Transaction Protocol
Thread Starter
CF Senior Member
Joined: Feb 2006
Posts: 23,313
Likes: 25
From: Tucson Arizona
Transaction Protocol
I’m selling my old wheels and tires to another forum member. I don't know the buyer and the buyer doesn’t know me.
People are telling me to get the money before I ship the wheels and tires. On ebay, although I can generally check a seller’s history and view buyer feedback...the seller still gets the money before the product is sent. Even if I ship the items COD, I put out a couple hundred dollars in shipping costs up-front and there’s always a risk a buyer writes a bad check.
Conversely, I understand the buyer would be sending money to someone he doesn’t know for a product he hasn’t received.
I’m a trusting person but not naïve...what’s the best way to do this?
To protect myself, should I insist I get the money before I pay to ship the items? I priced them to move just to get them out of the garage...if they don't sell it really doesn't matter.
People are telling me to get the money before I ship the wheels and tires. On ebay, although I can generally check a seller’s history and view buyer feedback...the seller still gets the money before the product is sent. Even if I ship the items COD, I put out a couple hundred dollars in shipping costs up-front and there’s always a risk a buyer writes a bad check.
Conversely, I understand the buyer would be sending money to someone he doesn’t know for a product he hasn’t received.
I’m a trusting person but not naïve...what’s the best way to do this?
To protect myself, should I insist I get the money before I pay to ship the items? I priced them to move just to get them out of the garage...if they don't sell it really doesn't matter.
Retired & lovin' it!
Joined: Mar 2005
Posts: 4,474
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From: Jackson NJ
Wayne...you're a known "persona" on the Forum & the Buyer may not be, so asking for payment in advance is not unreasonable. Other alternative is for someone "known" on the Forum to stand up for the Buyer. I had a smiliar situation couple of months ago & requested payment in advance. I got a personal check from the Buyer (a Forum "newbie"), then shipped the items & we were both happy.
Race Director
Joined: Jul 2007
Posts: 10,698
Likes: 1,134
I believe in the Beer Fairy
You could try to get 50% of the cash upfront. You could just send 2 of the wheels and then get full payment and then ship the last 2 wheels. You can ship all 4 and hope you get the cash.
Good luck.
Good luck.
Burning Brakes
Joined: Feb 2005
Posts: 906
Likes: 0
From: Skippack PA
Wayne...you're a known "persona" on the Forum & the Buyer may not be, so asking for payment in advance is not unreasonable. Other alternative is for someone "known" on the Forum to stand up for the Buyer. I had a smiliar situation couple of months ago & requested payment in advance. I got a personal check from the Buyer (a Forum "newbie"), then shipped the items & we were both happy. Just like any business, you get payment first, then ship. Understandable some one would be skeptical sending money to a person, but its the right way to do it. I'm about to do the same thing, and I'll insist on a check clearing first. Ask for a bank or certified check, and that'll be cleared faster and you shouldn't have to worry about funds or worse, a bounced check.
Team Owner
Joined: Nov 2007
Posts: 45,267
Likes: 8,542
From: Rochester, NY
I would handle it just like an ebay transaction receive the money first if it is in the form of a check wait until the check clears then ship the wheels. Not too many people or places of business will ship product without payment first why would or should you.
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From: Rochester New York
Le Mans Master
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From: Millington Tennesse
St. Jude Donor '11-'12, '14
it would be nice if we could set up a neutral moderator that excepts the money and holds it untill all shipping is complete, and everything is on the up and up. but that could turn into a real hassel. evertime i have bought stuff ive paid for in advance, ive looked at several up close pictures on a set of wheels, so i know that i was getting a perfect set, as long as pics are correct.
i also talk on the phone with the individual, to have more than forum contact. i have gotten 1 bad deal. i ended up with parts for a firebird instead of a vet, then couldnt get a answer from shipper from pms, i didnt get his phone number so i couldnt call him. just lucky i had a firebird and was able to use them. now i insist on phone number, thats not too much to ask.
i also talk on the phone with the individual, to have more than forum contact. i have gotten 1 bad deal. i ended up with parts for a firebird instead of a vet, then couldnt get a answer from shipper from pms, i didnt get his phone number so i couldnt call him. just lucky i had a firebird and was able to use them. now i insist on phone number, thats not too much to ask.
Melting Slicks
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From: --- N.E., Pa.
Team Owner
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From: Ventura County, Calif
Melting Slicks
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From: Made in USA Show Me State
Thread Starter
CF Senior Member
Joined: Feb 2006
Posts: 23,313
Likes: 25
From: Tucson Arizona
Well it seems I share the majority viewpoint...get the money first. The good news is if this transaction doesn't workout, I have someone in the Phoenix area that may want them. I run my car in Phoenix every month so it would be easy to deliver them when I'm there. This would eliminate several problems.
Thanks for everyone's input!
I understand mitigating risk but we're not talking about a huge amount of money. The principle is the same whether I get the money up front for two wheels or four and besides, it seems more of a hassle to ship things piecemeal...better to ship them all and be done with it.
Thanks for everyone's input!
I understand mitigating risk but we're not talking about a huge amount of money. The principle is the same whether I get the money up front for two wheels or four and besides, it seems more of a hassle to ship things piecemeal...better to ship them all and be done with it.
Team Owner
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From: When all is said and done... there is a hell of a lot more said than done. Riverside,Texas
St. Jude Donor '05 thru '26
Melting Slicks
Joined: Feb 2005
Posts: 3,380
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From: Visalia CA
3 ways.
1. money up front, and then you ship
2. 50% up front, you ship, 50% upon receipt of goods
3. escrow.com
#1 is good if the seller is a reputable seller/member, and can be easily found and contacted
#2 is usually used if the buyer is reputable/known, but the seller is new. Protects the buyer a bit more
#3 is usually for large chunks of money, protects them all
I have used all 3, generally I am selling, and I sell/buy a lot, so I follow the #1 rule. However I just bought a predator from a member who had 13 posts, and I went the #2 route. It just depends on your level of trust.
1. money up front, and then you ship
2. 50% up front, you ship, 50% upon receipt of goods
3. escrow.com
#1 is good if the seller is a reputable seller/member, and can be easily found and contacted
#2 is usually used if the buyer is reputable/known, but the seller is new. Protects the buyer a bit more
#3 is usually for large chunks of money, protects them all
I have used all 3, generally I am selling, and I sell/buy a lot, so I follow the #1 rule. However I just bought a predator from a member who had 13 posts, and I went the #2 route. It just depends on your level of trust.
Racer
Joined: Apr 2007
Posts: 399
Likes: 0
From: Harrah OK
On something this valuable you may want to consider escrow.com. I was looking at their site and it seems about as safe as can be and the fees are about the same as a Paypal Premier account. I have not actually tried this service yet, but I think I am going to give it a try on the next valuable transaction I do.
