to some degree outside of ebay.. ebay does give your car national exposure. you as a seller want to sell outside of ebay in order to save the fees and save the hassle of the ebay guarantees for the seller if the transaction goes bad.

you do this by setting your reserve high to the point you will not get bids.. and then along comes a buyer after the sale who will ask you for a more realistic price.

so don't worry if your car does not sell 1st time.. you can always re-list it.

I have sold 2 very high dollar items where the buyer did not even ask me any questions. but their money was good.. but you still have to watch out.

also there are services out there where you can run a background check on your buyer...

I had a buyer once fresh out of jail wanting to pay me weekly, then all of a sudden he decides to pay me all at once in post office money orders... the money was good, but I decided not to sell to him.

just make sure the money is good before you release the car and title.

minimize your deposit requirement since it will be paypal and reversible and require the rest in cash or cleared funds.

 

That is cool/ I will definitely try that. Thanks Punisher.

 

Thanks to everyone for the insiders scoop. Very helpful.

I'm curious how the purchase goes when you meet in person and exchange cash. Does Ebay still get a cut? How would they know if it sold?

Keep the tips coming, please. I think this is helpful for anyone buying or selling on Ebay. Great stuff. Great Forum.

 

"minimize your deposit requirement since it will be paypal and reversible and require the rest in cash or cleared funds."

Thank JOEWILL I'd have never known that.

 

Ebay knows it is sold by a final successful bid. they will then charge their fee to your paypal account and take it out of the balance ( from the deposit money), or ACH the money out of your bank that you declare with your paypal account.

if your transaction goes bad then you have to call ebay and settle with them what the final fees will be.. usually they charge a listing fee which is not refundable, but the final value fee is refundable if the transaction does not complete, but you have to try real hard to get the buyer to pay and file a claim if they do not.

 

Paypal fee is 2.9% so for a $20k sale its $580! If the buyer does not pay cash and you want a check or MO instead of paypal, be aware it could take up to ten business days to clear.

Correction the 2.9% fee only applies if you send money using a card, the fee does not apply if using Paypal balance or bank account.

 

FWIW: Every car I've bought off of eBay I've sent the seller an email stating "If your car doesn't sell in your current eBay auction contact me after the auction has ended if you are still interested in selling". That might be a little unethical as it's just cutting eBay and PayPal out of the deal, but it frees up more money for both sides to bargain with.

 

I hate ebay............ and for that matter Paypal.. because they ain't your pal.. Screw them at will..

If you are going to accept money orders as payment, don't to it.... you can stop a payment on a money order.

Use only certified bank checks for final payment or cash... They can't be reversed and/or you could hold title until cleared.

As Joe said, keep the deposit to a minimum because Paypal is not your friend either. They may smile and tell you they are your friend but as one that is on the sellers side they are not. Crooks will do anything they can to beat you these days and while it's sad, it's true... keeping your deposit low you reduce exposure.

I'd try craigs list first where there are no fee's and you can wheel and deal without issue.

IMHO,

Willcox

 

Some things to keep in mind:

-many (most) eBay car sales are completed after the auction ends
-as a seller, it is to your advantage to strongly suggest the buyer see the car in person first or send a proxy to do it. The arguments after the sale are fewer.
-clearly state how long after the sale the total payment is required. If someone is jerking you along, you can bail quickly
-do NOT allow a buyer to talk you into participating in a tax fraud scam by providing him a false sales document. This is a criminal offense. Ask me how I know.
-feedback means nothing now. Ever since eBay stopped letting sellers leave negatives on buyers, unscrupulous buyers have been extorting sellers routinely.
-on the flip side, high feedback also means nothing. Most people don't sell a lot of cars, so they could legitimately have a very low total ranking. However, some people's very high rankings are 99% nickel/dime flea market transactions that offer no indication in trustworthiness in selling a car.
-make it clear the car is sold with no warranty.
-make it clear the car goes nowhere until paid for.
-insist the buyer do his own due diligence, including bringing his own advisor if necessary.

I'll think of more later.

 

The paypal fee only applies to the deposit, not the full sale price. Bank/Certified checks are being forged. Do not release the car for delivery until the funds have cleared the bank-and then wait a few days more to insure that the account holder from which the funds were drawn doesn't object. Use the internet to search the background of the buyer/seller. I had a cop friend do a W/W search on a seller for a cash sale, and when I picked the car up I made sure they knew that law enforcement had their names.

 

Post as many pictures as you can, from all angles.
Be completely honest in your description.

Wording I use in my ads: (I know E-Bay has their own, but I put these in the description field, removing any doubt)
"Car is sold as is-where is"
"Ask all of your questions prior to bidding"
"Vehicle will not be released until all funds have cleared"
"No warranty"
"Transporting of vehicle is buyers responsibility"
"I will assist on my end with your transport company"
"Vehicle must be picked up within 21 days after funds have cleared"
"The deposit is non-refundable"
"Full payment to be made within seven business days after auction ends"

 

I personally would never sell a car on E-bay that was 20k or better because of the risk.....and the slice that E-bay gets.....
I plan on selling my 1979 Honda CBX on E-bay in the fall mostly because of the exposure....

Common sense and TMI in the description are your friends....
Write the ad so NOBODY has questions.....ask yourself what you would ask yourself if you were looking.....
And make sure your reserve suits you!

Jebby