On Jan 7, 2007, at 11:10 PM, Monte/Jane Morris wrote:
> I'm wanting to advertise our 67 on Ebay in the next few days and
> have never
> sold anything online before. How does one handle the transaction and
> payment once it's sold?
You can receive any amount via Paypal, it is mostly the 3% fee you
pay that limits many people to accepting only the deposit. I
normally require a bank wire transfer of the funds after the initial
deposit. There is normally a fee there, too, but it is smaller.
A bank wire transfer is verifiable, where a cashier's check is not.
Your bank may credit your account with the check funds after a few
days, but will withdraw them again after they find out, 3 weeks
later, that the check was forged. By then, of course, the car is
gone. Cash is nice, too!
The buyer can use the ebay fraud protection feature to protect him or
herself. The buyer should depend on your feedback rating, on how long
you have been a seller, and other intangibles to feel secure. It
probably will be a good thing to mention the mg.autox list, and tell
prospective buyers that they may be able to get a local club member
to come look at the car. Many of us that are trading assistants are
also willing to check out a car locally, which you might also
mention. When the money is paid, I normally send the title, or a
detailed copy if the shipper requires the title to go with the car.
Mostly it is a transaction that depends in large part on feel, if you
know what I mean. If it feels good, it probably is....
Encourage questions, offer additional photos, take lots of good
supersized photos, and describe every flaw exactly, with pictures.
Be honest!
Regards, Bill
Slightly Classics (on ebay it's slightlyclassics)
Tucson, AZ
> From what I understand from reading on Ebay, the
> seller can receive up to a $2000 deposit through PayPal, but how is
> the rest
> securely transfered and the car sale then finalized so that both
> parties can
> be confident they are receiving what they expect? I know that some
> people
> are scammed by accepting cashier's checks that are initially
> honored but
> then later are not, and I'm sure some people have not received
> their car
> after they have paid. How then should I word this in my Ebay ad?
> Thanks.
>
> --
> Monte and Jane Morris
> 1967 MGB, British Racing Green
> 1979 MGB, Carmine, Duel HIF's
> http://picasaweb.google.com/montejane/MGS/photo#5001948439113957394
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