Selling $10,000 + sale on ebay

[jcmtiger]

How to handle $10,000 + sales on eBay. Anyone sold items for this amount on eBay & how to handle payments.? Any Suggestions appreciated. Thanks Joe

[Snowman]

I've always just accepted whatever payment method eBay offers the buyer. I think I've only ever sold items over $10k via 'Buy-it-now' which requires immediate payment. However, if it were an auction listing and the buyer wanted to send a check or bitcoin or whatever, I would accept that too. Just ensure the funds have been cleared first before shipping. And before shipping, I recommend you have some sort of private insurance policy (like CIS) to cover you in case there are any issues during shipping, because despite them offering you "shipping insurance", USPS, FedEx, and UPS will all screw you over if the package gets lost (the fine print in your insurance agreement with them limits you to $1,000 worth of coverage despite the fact that you paid for much more than that). Also, some people try to avoid accepting wire transfers for large payments because they don't like giving out their account numbers. Just be sure that you're comfortable with whatever risks you take on when receiving payment, and ask your bank if you have any questions. But all-in-all, it's usually pretty easy. Most buyers pay with a credit card or PayPal. As far as shipping goes, be sure to require a signature for delivery, and I recommend sending the package via Express mail, whether that's through FedEx or USPS. It's worth paying the premium for IMO. Those packages receive better care and attention in my experience.

[hockeyhockey]

that level of sale, i'd probably use a 3rd party to sell it. takes all the risk out of your hands and assume the fees aren't much different than you're giving ebay.

[Snapolit1]

My fear has always been that someone will pay pal me the funds, I will go mail it, and then 30 minutes later I will get a message that they canceled the transaction. Has never happened but those sorts of shenanigans do worry me. As soon as the money hits my paypal it's transferred to the bank.

Frankly I think a lot of folks don't feel comfortable doing that level of transaction over eBay. I'd give it to one of the AHs that advertise here. A nice presentation by an AH can go a long way.

[todeen]

Originally Posted by Snapolit1

My fear has always been that someone will pay pal me the funds, I will go mail it, and then 30 minutes later I will get a message that they canceled the transaction. Has never happened but those sorts of shenanigans do worry me. As soon as the money hits my paypal it's transferred to the bank.



Frankly I think a lot of folks don't feel comfortable doing that level of transaction over eBay. I'd give it to one of the AHs that advertise here. A nice presentation by an AH can go a long way.

From stories told here on Net54, I agree wouldn't sell a $10k item on ebay. Especially if you are doing it in immediate future. It's getting close to holiday shipping season, and last year hundreds of Net54 members were sharing stories of lost packages, or packages sitting not being unloaded. Every major news service is already running stories that consumers should expect the same problems this year.

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[mrreality68]

I have never had an issue at that level buying or selling cards on ebay.

However, at that level I would rather sell at an auction house mainly because of the potential for more people with those funds looking and potentially bidding on it and potentially getting in a bidding war(or caught up in it) and you getting a higher prices then you would have.

The fee is higher at the Auction House but IMO it is worth it for the reasons I mentioned and the cleaner financial and shipping transactions that that Auction House handles for you

[jcmtiger]

Thanks for all the input, I will probably go with AH. I have sold high price items via AH before. I was curious because I saw an item that sold for $12,000.00. I have a similar item I am thinking of selling. I messaged the seller about the sale price, but no answer yet. Joe

[Fred]

How much are the ebay fees or a $10K transaction? If it were sold via an auction house then it could be a 15% fee ($1,500).

I used to sell things on ebay and never got burned as a seller but that was a long time ago.