Proper action for a stolen package from a Buy/Sell/Trade transaction

[Jim65]

Originally Posted by Fred

Just curious, if the seller requests F/F and S/S is selected (and the 3% fee is paid by the buyer), does that mean paypal is going to side on the buyers behalf if the package is NOT RECEIVED? What if the buyer produces a legitimate tracking number to paypal? Does that have weight in the decision to side with the buyer by paypal?

Bottom line, is paying paypal S/S like putting the seller on notice that they might want to consider insuring the package?

How many people on the BST pay the 3% for S/S even though the seller is asking for F/F?

Can the seller cancel the sale if F/F was requested by the buyer paid with the S/S option (and 3% paid for by the buyer)?

Just trying to get ahead of the curve here.

PayPal guarantees delivery. They will refund when package is lost or item is different than seller described. Buyers have 180 days to file a claim. Whether they take the money back from the seller is up to them.

I guess a seller could decline a G&S when a F&F payment was asked for. Why would a seller want a buyer to forfeit their Buyers Protection? I certainly wouldn't do business with that person.

2 additional things.
PayPal requires Signature Confirmation on items over $750.

Its against PayPal rules to use F&F to pay for items, I read they are going to start cracking down on people who abuse it so everyone should be careful.

[jchcollins]

Originally Posted by Jim65

Its against PayPal rules to use F&F to pay for items, I read they are going to start cracking down on people who abuse it so everyone should be careful.

And indeed they are. The vintage card forums on FB lately have more than a few tales of people's PayPal accounts that have been mysteriously suspended without warning. In many cases these folks have admitted to taking a lot of FF payments for cards.

[Brian Van Horn]

Well, put in a report with the local post office today given the fact of the understaffed masses working the post office. This would have been put in Saturday, but there was difficulty filling out the report in what fit what category for processing. Received a call from 845-315-2235 6:05 p.m. EST. Returned the call at 6:07 p.m. EST and given an indistinct answer as to the call location although the area code matches that of the post office for the Congers area.

[Fred]

USPS Insurance rates:

$50.01 to $100 is $2.05.
$100.01 to $200 is $2.45.
$200.01 to $300 is $4.60.

The price per additional $100 of insurance, valued over $300 up to $5,000, is $4.60 plus $0.90 per each $100 or fraction thereof.

$500 = $6.40
$1K = $10.90
$2K = $19.9

If the insurance rate for USPS is about 1% (there about), then wouldn't it just make sense to pay the 1% USPS insurance cost rather than the PP G/S rate of 3%?

Based on the information provided, PPGS is 3% and is great for the buyer because of the protection offered.

If the buyer paid for PPGS and declined the insurance coverage offered by the seller, then it wouldn't matter if the package didn't show up (for any reason), because the buyer is protected whether or not they opted to pay for insurance. Is that abut the gist of it?

I'm still lost on how paypal could force PPGS on sales rather then PPFF. I suppose if paypal saw MANY transactions, then they could assume the payment transfers are for G/S rather than a friendly payment.

Last comment (hopefully) - Is paypal relying on the community to be honest in the transactions? I can see where paypal would like to collect fees because paypal is a business and PPFF payments are free to both sender and recipient.

[jayshum]

Originally Posted by Fred

USPS Insurance rates:

$50.01 to $100 is $2.05.
$100.01 to $200 is $2.45.
$200.01 to $300 is $4.60.

The price per additional $100 of insurance, valued over $300 up to $5,000, is $4.60 plus $0.90 per each $100 or fraction thereof.

$500 = $6.40
$1K = $10.90
$2K = $19.9

If the insurance rate for USPS is about 1% (there about), then wouldn't it just make sense to pay the 1% USPS insurance cost rather than the PP G/S rate of 3%?

Based on the information provided, PPGS is 3% and is great for the buyer because of the protection offered.

If the buyer paid for PPGS and declined the insurance coverage offered by the seller, then it wouldn't matter if the package didn't show up (for any reason), because the buyer is protected whether or not they opted to pay for insurance. Is that abut the gist of it?

I'm still lost on how paypal could force PPGS on sales rather then PPFF. I suppose if paypal saw MANY transactions, then they could assume the payment transfers are for G/S rather than a friendly payment.

Last comment (hopefully) - Is paypal relying on the community to be honest in the transactions? I can see where paypal would like to collect fees because paypal is a business and PPFF payments are free to both sender and recipient.

I have seen several posts that have indicated the difficulty in collecting on USPS insurance claims so that could be one reason to use G/S even if it costs more.

[Seven]

Originally Posted by jchcollins

And indeed they are. The vintage card forums on FB lately have more than a few tales of people's PayPal accounts that have been mysteriously suspended without warning. In many cases these folks have admitted to taking a lot of FF payments for cards.

+1 to this. I noticed this in the couple of card groups that I belong to on FB. I'd imagine Venmo might be a better alternative for those who are trying to skirt the 3% fee but still want to use an app/service.

Ultimately at the end of the day, Cash is king. I've put a hold on purchasing cards at the moment, just with all of the money being dedicated towards holiday purchases, however, I'd much rather make deals with people in person than through a service such as paypal. Not often the most convenient, and not always possible, but something that definitely ensures the card gets to the buyer and the money to the seller.

[Jim65]

Originally Posted by Seven

+1 to this. I noticed this in the couple of card groups that I belong to on FB. I'd imagine Venmo might be a better alternative for those who are trying to skirt the 3% fee but still want to use an app/service.

Ultimately at the end of the day, Cash is king. I've put a hold on purchasing cards at the moment, just with all of the money being dedicated towards holiday purchases, however, I'd much rather make deals with people in person than through a service such as paypal. Not often the most convenient, and not always possible, but something that definitely ensures the card gets to the buyer and the money to the seller.

For those who use Venmo, they offer zero buyer protection.

[notfast]

I’m surprised so many people are talking about USPS insurance. I thought it was common knowledge they don’t pay out on sports cards and in the limited cases they do, it’s a huge ordeal.

Third party or “self insure” — save yourself money over the long run.

[Directly]

Originally Posted by notfast

I’m surprised so many people are talking about USPS insurance. I thought it was common knowledge they don’t pay out on sports cards and in the limited cases they do, it’s a huge ordeal.

Third party or “self insure” — save yourself money over the long run.

So if that's the case why do they sell insurance at all?

[Fred]

Originally Posted by notfast

I’m surprised so many people are talking about USPS insurance. I thought it was common knowledge they don’t pay out on sports cards and in the limited cases they do, it’s a huge ordeal.

Third party or “self insure” — save yourself money over the long run.

I'm confused - why would USPS offer insurance if they're not going to cover the losses if they lose the package?

[bnorth]

Originally Posted by Fred

I'm confused - why would USPS offer insurance if they're not going to cover the losses if they lose the package?

Insurance is a HUGE money maker, it wouldn't be a product if they lost money by paying out claims.

[notfast]

Originally Posted by Directly

So if that's the case why do they sell insurance at all?

Originally Posted by Fred

I'm confused - why would USPS offer insurance if they're not going to cover the losses if they lose the package?

It’s just not as cut and dry as you’d want or expect especially when dealing with something extremely valuable.

Fed Ex will let you insure a package for basically whatever amount you want but they only cover $1k in collectibles.

Buying third party insurance and following their requirements for shipping will save you significant amounts of money as well as give you a better piece of mind than trying to get a claim through USPS

[icurnmedic]

Originally Posted by Fred

I'm confused - why would USPS offer insurance if they're not going to cover the losses if they lose the package?

They will offer you insurance, but in a claim you MUST prove the value of the items. That is objective value , not a , " This is a 1/1 and the last like one that sold was a 1/100 and sold for $1 so this one must be worth $15" sort of thing. And just because you value a $7k package and they only allowed you $5k in insurance(online max) they only reimbursed you $4600 because that's all you could prove was in the package. Ask me how I know, SMH.

To the original thread, Im in the sellers camp, I think. To me being on both ends at one point or another makes this very difficult. In the end a buyer should always pay the measly 3% . I mean $7.50 would have solved this whole situation.

[Seven]

Originally Posted by Jim65

For those who use Venmo, they offer zero buyer protection.

Very true, I wouldn't have an issue using it with some of the long withstanding members on here though.